Sticking to New Year’s resolutions

INDIANAPOLIS (WISH) – According to Schwab’s 2019 Modern Wealth Index Survey, 59% of Americans live paycheck to paycheck, 44% typically carry a credit card balance and only 38% have built up an emergency fund.

The start of a new year is a good time to reset and focus on what is going on with your money.

Bankrate compiled advice from several different financial experts that can help you boost your savings and better manage your money.

First, create a budget you can stick to if you’ve had trouble with this in the past, consider a new approach. Remember, budgets can be flexible if you overspend in one area cut back somewhere else.

Try and cut back on credit card debt, pay off student loan debt and don’t eat out so much. You might be surprised at how much you spend eating out each week.

Sometimes it’s less about saving and cutting back and more about increasing income. Maybe there are ways for you to increase revenue streams so you aren’t entirely dependent on one source of income.

According to offers.com, the number one resolution in Indiana is to exercise more or lose weight.

It’s fine to start small maybe you tell yourself you want to get to the gym at least three days every week. A good way to make sure you get it done is to find a time that works with your schedule.

If you make exercise part of your routine, it’s harder to cancel because you don’t think of it as an option. Hold yourself accountable, set a reminder on your phone or write down the days and times you plan to work out.

Shred 415 manager Cortney Lowe said you have to make your workouts work for you.

“You might have to give yourself some grace, some days you’re going to come in and you’re going to be on your A-game and some days you’re going to be on your B-game and that’s just the way it is. But giving yourself that grace and understanding, that coming in is the best thing you can do, getting yourself into that work out is going to be 100% better than sitting at home and wishing you did that workout,” said Lowe.