Financial New Year's resolutions

There has never been a better time to start planning for your future than right now, especially when it comes to your finances.

Start the new year on a positive note by forming some good financial habits to help you stay on top of your finances all year long. Here are some ideas to help you get started.

Review your insurance policies

  • Block out time on the calendar to review your accounts.
  • Review rates, beneficiaries, insured amounts and more.
  • Give a trusted family member important access information.

Put a cap on bad spending habits

  • Target one habit such as online shopping when you're bored or eating out.
  • Set a realistic goal and clear limits.
  • Identify and avoid triggers.

Build up at least three months of emergency savings

Make a plan to pay off unwanted debt

Prioritize that account you've been meaning to open

  • Think: life insurance policy, IRA, kids' college savings, vacation fund.
  • Determine your goal and calculate a savings plan.
  • Set up a modest monthly auto-pay.

Commit to a no-spend day (or weekend) monthly

  • Make a "fun and free" entertainment list.
  • Use up food in your freezer or pantry.
  • Make time for crafts, organization or home projects.
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The information in this article was obtained from various sources not associated with State Farm® (including State Farm Mutual Automobile Insurance Company and its subsidiaries and affiliates). While we believe it to be reliable and accurate, we do not warrant the accuracy or reliability of the information. State Farm is not responsible for, and does not endorse or approve, either implicitly or explicitly, the content of any third party sites that might be hyperlinked from this page. The information is not intended to replace manuals, instructions or information provided by a manufacturer or the advice of a qualified professional, or to affect coverage under any applicable insurance policy. These suggestions are not a complete list of every loss control measure. State Farm makes no guarantees of results from use of this information.

Neither State Farm® nor its agents provide tax or legal advice.

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