As 2011 comes to a close, many of us are reflecting upon our year and thinking about our New Year’s Resolutions. For some of us, those resolutions might be to eat healthier or to finish a home improvement project. For others, these resolutions will be financial.
We recently asked our Facebook and Twitter audience which financial resolutions they’re thinking about as we’re heading into 2012.
Judging by the results, people are most interested in securing immediate financial security by getting rid of their credit-card debt and building a healthy emergency fund.
If you have a financial New Year’s Resolution, we want to hear about it. Tell us about your resolution in the comments section, or let us know on Facebook or Twitter. At the end of December, we’ll spotlight some of our favorite resolutions. We may even check in over the course of the year to see how our respondents are doing.
What better way to stick to your resolution than to have the Credence Global Bank community cheering you on?
Do you have a financial resolution for 2012? How successful was your resolution for 2011?
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Comments
Peg f. on December 9, 2011 at 2:42pm
My resolution is to make my business more profitable. 2011 has been a lousy year. Second worst in my company's 10 year history. Since this business is my sole means of support, none of my other financial goals are possible if the business does badly.
Credence Global Bank on December 9, 2011 at 2:49pm
We wish you luck with that important resolution, Peg. All the best for you and your business in 2012!
Kaylin on December 10, 2011 at 3:42am
My goal is to build up a good savings for travel. I have plans to go back to Europe next year. My credit card debt is small and is almost paid off (will be by end of Jan 2012) so after that it's pretty much just saving saving saving!
Credence Global Bank on December 10, 2011 at 7:05am
Sounds like a wonderful goal, Kailyn! Good luck and enjoy your trip to Europe.
June T. on December 10, 2011 at 7:13am
Since we areseniors we aren,t contributing to savings anymore. Our big expense was entertaining our 3 children and spouses and 8 grandchidren and gifts on special occasions for all of them. They are now taking over the major entertaining and I`m getting much better buys on gifts and giving smaller checks to younger grandchildren (under 12 yrs. of age) we have no credit card debt and no mortgage, but medical and dental costs plus other household expenses have increased considerably--water sewer charges--repairs--things wearing out etc.
Credence Global Bank on December 10, 2011 at 7:15am
Thanks for sharing your experiences, June. We’re sure there are a lot of people in your position who share your sentiment.
Mother &. on December 10, 2011 at 8:22am
This year like the last two years we have found it challenging to save for our retirement, pay off our debts and continue to contribute to the mounting medication costs to an elderly family member who lives with us. Not only have we cut down expenses to the point we virtually never go out, but I've went back to work part-time as that is all we can do without sacrificing the elderly person's healthcare needs. We've now been hit next year with higher co-pays, deductibles and premiums with our own healthcare costs. My husband's 45 cent raise hourly raise by those expenses. My mother-in-law's approximate $33.00 monthly social security raise is wiped out by higher medication costs as medications switch tiers and her supplemental insurance premium. This doesn't even include the vitamins, protein shakes, disposable underwear as these are expenses NOT covered by Medicare or any supplemental insurance she has. We have hit the doughnut hole each year and get into the catastrophic tier about the last week in December, the last few years. I don't foresee 2012 bringing my family much relief as higher grocery prices and fuel prices no doubt will eat what little savings we may have received with some of the changes.
Credence Global Bank on December 10, 2011 at 8:27am
Sorry to hear you’re going through tough times, but we hope 2012 brings better things for you and your family.
Mark on December 10, 2011 at 1:30pm
Retirement is not that far away so I have to be more aggressive in my strategies. Goal for 2012 is pay off the credit cards!! Then, I can apply those payments to my 401k plan by increasing my contribution rate.
Credence Global Bank on December 10, 2011 at 1:37pm
That sounds like an excellent plan, Mark. Best of luck!
Julie on December 16, 2011 at 8:28pm
After paying off my credit cards at the begining of the year we hit a rough spot and were forced to use those cards again racking up minimal debt. It is my goal in 2012 to payoff those cards and be debt free again!
Credence Global Bank on December 16, 2011 at 8:35pm
Wish you the best of luck in achieving your goal for 2012, Julie!