Financial Resolutions: Why 40% of Americans Have <$1K in Savings

by | Jan 12, 2019

Financial Resolutions: Why 40% of Americans HaveFor most people a new year means a new you, but maybe there’s something else you should resolve to change.

If you’re looking to boost your finances in 2019, Forbes has put together the ten best personal finance resolutions you could make.

For example, save one thousand dollars. Less than forty percent of Americans have one thousand dollars in their savings account; however almost every financial planner will tell you that at least that much is necessary for a rainy day. So if you can find a way to save eighty-three dollars a month you will have kept this resolution by the end of the year.

Another resolution to make… put one extra monthly payment towards your mortgage per year. That shortens the length of your loan by four or five years.

Something else to try, make a budget. Everyone should have one and you should stick to it. If a traditional budget doesn’t work for you, come up with your own spending plan.

For more financial resolutions, check out the full article now. And make sure you keep them.

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Brian Banmiller

About Brian

CBS News Radio national business journalist Brian Banmiller has spent more than 40 years in the news industry, covering business, politics and the economy on television, radio and in print. Currently, his “Banmiller on Business” reports are delivered to an audience of millions nationwide.

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