Ask the Readers: What Are Your Financial Resolutions for 2012?

By Ashley Jacobs on 3 January 2012 (Updated 10 January 2012) 103 comments
Photo: Images Money

Editor's Note: Congratulations to B, cwaltz, and Lynda for winning this week's contest!

With the New Year comes a chance to make new resolutions. From going on a diet to spending more time with family to landing your dream are, chances are you’ve made at least one resolution for 2012. Hopefully one of your resolutions was a financial one!

What are your financial resolutions for 2012? Saving more money/? Paying off your debt? Or being more frugal in your day-to-day life?

Tell us about your 2012 financial resolutions and we'll enter you in a drawing to win a $20 Amazon Gift Card!

Win 1 of 3 $20 Amazon Gift Cards

We're doing three giveaways — one for random comments, one for random Facebook "Likes", and another one for random tweets.

Mandatory Entry: 

  • Post your answer in the comments below 

For extra entries (1 per action):

  • Go to our Facebook page, "Like" us, and leave a comment on this article telling us you did, or
  • Tweet your answer. You have to be a follower of our @wisebread account. Include both "@wisebread" and "#WBAsk" in your tweet so we'll see it and count it. Leave a link to your tweet (click the timestamp for the individual URL) in a separate comment.

If you're inspired to write a whole blog post OR you have a photo on flickr to share, please link to it in the comments or tweet it.

Giveaway Rules:

  • Contest ends Monday, January 9th at 11:59 pm Pacific. Winners will be announced after January 9th on the original post. Winners will also be contacted via email.
  • You can enter all three drawings — once by leaving a comment, once by liking our Facebook update, and once by tweeting.
  • This promotion is in no way sponsored, endorsed or administered, or associated with Facebook.
  • You must be 18 and US resident to enter. Void where prohibited.

Note: Due to recent changes in Facebook's promotions guidelines, we have restructured the entry format of our giveaways.

Good Luck!

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Guest's picture
Christie

This year...I'm going to keep on doing what we've been doing for years! Living frugally, enjoying our saved-up-for splurges (especially the DisneyWorld trip we're planning!), and keep the unnecessary spending in check. Still working on padding the emergency fund and saving for things in the future.

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Lani C

Sticking to our budget!!!

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Lani C

I like you on FB

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Carson M.

Be more generous to others and myself.

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Therese

I hope to pay off my student loans this year!

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Joye

We are focusing on downsizing our credit debt big-time

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My financial resolution is to pay off my 0% interest credit card before it has any interest! I'm working hard to try and get there!

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I like WB on Facebook!

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Amanda Novak

My 2012 financial resolution is to be 100% credit card debt free. I also want to start saving more money each month to create an emergency account.

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Amanda

I'm doing something like BofA's "keep the change" program, and putting a way a tiny bit every day to balance my account to end in .00. It's not much, but it's something more than before.

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Amanda

I've been a Fb fan for some time.

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Amanda

https://twitter.com/#!/abczoomom/status/154218614826860544

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Terry

I resolve to spend less money on new books. My neighborhood Borders closed, but Amazon is a big temptation. I will wait for ebay bargains for any must-haves.

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Guest

This year I resolve to track my spending better and be debt-free!

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Jerry

Get the heck out of Maryland before it's time to tap my IRA, to avoid the 8% state + local income tax. And no, there is no corresponding lower real estate or sales (6%, 9% on alcohol) tax.

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Dawn

My resolution is to not use our credit cards for anything, CASH ONLY!

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B

I've often set savings goals, but after creating the goals never put the requisite effort into fully accomplishing them. This year, I resolve to exercise more diligence in saving with a special focus on retirement. I've gotten started by setting up automatic payroll deposits into a savings account that's not accessible on a whim. In three months, I will reassess my budget and open a Roth IRA to complement my TSP.

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Kandapa E

I resolve to be more aware of my spending habits and focus more on saving. Maybe if I do it well enough, I can work a family trip into the budget!

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Kandapa E

I already like you on FB!

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Nicholas

Seeing as the only debt I have is my car loan, my financial plans for this next year is to save as much money as possible for a down payment on a house. I have enough now to feel comfortable but more is always nice!

