10 Financial Resolutions for the New Year

By Paul Ausick Updated Jan 12, 4:34PM EST · Published Dec 20, 12:40PM EST

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10 Financial Resolutions for the New Year — © Thinkstock

Most of us have heard by now that there are several relatively painless steps we can take to improve our financial health. All it takes is a little shove.

Turning the page on a new year typically results in a spate of new resolutions to go along with the new calendar. A lot of us want to lose weight and some of us want to feel as if we were 20 years younger, so gym memberships soar at this time of year. All we can say is, been there, done that, and got several T-shirts to prove it.

Financial resolutions are also popular, and while they can be just as difficult to stick with as exercise and diet, it never hurts to review financial resolutions in order to check on our money behavior. Most of us have little bad habits that eventually add up to a real cost.

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Researchers at WalletHub have put together a good list of 10 financial resolutions to consider as 2016 gives way to 2017. Who knows, if we accept the challenge, we may develop some new, good habits. Here’s WalletHub’s list:

Thoroughly review your credit report & sign up for credit monitoring

Pay bills right after receiving you paycheck

Repay 20% of your credit card debt

Use different credit cards for everyday purchases & another for debt

Add one month’s pay to your emergency fund

Improve your credit score by 20 points

Get an A in WalletLiteracy

Focus on your physical health

Make a realistic budget & stick to it

Look for a better job

Visit the WalletHub website for additional details and expert advice.

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About the Author Paul Ausick →

Paul Ausick has been writing for 247Wallst.com for more than a decade. He has written extensively on investing in the energy, defense, and technology sectors. In a previous life, he wrote technical documentation and managed a marketing communications group in Silicon Valley.

He has a bachelor's degree in English from the University of Chicago and now lives in Montana, where he fishes for trout in the summer and stays inside during the winter.