Six Financial New Year’s Resolutions You’ll Actually Keep

By Chad Fisher
GOBankingRates.com.

A new year represents the opportunity to set goals that can enhance future health and happiness. While losing weight, finding a romantic partner and getting organized are all respectable goals, it’s also essential for a person to create realistic resolutions that can set them on the right track for a better financial future.

According to a Google Consumer survey commissioned by TransUnion, almost a quarter of Americans polled in August claimed that they had given up on their 2013 financial resolutions. For this reason, it’s important to create simple and measurable resolutions that are capable of being kept.

With the new year just around the corner, now is the right time to get back on track by considering a few finance resolutions that are easy to implement. By setting the following six goals, you can successfully save money and improve your finances for the upcoming year.

REDUCE SPENDING
Curtailing expenses is an ongoing battle for many American consumers who know that any money they save can be redirected toward planning for their future. However, it’s impossible to spend less money without understanding exactly where your money is going throughout the year.

According to Forbes, the first step to take when planning your resolutions is to evaluate your expenditures. When doing so, be sure to include even minor purchases, such as beauty treatments or your morning coffee. Often, it is the minor purchases that add up over time, and many of these can be eliminated by performing the services yourself.

SAVE FOR RETIREMENT
With so much focus placed on saving on everyday expenses, it can be easy to forget about planning for your retirement.
If you’ve grown delinquent on your retirement savings, you’re not alone. Almost two-thirds of Americans have not been contributing correctly to retirement funds. If the company you work for offers a 401(k) plan, then Time magazine recommends raising your contributions. This is especially important if the company matches the amount you contribute.
Working with a financial planner is another effective way to save for your retirement, so that you can maximize your portfolio’s growth.

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