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Nicholas

Been a an on facebook for a while and liked you and the article!

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Guest

I am being more frugal and hopefully environmentally friendly in my day to day life. I am making everything I can from home like shampoo, bath salts, dishwasher and laundry soap. I switched to cloth diapers and wipes and started making my own baby food. I am eating out less and cooking more meals at home with less convenience foods. I am planning a vacation, and these savings are going to make it happen.

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Jenn

A big financial goal for me is to not spend money while at work, reducing unnecessary snacking is an added benefit! My husband and I are both working on spending less and saving more, it is reassuring to have someone else counting on you and keeping you in line with your goals.

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Shannon

Our financial resolution for 2011 is for my fiance and I to save $10,000 towards a house we want to eventually purchase in 2-3 years.

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Diane

My first financial resolution for this year is to set up an automatic savings withdrawal from my checking account into my ING savings. Second is to reduce (hopefully STOP) recreational shopping for the first quarter of the year. Hopefully this will become a new habit...

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Diane

I like Wisebread on FB~

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Rachel

I resolve to develop some new income streams. No more relying on one paycheque!

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Christie

I commented and liked on Facebook. Can't wait to see what this year brings!

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Sunny

My financial New Years resolution is to make enough freelance writing income to subsist on that side income for my grad school loan payments.

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Ali

Pay $15 extra on my car loan each month and continue saving a portion of each paycheck to make a large sum payment on my student loans.

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Selene

I'm going to set aside my "little" savings (such as coupon and rebate money) so build into big savings.

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Selene

I'm going to set aside my "little" savings (such as coupon and rebate money) so build into big savings.

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Selene

I Like Wise Bread on Facebook as Selene Montgomery

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Raina

There's a certain amount in savings I'm hoping to hit. Barring theft or disaster, I think I'm definitely on track.

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Raina

I liked WiseBread on Facebook.

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This year, I'm going to duplicate my consulting business income with other sources of revenue. I want to diversify my income, and create some "paid time off". :)

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Joe

Now that my involuntary divorce is done, the dust has settled, and the holidays are over, find my financial sweetspot as a single parent; pay the lawyer, pay the child support, get ready for college because I know I'll be the only parent chipping in, and otherwise figure out how to enjoy myself as well.

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Financial Resolutions: Build a larger emergency fund, pay an extra $1200 to student loans, buy a second car with cash. Bring it, 2012!

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Fourth financial resolution tweeted! https://twitter.com/#!/lilmsmoneybags/status/154281545585278976

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Alex J

My hope is to get a more firm grasp on my own financial picture.

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Kandace

Our biggest goal is to have monthly financial meetings together. Previously, my husband and I discussed big expenses but I handled the day-to-day and monthly budget on my own. We're both in this together and now we're both discussing $ matters together.

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kathleen

get out of credit card debt once and for all.

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Happy

Paying off a couple of deferred interest credit cards before the 0% interest period ends.

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Michelle

My goal this year is to get my car paid off - at the very least paid WAY down. I will keep that forefront in my mind so as not to get distracted by projects around the house!

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Jennifer

Having just finished Christmas 2011, my resolution is to spend less on Christmas 2012! I have already bought several things at 75% off this week that are going into a box for next Christmas, as well as craft supplies to make a few homespun things. I'm looking forward to seeing how much I can save!

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Sue

Spend on what I need not what I want. Save more for retirement.

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Carmen

No more late fees!

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Chloe

Helping my kids find the best college and grad schools, post-scholarships!

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Guest

My financial resolution is to save as much money as I can and put the money I save into being charitable.

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Lisa

This year my financial goals will be geared towards continuing to pay down debt. Several bills will be cleared in a few months so the amounts paid onto them can roll over to pay other debts. I'll continue making the best use of my resources through frugal living and creative ideas.

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Kristy OT

My goal is simply to have a higher net worth on 12/31/2012 than I did on 12/31/2011.

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Keith

spend less money on food!
liked on facebook!

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Justine

This year I'm going to finish paying off my credit card debt and contribute 15% to my 401k by the end of the year!

