Seven New Year resolutions for investors

The economic outlook is far gloomier than it was this time last year. So it's more important than ever to avoid squandering cash on unnecessary taxes and fees, and to make sure you're investing as efficiently as possible.

Although no one can predict with any certainty what 2008 will bring, one thing's for sure thanks to the credit crunch, the outlook for the global economy is far gloomier than it was this time last year.

So it's more important than ever to avoid squandering cash on unnecessary taxes and fees, and to make sure you are investing as efficiently as possible. Here are some New Year's resolutions for your portfolio.

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Tim graduated with a history degree from Cambridge University in 1989 and, after a year of travelling, joined the financial services firm Ernst and Young in 1990, qualifying as a chartered accountant in 1994.

He then moved into financial markets training, designing and running a variety of courses at graduate level and beyond for a range of organisations including the Securities and Investment Institute and UBS. He joined MoneyWeek in 2007.