Study: Top financial resolutions for the New Year


SAN FRANCISCO (KRON) — About 45 percent of Americans make New Year’s resolutions each year, and many involve finances.

The list, compiled by WalletHub, is based on conversations with a panel of consumer and psychology experts.

Here is the top 5 on WalletHub’s list:

  1. Review & Reassess – This includes reviewing at least one of your major credit reports.
  2. Monitor Your Credit – Credit monitoring is like a surveillance system for your credit report.
  3. Make a Budget – Only about 40 percent of adults have a budget, survey data from the National Foundation for Credit Counseling said. The best way to budget is to gather all your bills from the past few months and then make a list of you recurring expenses in order of importance.
  4. Try the Island Approach – This is “a personal finance technique based on the theory of compartmentalization that encourages consumers to isolate different financial needs on different financial products – as if they are a chain of related islands.”
  5. Delegate to Automation – Don’t miss your due dates! Set up automatic payments from a checking account to avoid this.

For the full list, click here. provides commenting to allow for constructive discussion on the stories we cover. In order to comment here, you acknowledge you have read and agreed to our Terms of Service. Users who violate these terms, including use of vulgar language or racial slurs, will be banned. Please be respectful of the opinions of others. If you see an inappropriate comment, please flag it for our moderators to review.

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