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What are your Financial New Year's Resolutions?

New year, new me.

It’s almost time to push the reset button.

Eating better, getting more exercise and other self-care resolutions top the list, but not far behind is financial wellness. Saving money has made the top 5 in almost all polls. Financial-focused resolutions live among the most popular people set for themselves before the new year rolls around.

Changing our behavior and the way we operate can be tough, but it doesn't have to be. We have some ideas to help jumpstart your thought process on the financial goals you’d like to crush this year and tips on how to keep them going strong.

What are some good financial resolutions?

The resolutions you set will depend on what you are looking to accomplish. The goals you set for your resolutions should be realistic and achievable. Here’s a list of ideas to get you started:

1.       Develop a budget.

Budgeting helps you map out a plan when it comes to spending your money.

Following a budget plan will keep you out of debt or help work your way out of

debt and allow you to save. Tip: Be realistic, small steps work, big steps result

in failure. 

2.       Build an emergency fund.

Life happens. Reduce the stress of an unexpected costly repair on your home

or car by having an emergency fund. Tip: Build up three to six months’ worth

of living expenses for this resolution.


Utilize our Monthly Savings Calculator to see how much you need to save each

month to reach your goal.

3.       Work on forming a habit of saving money.

Forming habits can be challenging, but once that habit is formed, everything

happens naturally. Tip: Try setting up a monthly automatic transfer from your

checking to your savings account and let the bank do the work for you. 

4.       Save for a family vacation.

Your budget and habit of saving money can help when saving for your next

family vacation. Tip: Create a repository of deals and special offers from hotels

and airlines that you can turn to when you plan your vacation. Good deals =

money saved.

5.       Boost contributions to your employer-sponsored retirement plan.

It’s never too early to start saving for retirement. The more you can invest

when you’re young, the better off you’ll be. Tip:  If your employer offers to

match your plan, make sure you contribute at least enough to take full

advantage of that match. If you’re able, increase your contribution for the

year. Every little bit helps.


Use our Retirement Calculator to help create your retirement plan.


What is the best way to keep a resolution?

Keep in mind that you have the ENTIRE YEAR to accomplish your goals, not just the month of January.

1.     You can think BIG, but it’s important to break your idea into smaller, more attainable goals.

2.     Write your goals down and keep them in a spot where you can see them daily.

3.     Don’t be afraid to share your goals with a close friend or family member to help you stay accountable.

4.     Attitude is everything. Staying positive and motivated will push you to stay on track with your resolutions.

We encourage you to grab a pen and paper to start writing down your financial resolutions and goals for 2019. Remember, we are always here to help support your financial goals, with these resources you will be well on your way. If you have any great resolution ideas or tips, share them in the comments!