New (Financial) Year’s Resolutions.

In the UK, the new financial year has started. And I’m making some New Year’s Resolutions.

Over the the last few years I’ve been working off my (rather significant) debt. I made the promise at the beginning of 2017 that this would be the year I finally nailed it, and at the he end of February I finally got out of my overdraft (yey – that was a very long time coming!).

I grew up poor, and in never really got a handle on finances when I was in my twenties, and upon hitting my early 30s realised I really ought to finally sort it all out. Up until that point, I often ignored money because it scared me, and didn’t do anything much, because genuinely didn’t understand that I really had the option to be doing something sensible, with the money I had. It was all alien.

But sitting with a bank account of just over £0 is really not where I want to be. I want to start actually putting some money away, I want to somehow finding a way to the point where I no longer have to work to live, and I want to be able to travel. Put simply – I want to gain my financial freedom. I adore travel and exploring the world, but am not able to do this with my work commitments.

The process of getting from here to, well anywhere financially, will be hard. My financial habits are terrible – I’ve spent most of the last two decades terrified of looking in my bank account and only knowing how much I had in it when I hit my over-draft and couldn’t withdraw any more. I am only very slightly better now after the last few years of trying to pay off my debt.

I have various pension pots none of which have much money in. I have no idea what the interest rate is, how one goes about investing, what an ISA is… and there is going to be way more that I don’t know I don’t know.

My New Year’s resolutions? They are nothing big and flash – just enough to get me started, I hope. The aim is to start moving in the right direction, and hope I can pick up some good habits, and get them to stick.

  1. Get a savings account that I put money into monthly
  2. (A) Investigate different investment options
  3. (B) Make an investment (however small…)

  4. Save £3,000 by the end of the year.
  5. Earn £500 in money outside my day-to-day job.

 Are these the right ones? They seem a good step to me, but as a complete novice in this space, I’d love to hear what others think about my suggestions. Please leave a comment below, send a tweet, or drop me an email!


5 thoughts on “New (Financial) Year’s Resolutions.

    • Thanks for the comment! I’ve a long way to go, and a lot to learn, but I’m looking forward to it (despite always having been afraid of money before). I love the fact there seems to be this active community out there around saving, investing, and financial awareness!


  1. Hello and congratulations on clearing your debt! Zero in your bank is a lot, compared to a negative amount!

    I recall when I was paying my debts off, how less than a week after my wages had gone into my bank account, I’d be overdrawn again – it boggles my mind how I thought that was ‘normal’!

    Good luck with your NY resolutions. You don’t mention if you have an emergency fund? It may be an idea to have this in place so your investment/savings plans don’t get wrecked when you have an unexpected expense to pay for.

    All the best with your journey to Financial Freedom!


    • Thanks a lot Weenie, I really appreciate the moral support and it’s inspiring to know others have dug themselves out of debt and are doing similar!

      I don’t, at this point in time, have an emergency fund. I was thinking about setting up a fund that basically kept somewhere between 3 and 6 months money in it, to act as an emergency fund (be that losing job, car breaking down etc). Part of the time I’m spending this Easter is thinking about what I want my financial situation to look like in that way. If you know of any place I should look to help inspire my thinking, please do let me know!

      Liked by 1 person

      • I have to say that I have only recently started to build up an emergency fund, but that was because I knew that if I was to be made redundant (and I was), I would have a decent severance package. I will now need to build up my fund to cover for future emergencies, but at the moment, I’m just adding to it bit by bit. In the past, instead of an emergency fund, I used 0% credit cards, but these are no longer my plan B, more like a last resort.

        Most blogs will say to set up emergency funds first before investing, but everyone’s situation is different. Perhaps you could do a bit of both if you had enough spare funds but the key is that you need to ensure that you don’t need the money that you’ve invested at short notice as this should ideally be part of your long term plans.

        Perhaps this link will provide some more info for you:


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