New Year's resolutions for Personal finance in 2013

       New year's resolution for personal finance is the foundation of financial success.Plan the next year now for reaching financial freedom and living a debt free life. These tips can change your financial habits and outcome in 2013.

1.Analyse your Personal finance matters in the previous year.Check your income and expenditure.

2.Examine all type of loans and debt.Compare interest rates for reducing the exposure in high interest loans.

3.Your loan payment or EMI should be less than 10 % of your monthly net income.

4.Pay the bills on time.Never attract late fee.

5.Pay from your debit card.Minimise the use of credit card and revolving credit .

6.Spend for your priorities.Avoid shopping mania.

7.Create an emergency fund and keep it in savings account .It should be 3 times of your monthly income.This will help to overcome unexpected financial problems.

8.Record your daily expenditure and identify the unncessary things.

9.Make systematic savings every month.

10.Invest in assets, not liabilities.