With the new year, millions of people resolve to diet, exercise more or make changes in other aspects of their lives, including personal finances. For most of us, personal finance-related resolutions are a combination of spending less, saving more and maybe paying off some debts. Some of the newfound attention to our financial outlook may even stem from an expensive holiday season that just wrapped up. But the new year offers new opportunities to get on track.
Written by J. Michael Collins, the Fetzer Family Chair in Consumer and Personal Finance at UW-Madison and a professor in the La Follette School of Public Affairs and the School of Human Ecology.