Lose weight, quit smoking, find a new job and get out of debt…does this sound familiar? Millions of Americans will resolve to change their lives in the New Year, but few will stick with their goals. 

In fact, a recent survey by the National Endowment for Financial Education (NEFE) finds six in 10 people will strive to improve their financial well-being in 2015. Changing your financial habits is a resolution you cannot afford to overlook. It’s time to flex your financial muscle.

The experts at the nonprofit National Endowment for Financial Education offer these seven tips to help make your financial resolutions stick:

1. Do it now. Many will wait until they feel the time is right to begin new behaviors. If you wait until after the big party to start watching your diet, or until after that big purchase to start saving money, the ideal time will never present itself.


2. Write down your financial resolutions. The NEFE survey finds setting a budget, making a plan to get out of debt, and boosting retirement savings are the top priorities for Americans in the coming year. Clearly articulate why you think your resolution is a good idea, steps you can take to reach your goal, and what you hope to gain. Post your list where you will see it each day.


3. Identify your money morals. Understanding your values and attitudes about money will bring clarity to the decision-making process. NEFE offers various online tools, such as the LifeValues Quiz, which will help you identify your values and make resolutions based on those values. You can find the LifeValues Quiz at www.SmartAboutMoney.org.


4. Recruit a “financial buddy.” Share your resolutions with a trusted family member or friend who can provide support in helping you meet your financial goals. Find someone who will hold you accountable and will set a good example for you to follow.


5. Vary goal intensity. Give yourself a short-term objective such as paying more than the minimum on one credit card this month. A long-term goal could be setting up – and adding to – the emergency savings account you know you should have but didn’t get around to starting last year.


6. Monitor your progress regularly. If you are trying to reduce debt, make sure you check your balances often. Set aside a couple of hours each week to address your finances. Over time this will become second nature and part of your normal routine.


7. Address conflict logically. If you find yourself breaking a financial goal by reverting to old spending habits, identify what value might be causing you to stray and take the time to ask yourself if the decision is appropriate given your current financial situation.

For help with setting goals and getting your finances in order in 2015, visit www.SmartAboutMoney.org.
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Sponsored by National Endowment for Financial Education