Now that we have gotten settled into 2008, let\'s take a look at some of the New Year\'s resolutions some of us have all made for this year. Getting in shape? Me too. Dedicating yourself to improving your skills at work? Great plan. Working on furthering your education? Excellent! But I suggest taking that goal one step further: make it a life-long goal to increase your financial education. Start here with a financial game plan for 2008.

1. Get real with yourself. Take a good hard look at your finances and choose to manage your debt. As Robert Kiyosaki says, there is good debt and bad debt. Get out of the bad debt, or debt that generated from credit cards, consumer debt (aka, debt that doesn\'t pay itself off). And maximize your good debt or debt that has the potential to put money back into your pocket like Real Estate or building a business. First things first, you need to ask yourself the tough questions like, how much do I owe? What are the interest rates? Am I in debt to the IRS? After all, the only way to get to where you want to be is to know from where you are starting.

2. Start to minimize your taxes to the greatest extent possible. The worst way to do this is by remaining an employee. I say just because there are ways for employees to minimize their taxes and put one foot into the world of the wealthy. This is by starting a home-based business or owning your own business. Other than that, there is little to nothing that a person who earns a living as an Employee can legally do to minimize their taxable income.

3. Create a savings and emergency funds for security when \"life happens\" because it happens to us all, whether we\'re rich or poor. Create a buffer between the things that come up in life and reduce the stress of when they do. Put away at least 10% of what you earn into this account and breathe easier. This account should hold up to 3-6 months of your monthly expenses.

4. Build your financial fortress to withstand any storm. In our litigious society today, no one is immune from those who want to work less and take your wealth from you. Ensure you, your family and your assets are protected with the proper legal entity (i.e. NOT just in a family trust). Seek out legal professionals who will help you set this up for your business. This is NOT a place you want to cut corners just to save a buck... Your family and your dreams will appreciate it in the long run.

5. Build a legacy for yourself and your family. Start investing like the ultra wealthy and well connected. If you don\'t know where to go with your money, don\'t get lulled into the security of a \"financial advisor\", but rather do some due diligence and find a company that will educate you on wealth-building investments.

6. And perhaps most importantly, enjoy the time and money freedom you have earned for yourself and your family. After all the previous steps are complete, you are truly an enlightened wealthy person.

Donate extra time and money along the way and feed your spirit and soul. But most of all find experts and mentors along the way to help the journey be a little less tumultuous. Build a team of professionals who are good at what they do and you will be well on your way to building a long-term legacy for generations to come. Take the steps in 2008 to start your new financial future. It\'s as easy as steps 1-6.

http://www.ShiftOfMomentum.com

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