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Those New Year's Resolutions: Wealthier & Wiser

BOSTON (CBS) - According to Fidelity Investments®' seventh annual New Year Financial Resolutions Study, the number of Americans ringing in the New Year by making financial resolutions is on the rise, with 37 percent considering at least one.

The study pointed out that folks wanted and needed help to accomplish such lofty goals as spending less or saving more. Fidelity put together a list of the top 10 financial resolutions folks wanted to accomplish and more important they added resources to help achieve these new resolutions. We will cover the 10 financial resolutions and you can link to Fidelity's resources from our website here at WBZ.

#1: Spend Less

We all want money left over at the end of the month. To achieve that goal, you need to figure where you are spending your money each month. Look at your cash flow. What comes in is easy. Now figure out where it goes each month.

Do you eat out 2 or 3 times a week? That alone puts a hole in your budget and cooking more meals at home is an easy way to spend less. Another budget buster is impulse buying. Do you need it or do you want it? Address those 2 and you may be on your way to spending less.

Fidelity's Resources:

#2: Save More

Well if you can spend less it would stand to reason you will save more. If you figure out how to have more money left at the end of the month consider making savings automatic. Most of us do not have the discipline each month to sit down and write out checks to our various savings accounts. If we make it automatic the discipline is built in.

Consider contributing money to your 401(k) at work or increase your contribution. Have money debited from your checking account each month for the kid's college account or your emergency fund. Start an IRA if there is no retirement plan at work.

Fidelity's Resources:

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