Have you made any New Year Resolution in respect of your finances? In these tight times, such a resolution is certain to stand you in good stead.

Here are some suggested New Year Financial Resolutions -

• Make savings a habit
• Improve your credit rating by following some excellent tips
• End your mortgages as soon as you can

Here is some great food for financial thought -

• “Own not the most, but the best.
• Investing without research is like playing poker without looking at the cards.
• When a company president is ready to buy you lunch it is time to sell the stock.
• Stock maniacs do not create wealth, they transfer and destroy it.
• Though difficult to practice think ahead of the crowd.
• If you cannot find an attractive idea, put your money in the bank account till you get one.
• What the wise men do in the beginning, fools do in the end.
• Concentrate investments in a few great stocks and have fortitude to hold through price fluctuations.
• When you combine ignorance and borrowed money, the consequences can be disastrous.
• Risk comes from not knowing what you are doing.
• In reality, Patience is Crucial, but is a very Rare Investment Commodity.
• When the gap between perception and reality is the maximum price is the best.
• One of the hardest things to imagine is that you are not smarter than average.
• Successful investment is intrinsically independent in nature.”

Here is another set of basic ideas on money. This set relates to intelligent financial investments. All of them arise out of simple common sense.

• Make an investment plan
• Invest with a long-term perspective
• Save for the rainy day
• Buy value with enough margins of safety
• Assess your risk appetite
• Remember that there is no free lunch
• In investing, it pays to start early
• Choose your portfolio manager with care
• Diversify across asset classes
• Watch your investment portfolio by tracking company performance

Here are a set of some of the simplest matters in personal financial management. They may seem obvious, but you will be surprised at the kind of mistakes, or rather financial blunders that lots of people are capable of committing.

• Read the fine print before you sign
• Evaluate your advisor / relationship manager
• Power of Attorney – give it responsibly
• Give clear instructions to your stock broker
• Never pay cash to your advisor / agent
• Avoid dealing with multiple banks and brokers
• Delivery instructions – don’t let it slip
• Be on time – even for payments
• Statements and contracts – trust but verify
• Safeguard your documents

At many stages in your life, you will find yourself in situations where you are about to take an important financial decision. Due to the novelty of the situation, or your inexperience, or some other factor, it is possible that you are a little under confident, hesitant or apprehensive as to the outcome of the impending decision / action. The situation is right for you to slow down and consider all related issues, pros & cons and alternative solutions that will reinforce your confidence and point you in the right direction if needed. Here is a carefully compiled list of resources where you can find advice, information and plenty of other material on all matters related to debt, money, and other financial matters.

General money and debt advice from EDF Energy Trust

Personal Finance – Financial Directory

UK money matters – Financial Advice Websites

Directory of Money & Finance advice