About half of Americans make New Year’s resolutions each January, but only about 20% of people keep them.

Getting into shape and achieving financial goals are among the most popular resolutions. (Statista.com) While we can’t help you reach your ideal weight, we can share 6 ways to help you become financially fit in 2020:

  1. Put your money on autopilot Set up direct deposit, authorize electronic payments, and automate routine
    savings. Streamlining your finances with online tools not only saves time, it helps you avoid late fees and
    overdraft fees and makes saving easier.
  2. Create a spending plan Only about 40% of adults have a budget, according to the National Foundation for
    Credit Counseling. Use a free online budgeting tool, like Mint or PocketGuard, to keep track of expenses and
    compare it to your monthly take-home pay. See where you’re spending too much and make any necessary
  3. Build an emergency fund Not having an emergency fund is like driving without wearing a seatbelt; it’s a risk
    that could ruin the rest of your life. More than half of Americans don’t have a rainy-day fund and 40% don’t
    even have $400 in cash saved for emergencies. You can start small, $10 to $20 per paycheck, but work to save
    3 to 8 months of income. To make it easier, set up an automatic transfer from your checking to your savings
  4. Increase your credit score Pay all bills on time, every time; pay more than the minimum; don’t use more
    than 30% of your credit; avoid opening many new accounts in a short time period, and; keep the oldest
    existing credit (the longer a credit history, the better). Also, if you have parking tickets or library fines, pay
    them off. Debts are reported to a credit reporting agency and they can knock down your credit score.
  5. Request your credit report You want to make sure there are no errors and no one is using your credit
    unlawfully. Request one free credit report a year from each of the three major credit reporting bureaus by
    visiting annualcreditreport.com.
  6. Beef up retirement funds Make regular contributions to a retirement savings plan such as a 401(k) or IRA. If
    your company offers a 401(k) plan, contribute at least enough to meet the company match. If you don’t, it’s like
    leaving free money on the table. Also consider opening an IRA at your credit union.

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