[{"@context":"https:\/\/schema.org\/","@type":"BlogPosting","@id":"https:\/\/www.amorusolaw.com\/blog\/keeping-new-years-resolutions-can-be-a-challenge-new-york-ny-greenwich-ct\/#BlogPosting","mainEntityOfPage":"https:\/\/www.amorusolaw.com\/blog\/keeping-new-years-resolutions-can-be-a-challenge-new-york-ny-greenwich-ct\/","headline":"Keeping New Year\u2019s Resolutions Can Be a Challenge","name":"Keeping New Year\u2019s Resolutions Can Be a Challenge","description":"Life can get in the way of you meeting your goals. However, embracing some tactics can be helpful. Making resolutions to accomplish certain goals is never an easy task and New Year\u2019s resolutions are no different. Financial goals are often on the list of resolutions and there are some secrets to follow that can help […]","datePublished":"2019-01-18","dateModified":"2023-07-30","author":{"@type":"Person","@id":"https:\/\/www.amorusolaw.com\/blog\/author\/amorusolaw\/#Person","name":"Amoruso & Amoruso LLP","url":"https:\/\/www.amorusolaw.com\/blog\/author\/amorusolaw\/","identifier":5,"image":{"@type":"ImageObject","@id":"https:\/\/secure.gravatar.com\/avatar\/12de032c04195e9c39a06a6d6eea182f7b4fa655c20e245f8094a244b5cdd0cb?s=96&d=mm&r=g","url":"https:\/\/secure.gravatar.com\/avatar\/12de032c04195e9c39a06a6d6eea182f7b4fa655c20e245f8094a244b5cdd0cb?s=96&d=mm&r=g","height":96,"width":96}},"publisher":{"@type":"Organization","name":"Amoruso & Amoruso LLP","logo":{"@type":"ImageObject","@id":"https:\/\/www.amorusolaw.com\/wp-content\/uploads\/2023\/07\/amoruso-logo.svg","url":"https:\/\/www.amorusolaw.com\/wp-content\/uploads\/2023\/07\/amoruso-logo.svg","width":0,"height":0}},"image":{"@type":"ImageObject","@id":"https:\/\/www.amorusolaw.com\/wp-content\/uploads\/2023\/04\/6a01901dd0a082970b022ad3cf727c.jpg","url":"https:\/\/www.amorusolaw.com\/wp-content\/uploads\/2023\/04\/6a01901dd0a082970b022ad3cf727c.jpg","height":566,"width":849},"url":"https:\/\/www.amorusolaw.com\/blog\/keeping-new-years-resolutions-can-be-a-challenge-new-york-ny-greenwich-ct\/","about":["401(k)","Estate Planning","IRA","Retirement Planning","Savings"],"wordCount":501,"keywords":["401(k)","Estate Planning","IRA","Retirement Planning","Savings"],"articleBody":"Life can get in the way of you meeting your goals. However, embracing some tactics can be helpful.Making resolutions to accomplish certain goals is never an easy task and New Year\u2019s resolutions are no different. Financial goals are often on the list of resolutions and there are some secrets to follow that can help you stay on target, according to CNBC in “The secret to keeping next year\u2019s financial resolutions“.Getting more specific, most of the 2,000 people surveyed by Fidelity said they were going to save an extra $200 a month for their long-term 2019 goals, like retirement, college costs and health care. Half said they were going to boost contributions to their retirement savings plans, usually a 401(k) or their IRA. Higher limits for contributions to both are expected to increase the savings rate.The unexpected ups and downs of life could stand in the way of your resolutions. Rising costs of health care, the volatile stock market and concerns about the trade wars are on most people\u2019s minds. Try to focus on what you can do, rather than what you cannot control.Like most of us, the people surveyed also admitted to making some spending mistakes they know made their savings lower than they wanted. Chief among them: eating out too often and splurging on things that are way out of their budget.How can you be sure to make and keep your financial New Year\u2019s resolutions in 2019?Try a budgeting app. There are several well-known, tried and tested budgeting apps that make keeping an eye on your spending and finding costs to cut easier. Once you\u2019ve identified places you can cut spending and created a surplus, put that money into your savings account. Or, increase your retirement plan contribution. Even a little bit can make a big difference over time.Can you do better with your savings interest rate? Rising interest rates may make it possible to get a better return in 2019. As the Fed has raised its benchmark rate, yields on savings accounts are on the rise. While many savings accounts are only averaging 0.2%, some high-yield accounts are at 2.25%. Consider switching to a bank that offers at least a 2% return.Note that the opposite goes for your credit cards: rising interest rates mean you\u2019ll want to pay those off as soon as you can. Today\u2019s average credit card interest rate is more than 17%. Try to pay the balance in full every month to avoid paying any more in fees than necessary.Take control of your health care costs. If your Health Savings Account permits, increase the amount of money you contribute to your plan. If you didn\u2019t use up all your funds in 2018, make an appointment for mid-year 2019 to schedule appointments or procedures you know you\u2019ll need before the year is out.Reference: CNBC (Dec. 15, 2018) “The secret to keeping next year\u2019s financial resolutions”For more information on asset preservation and estate planning, please visit my estate planning website."},{"@context":"https:\/\/schema.org\/","@type":"BreadcrumbList","itemListElement":[{"@type":"ListItem","position":1,"name":"Blog","item":"https:\/\/www.amorusolaw.com\/blog\/#breadcrumbitem"},{"@type":"ListItem","position":2,"name":"Keeping New Year\u2019s Resolutions Can Be a Challenge","item":"https:\/\/www.amorusolaw.com\/blog\/keeping-new-years-resolutions-can-be-a-challenge-new-york-ny-greenwich-ct\/#breadcrumbitem"}]}]