Do you have any financial resolutions for New Year’s this year? Despite evidence of declining financial wellness, a recent survey showed that only 16% of Americans intend to include financial planning in their New Year’s resolutions, down by more than half from the 33% in 2009 who said they would make it a high priority in New Year’s resolutions. So if you’re a bit heavy (pun intended) on resolutions related to the size of your waistline and light on ones relating to the size of your bank account, here are 14 possible financial planning actions you can resolve to take in 2014:
1) Make a budget.
Yes, the “b” word. It’s the financial version of a diet and just as important to your financial health as eating right is to your physical health. Start by looking at your bank and credit card statements for at least 3 months and record your expenses on a worksheet like this. If you’re spending more than you have coming in or aren’t saving enough to reach your goals, see if you can use any of these money-saving tips to reduce some of your expenses.
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