This is an archived article that was published on sltrib.com in 2011, and information in the article may be outdated. It is provided only for personal research purposes and may not be reprinted.

It's not too late to make a financial resolution or two for the new year. In fact, many experts say once the holidays are over — and right about the time your credit card statement arrives — is one of the best times to put money-oriented goals in place.

Let's start with credit cards.

Depending on how you use them, any of several different efforts can put you in vastly better shape by this time next year, said Bill Hardekopf, founder of the consumer-oriented website, LowCards.com.

If you carry a balance from month to month, start with a resolution to pay on time and not go over your credit limit. Under new federal rules, credit card companies are looking for ways to generate extra revenue, and penalizing those who pay late is one way they can make money. Also, read your disclosure statements to avoid other costly fees for other infractions.

Here are other good resolutions from LowCards.com:

• If you carry a balance, pay more than the minimum payment each month. Set an amount and stick to it.

• As a more drastic step, avoid charging any more to your cards (or select cards) by either cutting them up or putting them on ice (literally).

• Come up with a plan to pay off your cards. Of all your loans, chances are your cards have the highest interest rates.

Is your credit card paid off? Next to card debt, perhaps the biggest financial issue for American families is not enough savings for emergencies. The two are intertwined, of course, because without adequate savings, an unexpected car repair or other crisis can force a family to rack up bills on credit cards.

Although the general rule is to have three to six months of living expenses in an account that you don't touch, any amount of money you set aside can help. Consider putting aside a specific amount of money each month into an emergency account. Most banks can set up automatic transfers from checking accounts.

On to other goals. Jennifer Rohn, with the Salt Lake City counseling group AAA Fair Credit Foundation, suggests that you set out to find where your money goes. Sounds simple, but this endeavor can help families turn around their finances.

To start, set aside some time to take an inventory of your monthly income and what bills must be paid each month. Review several bank statements to track discretionary spending, as well, and get ready for an eye-opening experience. Just how much do you spend eating out each month, or on Starbucks? How about on new clothes, for you or your children?

Once you know, you can make decisions —and resolutions. Rather than cutting spending in one area altogether, consider small steps, such as trimming drive-through trips to your favorite smoothie shop to two days a week from five.

Also examine more essential monthly expenses, such as your automobile insurance and cable and cell phone bills, to see if you can realize any savings with a cheaper plan.

Another good goal is to make sure your credit report is in order. The better your credit, the lower the rate you're going to pay on many types of consumer loans. Start with ordering your credit report, said financial counselor Ann House.

You can get a copy for free by going to AnnualCreditReport.com, a site set up by the nation's three main credit-reporting agencies — Experian, Equifax and TransUnion — to comply with a federal law requiring them to provide consumers with one free credit report annually. That means you could go to this site every four months and get a free report from a different bureau.

Your three-digit score is important because it reflects the quality of your credit history. (The higher your score, the better.) You can learn more about credit scores by going to MyFico.com, operated by Fair Isaac & Co., and also order your personal score for $15.95. (You can get your score for free, but you'll have to sign up for the company's credit-monitoring service.) There's also information showing how people with higher credit scores pay lower rates for mortgages and other types of loans than those with lower scores.

And here's one last idea. If you aren't using coupons to cut spending, set aside some time to at least consider it. Although the Sunday newspaper is a good source of coupons, so is the Internet. Consider following a few blogs to get alerts to money-saving offers at the grocery store and beyond, including coupons you can print right off the Web.

There are plenty of money-saving offers on my blog, and some of my other favorites include UtahDealDiva.com, Freebies2Deals.com, Coupons4Utah.com and BargainDivas.com. —

How to get your resolutions to stick

1 • Put them in writing and in a place where you'll see them every day.

2 • Create an action plan. Break up your resolutions into weekly or monthly milestones because you can't change your spending habits in a day or week. Milestones help keep you motivated.

3 • Get help. Go to UtahSaves.org for a variety of resources, including classes that can help you learn more about personal finance. Click on "Saver Resources."

4 • Reward yourself. When you reach a milestone, give yourself an inexpensive gift or treat.

5 • Find (or create) a support group. Tell people around you about your goals because it's easier to stick with them when you're accountable. Share your ideas and victories (and your slip-ups).

Source: AAA Fair Credit Foundation