READER'S ROCK LIFESTYLE MAGAZINE VOL 2 ISSUE 4 NOVEMBER 2014 Vol. 1 Issue 7 January 2014 | Page 71

2014
RESOLUTIONS
How to stick to your New Year's resolutions all year long

(BPT) - With the holidays
past and a new year upon us,
now is the time for
Americans to focus on their
2014 resolutions. And while
fitness goals often top the
list of New Year's
resolutions, diet and exercise
aren't the only ways to get
back into shape. This year,
do yourself and your loved
ones a favor by getting
financially fit as well.

meet. You'll even get alerts
as you reach milestones
along the way.

Although most Americans
intend to become financially
savvy in the new year, only a
small fraction fully commit
to their financial success.
According to a 2012 study
from University of Scranton,
34 percent of Americans
established financial
resolutions goals, but only 8
percent were successful in
achieving them. Luckily,
2014 is a new year, which
means new opportunity to
focus on and work toward
your financial aspirations.

* Maximize retirement
savings: If you have a
401(k), max out your
contributions (and your
employer match, if you have
one) to gain full benefits for
the tax year. Also, while
you're permitted to make
IRA contributions through
the tax filing deadline,
contributing now may
provide additional taxdeferred growth potential.

To help stay financially fit in
2014 and beyond, here are a
few tips:
* Be specific with your
resolutions: Once you know
exactly what you're saving
for, arm yourself with the
right savings tools to achieve
your goals. Capital One
360's My Savings Goals
enables you to name your
goals and track them
throughout the year, if you
have a specific deadline or
certain budget you want to

* Save regularly by setting
up automatic transfers: Start
the new year off with an aim
to save. One of the easiest
ways to save is to have funds
automatically moved to your
account every month or with
every paycheck. With an
automatic savings plan, you
can set it and forget it.

* Give your portfolio a tuneup: Take a look at the
investments you have and
make sure you're
maintaining a well-balanced,
diversified portfolio that
aligns with your risk
tolerance and goals. If you're
just getting started, an online
investing tool can help you
assess your investing style
and risk profile, and set up a
personalized portfolio and
investing plan that works for
you.
* Create an emergency fund:
To minimize debt and
financial penalties resulting

from having to pay off
unexpected expenses, create
an emergency fund. Allocate
some of this year's holiday
budget, year-end bonus
and/or tax return to an
interest-earning, FDICinsured savings account. You
can also set up automatic
contributions to build your
savings. A good rule of
thumb is to maintain six
months' worth of expenses in
your savings, just in case.
* Look for responsible ways
to establish credit:Remember that a credit card
doesn't equal free money.
Start with a low-limit credit
card that offers points and/or
rewards and pay your
monthly balance in full and
on time. Late fees add up
quickly and hurt your credit
score.- And, set up alerts to
help you track your spending
and to help you pay your bill
on time.
The winter season can be a
stressful time financially, but
if you plan ahead and stick
to your financial goals,
there's no reason you can't
enjoy financial success in the
new year and for years to
come.
To find additional financial
tips as well as information
on Capital One's financial
educational programs, visit
www.capitalone.com/financi
aleducation or
@TeachingMoney on
Twitter.