Implementing New Year's Resolutions

Millions of people make New Year’s resolutions every year, hoping to spark positive change.

In addition to a more active approach to health and fitness and learning new things for personal and professional development, many of us seek to improve our finances.

But despite the best of intentions, once the year’s newness wears off, over half of us struggle to make good on our plans. According to a study published in the Journal of Clinical Psychology, only 46 percent of those who make New Year’s resolutions are successful.

So how can you ensure that your resolution — financial or otherwise — sticks around? By creating new habits.

To keep nudging yourself in the direction you’d like to go, check out Harvard Health Publishing’s seven tips to help create lasting change.


1.  What is the annual contribution limit for an employee-sponsored retirement plan, such as a 401(k), if you’re age 50 or over?
b. $26,000

2.  Health-care FSAs allow workers to stash away pre-tax money for qualifying expenses that insurance doesn’t cover. Under normal circumstances, when must one use up the money in their account?
b. by December 31

3.  What is one way to prevent good financial habits from falling apart as the year goes on?
a. To set up automatic transfers from a checking to a savings or investment account.


The material shown is for informational purposes only and should not be construed as accounting, legal, or tax advice. Hilltop Wealth Solutions is a registered investment adviser with the Securities and Exchange Commission; registration does not imply a certain level of skill or training. While efforts are made to ensure information contained herein is accurate, Hilltop Wealth Solutions cannot guarantee the accuracy of all such information presented.