Advice: Staying 'financially fit' in 2014 - New York News

Advice: Staying 'financially fit' in 2014

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ATLANTA, Ga. -

You are starting your new year with a financial plan - but then life happens. How do you stick to your plan? Scott Scredon of ClearPoint Credit Counseling shares some financial advice.

Click the vide above to learn more of Scott's advice for the new year.

• To start making changes in your financial life, make your plan simple, measurable and realistic.

• Make changes gradually. If your goal is to save, your first task is to find $20 that you can save consistently, every week or every month.

• To reduce your spending identify the easy cuts first. Look at all of your expenses and find products and services you either don't need or don't use. Do you subscribe to cable channels you never look at? Recurring costs like these eat up a budget over the course of a year.

• If you don't keep a close eye on where your money goes over the course of a month, download a budget tracker or simply put a pen to paper and write down everything you spend for 30 days.

• A good way to reinforce and reward your new spending habits is to set up a savings account devoted to reflect the "new financial you." Arrange for a scheduled automatic deposit to the savings account and pat yourself on the back as you watch the balance grow.

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