Here is a list of very useful financial resolutions to make:

1. I will write down my financial goals

2. I will convert a big portion of my savings into investments

3. I will live a simple, frugal life by choice – but choose my dream career.

4. I will start saving/investing for my retirement

5. I will have regular conversations about money, saving and investing with my spouse, kids and parents – all people for whom I feel financially responsible.

6. I will not deal in direct equity with my current level of knowledge of equities

7. I will increase my financial knowledge – inter-alia by visiting www.subramoney.com, www.myiris.com, www.moneycontrol.com, and such other sites.

8. I will maintain my income and expenditure details diligently and keep reviewing them.

9. I will maintain proper records of my assets and liabilities, understand the risk of each asset class, and do proper asset allocation.

10. I will protect all those people dependent on me. Will review my term insurance, medical insurance and retirement and make sure it is up to date and adequate, and the nominees are current.

Most important:  Properly stick to all the resolutions!

Over the next few days I hope to elaborate on all the above resolutions.