Canadian Money - New Years Resolutions - 2008

I thought it would be fun to sit and think about some idealistic new years resolutions for Canadians. What would happen if Canadians took a cash only policy and ran with it? Not feeling like we've got to spend every cent that's in our pockets. Actually saving cash reserves, and looking out for the future.

Canadians would feel alot more confident about their finances and would laugh at any type of credit crunch that may be in the near future.

Get in control of Credit & Debt
Stop using credit to make purchases and pay down credit cards by 100%

Start using cash or debit to make every purchase
Spending only money you currently have. Not spending money that costs you triple because of interest and fees.

Lower Interest Rates
Contact each creditor and have their lower our interest rates by at least half.

Credit Score rises to 750
We do such a good job with credit repair and learning about the things that negatively affect our credit score that we each build up our credit scores to 750+!

Collection Agencies fear us
A collection agency fears us when they call us, because we've studied up on the laws and know how to keep then under control..IE "You listen to me, or I could have your job!!"

Short Term Savings in the Bank
Every Canadian has at least 3-6 month cash reserve saved up in their bank account.

Long Term Savings in the Bank
Every Canadian is finished saving up their short term savings and is now working on their long term savings.

Slowing our consumer urges down
We need to resolve to calm our consumeristic nature down to a very quiet level. Buy the things we need and can afford. Not buy things that will put us in debt and harm us financially in the future.

Learning more about personal finance
Taking the time to study up on personal finance so that we get much better control over our expenses and income. We know what we're paying for things instead of guessing. We know about interest rates and credit scores.