The beginning of a year has a monumental significance in your life. It is a time to reflect on the events of the past year, shedding a tear or two for the people and things we lost yet managing to smile for the good memories you hold dear. More importantly, the start of a new year is a time to set new goals, conjure up new aspirations and expect the best of luck in the coming months.

What we often forget is that we bring into 2009 the same habits and attitudes of 2008. We must therefore start by examining our habittudes (habits and attitudes in short) towards money. Then accept to take corrective action where necessary.

By looking at how you earned money in 2008 and how you spent, saved and invested it, you will get a simple and quick insight into your habittudes towards money. Please go ahead and answer the following 7 questions.

Q1. How did you earn money in 2008? 1a) Employment 1b) Business/self-employment 1c) Investments

Q2. How did you spend money in 2008 on Priority One items 2a) Savings 2b) Investments 2c) Insurance 2d) Personal Development 2e) Taxation

Q3. How did you spend money in 2008 on Priority Two items 3a) Fixed expenses e.g. Rent, Minimum debt payments, Utilities

Q4. How did you spend money in 2008 on Priority Three items 4a) Entertainment, Donations, Travel, Vacation, Parties

Q5. How much new debt did you acquire? How much new debt was for assets, investment, business or personal development?

Q6. How much in assets do you own? 6a) House, investments, land etc

Q7. How much in liabilities do you owe? 7a) Mortgage, Consumer debt, Other debt etc

It is easy to answer the question, "Where do you want to be in 2009", financially speaking. All you need to do is answer the previous questions with what you would want for 2009. Make sure the total earnings and total expense items are equal. You can adjust the amount of savings to make sure total earnings equal total expenses.

Q1. How do you plan to earn money in 2009? 1a) Employment 1b) Business/self-employment 1c) Investments

Q2. How do you plan to spend money in 2009 on Priority One items 2a) Savings 2b) Investments 2c) Insurance 2d) Personal Development 2e) Taxation

Q3. How do you plan to spend money in 2009 on Priority Two items 3a) Fixed expenses e.g. Rent, Minimum debt payments, Utilities

Q4. How do you plan to spend money in 2009 on Priority Three items 4a) Flexible expenses e.g. Entertainment, Donations, Travel, Vacation, Parties

Q5. How much new debt do you plan to acquire in 2009? How much new debt will be for investment, business or personal development?

Q6. How much in assets do you plan to own? 6a) House, investments, land etc

Q7. How much in liabilities do you plan to owe? 7a) Mortgage, Consumer debt, Other debt etc

It is obvious to understand that if we continue thinking the same way and doing the same things that we did last year, then 2009 will hardly be better than 2008. That is why you need to consider learning new ways of earning money. You may also need to drop bad money habittudes that waste your hard earned money and lead you deeper into bad consumer debt. Also, you may need to acquire new habittudes that will enable you to save, invest and develop yourself.

Some people are able to make an about turn on their own at the stroke of mid-night on December 31st, but most people need professional help. You may therefore need to seek financial counselling or life coaching or additional trips to the library and book store.

Most people include Debt Counseling and Taxation Consultancy in their game plan but they neglect to seek help on creating new sources of income. It is important to consider all critical areas that you have a significant knowledge deficiency.

Whatever your case may be, it is your thinking and your actions throughout 2009 that will determine the results of your game plan and the status of your financial balance sheet on January 1st 2010.Let us summarize te lessons.

Strategy 1 - Knowing your current financial strategy and the habits and attitudes that have led to your current financial situation.

Strategy 2 - Making a SMART plan that will motivate you to act. Make the plan Simple, Measurable, Achievable, Relevant and with Time deadlines.

Strategy 3 - Have a game plan that will propel you to new heights even if it means spending money to seek professional help.

My best wishes.

You may click here to read an article about a simple 5-minute personal budget plan http://hubpages.com/hub/Budgets-Are-Boring--Spending-Is-Sweet