Easy Financial Resolutions for the New Year

GRAND RAPIDS, Mich. - Jan. 2, 2015 - PRLog -- The turn of the calendar from 2014 to 2015 offers new beginnings, whether you're determined to eat better, exercise more or get your spending habits on track. Here are a few simple tips to spend less and save more in the New Year.

To spend less:

- Keep your eye on the prize. What are your long-term goals? By picturing the house you'd like to buy, the college you'd like to send your children to, or the vacation you'd like to go on (among other things), you'll be less likely to put your goals at risk through impulse purchases.
- Write down your expenses. When determining if there is something you can cut (e.g., buying a cup of coffee), ask yourself if the purchase in question gets you closer toward achieving your goals. Is it a need or a want?
- Review your insurance coverage. It might be time to reevaluate the amount and type of coverage you have, depending on the number of children you have living at home and whether or not your house is paid off.
- For big purchases, wait at least one week to ensure you're making the right buying decision.

To save more:

- Automatically deposit a portion of your paycheck into a savings account. You can't spend what you don't see, right?
- Explore tax-advantaged vehicles such as IRAs, 529 plans and annuities.
- For your taxable accounts, consider choosing investments that have lower fees or offer tax advantages, such as municipal bonds, exchange-traded funds (ETFs) and index funds. This gives you the potential to keep more of what you earn.

If you're hoping to start 2015 on the right financial foot, contact your Edward Jones financial advisor. Through our 5-step Process, we can review your entire financial picture to help ensure you not only get on track – but stay there as well.