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New Year's Resolutions Focus on Finances

In a recent poll, two thirds of Americans reported their top New Year's Resolution is to achieve financial fitness.

KSMU's Erika Brame reports.

This year Americans are counting pennies instead of calories.

According to a national survey by Countrywide Bank two thirds of Americans are putting financial fitness over physical fitness this year.

Financial Advisor for UMB Bank in Springfield, Matt Connell, has three easy tips on how to get your finances in order for the new year.

"There would be three things in my opinion: number one would be limiting debt, specifically credit card debt, not using that debt or paying that down. Maintaining an emergency fund of unexpected expensive and then saving for the long term or whatever those expenses might be out in the future, for retirement or your kids' education. Then lastly one other thing would be just living within your means."

The best way to stock up on that emergency fund is to limit one extra expense per month.

Connell says eat out one less time per week and put that extra ten dollars into savings.

Connell also encourages Americans to set up an automatic withdraw of funds from each paycheck.

The idea is: if its not there, you can't spend it.

For KSMU News, I'm Erika Brame.