New Year, New Financial Resolutions

Setting Goals for a Successful Year

While getting financials in order at the beginning of every year is a ritual for most, it doesn't hurt to keep things fresh with some out-of-the-box resolutions. According to the New York Post, the average American calls their resolutions quits by the time February rolls around (or never follows through with them in the first place), so a new perspective might just be the ticket to sticking to the financial plans you intend to make.

An article published by Wallet Genius takes a new perspective on classic financial goals with suggestions that include talking to your children and spouse about money, not confusing spending with saving, considering money as a tool instead of a goal, and even volunteering and trying something new every year.

Tips for Sticking to Your New Year's Financial Resolutions

All geared up and ready to make those financial resolutions for the New Year? Use these helpful solutions from CNBC to stick to your financial goals throughout the new year and beyond:

• Set up autopay or use BillPayer for everything — From your utility bills to your rent, automate payments so you never have a late fee. Plus, excellent payment history will be reflected on your credit score. You can also automate money directly from your paycheck to your savings, so you won't even know you're missing it while saving at the same time.
• Give your budget a makeover — If it's been a while since you've tweaked your budget, take the time to restructure it to fit your most current lifestyle. Check out the “Creating a Budget” video from Wescom's Financial Education Center here.
• Match savings to spending — For one month, try this savings technique that allows you to save as much as you spend. Simply add a dollar to savings for every dollar you spend. Or you could put a cap on it, like saving $5 for each purchase made throughout the month.
• Try a “savings spree” — Save the dollar amount of each calendar day for one month. Start by saving $1 on the first of the month, $2 on the second, and so on. You could end up saving around $500 for the month! You can even open a separate share and name it “savings spree” and automatically manage the $1 deposit through our mobile apps or online banking.
• Bump up your retirement contribution by 1% — A little goes a long way. Investing a few extra dollars per month into your retirement account could pay out big in the end.