New Year resolutions can be difficult to keep because much of the time, we tend to aim a bit too high. Instead of declaring that we’ll exercise one more time per week than last year, we set a goal of exercising every day. It’s no surprise these resolutions sometimes don’t pan out. The key to keeping resolutions? Start small. With that in mind, here are some financial New Year resolutions that you’re likely to keep.

Save More

As CNBC reports, almost everyone can save a little more than they already are. Make this resolution stick by going through your budget and setting a realistic goal. Trim excess expenses and see where your budget sits afterward. Take those extra funds and add it to your 401(k), your emergency fund or other savings vehicles. Do it automatically once or twice a month to give it extra staying power.

Improving Your Credit Score

It’s time to increase that credit score. Make a goal to bump it up in 2022 by paying down your debt and paying bills on time. If student loan debt is holding you down, look into payment options, like income-based payments and graduated payments, the latter of which start lower and then gradually increase over time. If you have trouble keeping up with bills, set up autopayments or even reminders in your calendar.

Pay Off a Card

Want to pay off a credit card completely? Try using a balance transfer credit card. Search for a card that offers no interest for at least a year. Transfer the debt from a high interest card to the balance transfer card. Then use the money you’re saving on interest to pay down the debt quickly. Just make sure the balance transfer fees don’t eat up all of your potential savings.

This guest article is from the Your Money Blog in Mid Oregon’s Digital Banking Credit Savvy resource. It is made possible by Savvy Money. “What You Need to Know about the 2021 Child Tax Credit” by Chris O’Shea was published in January 2022.

Want to learn more about setting and achieving your financial goals in 2022? Check out our recorded webinar “Achieving Your 2022 Financial Goals“, presented on January 13, 2022.

Read additional articles about New Year resolutions and goals.