Just about everyone resolves to do something different in the New Year, and often it has to do with money. The insanely vague “save more” or “get out of debt” may ring a bell. You may also resolve to, say, set up a six-month emergency fund or avoid late fees. Yet such money-themed resolutions tend to get forgotten even faster than a new Buns of Steel workout video. Why? Changing money habits is hard work. So don’t get distracted by multiple and inadequately defined goals. Choose one and be specific. Want to save more? Pay yourself first with an automatic debit account that gets up to 10% of each paycheck. Too much debt? Target one credit card at a time, starting with the one with the highest interest rate. Resolved to avoid late fees? Set up automatic minimum monthly payments through your bill-pay system. Pick one and stick to it.
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