Five Financial Resolutions You Can Keep in 2013. It’s Your Money, Hang On To It!

It’s that time of year – to make resolutions and think about how you are going to do things different now that we have a shiny fresh New Year in front of you. We make lots of plans but we rarely keep the promises we make to ourselves.

But 2013 could be different.

Here are the top five things you can do for yourself that can help improve your finances by the end of next year. They are easy and if you do them well, the net result is you can really help yourself reach your goals. Here we go!

1. Set your retirement investment to automatic.

If you are already doing this, go increase the amount by at least 2%. After the first paycheck, you won’t miss it. And you may increase your match with your company. If you aren’t saving for your retirement, set that up now. It’s money in the bank for your future.

2. Review your big financial goals and start saving.

This can be something little, like a vacation, or big like a wedding or college savings for the kids. It could be as practical as a new roof. Decide what you need then set up an automatic payment to your savings to stash the cash for this goal. There are plenty of online calculators that can help you figure out how much you need to save each month based on your target end date. Do the math then put the savings on automatic. You’ll be happy you did!

3. Set online alerts on your bank accounts.

Don’t get caught with excessive bank fees for bounced checks or missed payments. Nearly all banks will let you set online alerts to tell you when your balance is running low or a payment has been made. Go in and turn those on and you’ll receive emails before you get in trouble. You work too hard for your money to spend it on bank fees!

4. Stop using ATMs that don’t belong to your bank.

Those ATMs that sit at bars, restaurants, amusement parks, and more are not doing you any favors. You pay extra fees every time you use one. And those fees are set and not based on how much cash you withdraw so you can pay the same amount for taking out just $20 or $100. Instead, consider using one credit card for regular expenses and they pay it off in full every month. Or, if you need cash, visit a grocery store and make a small purchase. Getting cash back doesn’t incur charges.

5. Visit your Financial Engines online account and make sure you have “green lights”.

If you employer offers Financial Engines as part of your 401(k), you can access the free online advice we offer and see how your investments stack up. By providing a bit of information about your retirement priorities, we can help you decide the best ways to invest to achieve those goals. It’s an easy, intuitive way to make sense of investing for your future.