10 New Years Resolutions to Spend Less and Save More


Here’s a list of the top financial New Year’s resolutions to make for 2021, according to John S. Kiernan for wallethub.com.

Make a Realistic Budget & Stick to It. Rank true necessities at the top. Cut from the bottom until your take-home exceeds what you plan to spend.

Look for a Better Job. Remote jobs save on commuting costs and let you live somewhere with a lower cost of living.

Focus on Physical Health. Exercise regularly, create a healthy diet and practice meditation to reduce health care costs. Feeling better means better financial decisions and you tend to have better credit scores.


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Use Different Credit Cards for Everyday Purchases & Debt using the Island Approach.

Sign up for free credit monitoring to spot errors or evidence of fraud. Check your free TransUnion credit report on WalletHub.

Repay 20% of Your Credit Card Debt.  Budgeting, automation and the Island Approach will help reduce future debt. A combination of a 0% balance transfer credit card and a credit card calculator can also help you lower debt.

Add One Month’s Pay to Your Emergency Fund which should have 12 to 198 months’ take-home income.

Pay Bills Right After Receiving Your Paycheck with two automatic monthly payments; one for right after payday and another for a couple days before your monthly due date to avoid interest on purchases made between your first payment and the end of your billing period.

Get an A in Wallet Literacy. Take the WalletLiteracy Quiz 

Make Sure You Have Enough Insurance for a Catastrophe.  Purchase life and disability insurance and have enough health insurance.

The top financial resolution for 2021 is to save more. With these 10 tips, that’s one resolution you should be able to keep. 


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