WS Chronicle

By Donna Jones

Just as your waistline and cluttered closets may benefit from a fresh approach, so can your finances. The following are tips to inspire you to make — and keep — your financial resolutions this year:

Review your insurance policies

*Block out time on the calendar to review your accounts.

*Review rates, beneficiaries, insured amounts and more.

*Give a trusted family member important access info.

Put a cap on bad spending habits

*Target one habit, such as online shopping when you’re bored or eating out.

*Set a realistic goal and clear limits.

*Identify and avoid triggers.

Build up at least three months of emergency savings

*Calculate using essential monthly expenses only.

*Make sure it’s easily accessible for emergencies.

*Save more if your job is unstable or you’re supporting others.

Make a plan to pay off unwanted debt

*Ask for a lower interest rate.

*Focus first on the highest interest rate or lowest balance.

*Make a larger monthly payment by cutting spending elsewhere.

Prioritize that account you’ve been meaning to open

*Think: life insurance policy, IRA, kids’ college savings, vacation fund.

*Determine your goal and calculate a savings plan.

*Set up even a modest monthly auto-pay.

Commit to a no-spend day (or weekend) monthly

*Make a “fun and free” entertainment list.

*Use up food in your freezer or pantry.

*Make time for crafts, organization or home projects.