Following are a few important questions that should be asked before outlining a plan for next year, in this case 2012.

1.       Am I planning for my retirement?

Although the question is one of the most overused in planning for the future, yet there has been done no or little work at it, at best. Planning for old age is obviously a very long-term strategy and vague in nature but still its importance cannot be overlooked.

One of the best ways to save money for retirement is insurance. Seek good plans available in the market and opt for the best. Plan saving money for the premium on monthly basis. This could be helpful in making the future bright.

2.       How to spend money next year (2012)?

This is the major concern of people. However, what they lack is a proper planning and what it needs is recalling the spending patterns of the last 12 months. Rethink what cost the most in 2011 and what luxury was purchased extra during that time that was
expensive and very less used.

Try to not to repeat the same again. Think of spending on something that is practical and has more usage.

Furthermore, recall the expenditures on your automobile. Seek out the potential problems that might occur in 2012. Try to save for the surprise expenses during the year, which obviously you didn’t during 2011.

3.       How to pay off the debt?

This is another common problem among the general public. Many of them are besmeared in bank loans or credit card debts. Many have borrowed money from their friends or relatives, although the latter one usually does not have interest imposed but they are
loans nonetheless.

Try to outline a sketch that would help you save money periodically. It is fathomable that loans cannot be paid off all at once. Savings have to be included into the equation. Plan for the worst case scenarios and seek cheap alternatives to some of the luxuries
you are used to.

Moreover, get hold of the shopaholic nature if there exists any. Move to a cheaper place to save money or sell the car and buy a cheaper one that costs less in repair charges.

4.       Is there any promotion in the cards?

Some people just become laggard in their current positions and do not thrive for promotions. Some of them even get stuck in one position for decades.

The end of year presents a better opportunity to lay out a strategy for your work place. The job environment always presents opportunities to progress.

Do extra to become distinctive in your boss’ eye. Work more thoughtfully and present the management with new strategies and solutions to problems.

Moreover, try to eradicate any flaws in your work routine that you have been ignoring in the past.