How To Make Financial Resolutions That Will Stick

The thing about New Year's resolutions, famously

, is that they're hard to stick to.

The problem is not necessarily coming up with a good idea - there are few of us who wouldn't agree that we could be better with our money, more productive or more organised - but that's not much good since those things are easy to say but hard to achieve or hard to achieve with any solid result.

The key to making resolutions that will actually stick is having a clear goal which can be achieved within the year.

Luckily, such guidelines come built in with a number of products that can help you to manage your money.

When you come to compare credit cards, for example, 0% balance transfer credit cards can help you to pay back a large debt over a long period of time without getting caught up paying a large amount of interest on the money that's been borrowed.

In that case, the zero interest period is limited and that means that people making the resolution are likely to pay back the debt sooner rather than later and in a more proactive way than they might if it were accruing interest.

On the other hand, there's another kind of resolution that means just one action with have recurring benefits down through the year and in the years to come.

When it comes to looking to compare current accounts, for example, a swift initial benefit - for example, a cash bonus for moving the account - could be accompanied by a long period during which you're not paying for a high interest overdraft or for fees you would otherwise have encountered.

In short, you not only gain a initial benefit but eliminate what would otherwise have been stresses on this area of your life - for example, pointing out fees that are problematic to your bank and having them corrected.

This is also true when you come to compare savings accounts.

In that case, a good fixed-rate account could continue to accumulate interest over a number of months which is certainly a good New Years financial resolution and will certainly be easy to stick to.

by: Julia Cook

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