(Matt Slocum/AP Photo)

Millennial Money: Rekindle fizzling financial resolutions

Save extra, spend much less and repay debt are in style New Year’s resolutions — and maybe those most probably to fall by the wayside just a few weeks into the 12 months when actuality units in and bills derail plans. But an early-in-the-year setback, like paying your medical insurance deductible or the bank card payments after a pricey December, does not should knock you off target.

After all, you made these resolutions, so you possibly can change them. And making extra particular resolutions which can be simpler to take care of somewhat than simply giving up may put you in a greater financial place subsequent 12 months. Here’s easy methods to get again on observe.

FILE - In this June 15, 2018 file photo, twenty dollar bills are counted in North Andover, Mass.  Whether your New Year’s resolutions were to save more, spend less or pay off debt, life might already be getting in the way. Unpredictable expenses early in the year can complicate your goals, but they don’t have to knock you completely off course.


Broad resolutions like “I need to save extra this 12 months” is usually a useful place to begin, however they make it laborious to trace your progress. Keeping a particular objective in thoughts — like a marriage, debt cost or shopping for a home — places a greenback quantity to your financial objectives and provides you one thing concrete to work towards.