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Here's how to get your New Year's financial resolutions back on track

Here's how to get your New Year's financial resolutions back on track

Finance
Whether it was an unexpected expense or an impulse purchase, chances are you've slacked off on your resolution to save more and spend less. That's OK. Most people typically give up on their financial resolutions six weeks into the new year, according to a survey from LearnVest. This year is no exception, even though more than 4 in 10 Americans said losing debt is a top priority — even over shedding weight, according to a survey by CompareCards.com. "Weight isn't necessarily something that impacts people in their everyday lives," said Matt Schulz...
Ring in 2019 with these 6 basic financial resolutions for retirement

Ring in 2019 with these 6 basic financial resolutions for retirement

Finance
Saving more for retirement is a common New Year's resolution. This year, the pledge comes in at the number five resolution in Principal Financial Group's annual survey of 1,008 American consumers wishes for next year, with 21 percent of respondents stating a desire to sock away more for their golden years."The new year is a chance for new opportunities and a clean slate," said Jerry Patterson, senior vice president of retirement and income solutions at Principal, in a statement. "The challenge will be taking those good intentions and making them last into February and beyond."Many financial experts advise upping your retirement savings rates past your company match (typically somewhere around 5 percent of salary) to double-digits, to 15 percent of pay or more. The more you save, the earlie...
Strengthen NCLT infrastructure to speed up resolutions: RBI

Strengthen NCLT infrastructure to speed up resolutions: RBI

Finance
Mumbai: The central bank has called for strengthening the infrastructure at the National Company Law Tribunals (NCLT) to ensure time-bound resolution of stressed-asset loans in the banking sector, where the problem of mounting bad debt has prompted curbs on the normal operations at several high-street lenders. In its Trends and Progress in Banking for 2017-18 released on Friday, the Reserve bank of India (RBI) underscored the need to strengthen the NCLT infrastructure to accommodate the likely large number of cases that may be referred to the dedicated bankruptcy courts. Better resolution will also have a bearing on the future of the loan repayment culture in India, where the Insolvency and Bankruptcy Code (IBC) was enacted in December 2016 to quicken insolvency resolutions. “Minimis...
An emergency fund could save your financial resolutions

An emergency fund could save your financial resolutions

Finance
A decent rainy-day fund could be vital to keeping your New Year's goals.Among the nearly 7 in 10 adults who plan to make a financial New Year's resolution, 40 percent have a goal of setting and following a budget, according to a forthcoming report from the National Endowment for Financial Education. Getting out of debt is a resolution for 39 percent, while 32 percent want to establish savings and 31 percent hope to boost their retirement savings.The organization polled 2,165 U.S. adults in mid-December.But there are plenty of roadblocks to meeting those goals: Sixty-three percent of those surveyed said they experienced a "financial setback" in 2017. Common financial shocks included transportation (23 percent), housing repairs or maintenance (20 percent) and an inability to keep up with deb...