As we get ready to start a New Year, let this be the time for a new financial YOU!  Here are 13 financial New Year’s resolutions that you should make now to start 2017 off right.

1. Follow a Budget (visit our “Resources” page to download our RISC worksheet that can help you identify fixed income and expenses and variable income and expenses.)
2. Have a financial plan created for you.
3. Direct deposit some savings.
4. Get serious about an emergency savings plan.
5. Pay your credit cards automatically through an electronic funds transfer.
6. Swear off interest by getting your credit cards down to zero.
7. Verify you are not over paying checking account fees.
8. Raise your credit card limit as this will enhance your credit card utilization percentage.
9. Optimize your credit cards to ensure you are earning at least 1.5% cash back on purchases.
10. Fund your traditional or Roth IRA
11. Increase your 401k contributions
    • The contribution limit for employees who participate in 401(k), 403(b), most 457 plans, and the federal government’s Thrift Savings Plan remains unchanged at $18,000.
    • The catch-up contribution limit for employees aged 50 and over who participate in 401(k), 403(b), most 457 plans, and the federal government’s Thrift Savings Plan remains unchanged at $6,000.
    • The limit on annual contributions to an IRA remains unchanged at $5,500.  The additional catch-up contribution limit for individuals aged 50 and over is not subject to an annual cost-of-living adjustment and remains $1,000.
12. Refinance your mortgage if you can.
13. Make a list of the things you did right and the things you did wrong with your money in 2016.
14. BONUS GOAL: Set new financial goals for 2017, i.e. pay down on specific debt, start a college savings account, improve your financial literacy, etc.