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Kandapa E

Tweeted!

https://twitter.com/#!/Anacin368/status/154304986157813760

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Mo

We've been debt-free for almost 2 years, so this year we want to be able to give more than we spend on ourselves (excluding re-curring bills such as phone/gas/electric, etc) as well as sink 50% of our total household income (one of us sinks our entire year's pay). This will position us for cash purchase of a retirement home in 36 months.

We are also designing our organic gardens in a way to re-purpose/re-use scrap materials and wood pulled from dead trees on our property for vertical and raised level plots and potagers. Approx 30% of our seeds are saved from 2011. 2012, we want to save 90% and be able to begin sharing with others. This will save us approx $600 annually and we can pass along the savings.

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Gary S

I'm going to eat out a lot less and hold off making any big purchases, let myself "cool off" before I pull the trigger.

I like you on FB and I'm tweeting from @jacklope now too

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Gary S

http://twitter.com/#!/jacklope/status/154326810866352128

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James

We are planning on starting our retirement funds, and trying to get to a place where our money is working for us a bit better. We are also hoping to transfer our money to a credit union, where we feel it will be safer and better used.

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Francesca

My financial resolutions this year are no different than my resolutions last year: to be cautious and frugal so as to be able to get by. At some point, I'd really love to start an emergency fund.

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Francesca

https://twitter.com/#!/fmhern/status/154386224889602048

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Stormy Ranew

This year we plan on paying down as much debt as possible and repairing our credit

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Guest

My money resolution is simply to pay down my debts!!!

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3 Main things:
Go to Grad School
Start saving towards a 3-6 month emergency Fund
Look into funding a House.

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kristina

Save more money.

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Karen

We made our goal of being debt free last year. This year I would like to continue to stick to my budget, find a job (unemployed, still!) and save more.

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philosophotarian

This year I am going to eliminate all credit card debt and begin rebuilding my savings account. I also plan to drum up enough freelance work to pay for my monthly 2# of coffee (this is a modest goal).

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Guest

I am saving $1000 a month to put toward buying a house. It has not been easy but I know it will be worth it!

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Patrick

In 2012, I need to get a better handle on the monthly financial leakage I've seen over the past few months. There's always at least one category where I'm over budget each month. One month it's groceries, another it's entertainment due to some one-time program for the kids, one month it's car repairs. If I could stop the small one-off leaks, I could probably save $5000 or more this year.

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Lori

Our 2012 financial goal is to cut our debt in half and lower our weekly grocery bill by 25%, using that to increase our savings.

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Lori

Our 2012 goal is to cut our debt in half, as well as cut our weekly grocery bill by 25% and use that to add to our savings.

I have also liked your page on Facebook.

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Nona

I resolve to live completely by the 10/20/70 rule. Tithe 10%, save 20%, live on the remaining 70%

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mkibrick

Continue our amazing progress from last year. This year we will focus on a home down payment and saving for my impending student loans. I'm hoping to end the year by finding a great job.

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Kaye

I did a post about it, but this is the gist of it:

Pay off $10K in debt, tithe each and every paycheck, get rid of timeshare, reread Total Money Makeover (for motivation) and cut up my one despised credit card.

Thanks!

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KelR1

This year I will NOT use a credit card for any non-emergency purchases so as not to incur any more debt while I pay down my existing balance. I also want to add to my savings.

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Joanna

Last quarter, I had a string of careless mishaps that caused me to buy replacements for items I broke or lost. I'm usually not that careless and these items weren't expensive to replace, but still. My financial resolution for 2012 is to be more mindful of my things so they can last and/or not get lost or damaged.

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Guest

Go back to graduate school, so that I can increase my income.

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Lynda

build up an emergency fund

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Lynda

tweeted https://twitter.com/#!/oshkoshbgosh123/status/154737955464949761

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Lynda

i like wisebread on fb

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Lois

I'm going to really focus on our retirement savings.

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Fernanda

My goal is to pay off debt - I can only do that if I am frugal and also get a little job somewhere making some money to pay off the debt faster... at least that is my plan.

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Lois

Liked you on Facebook

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Rebecca B. A. R.

My resolution is to save another $600 on our only income, unemployment insurance, if my husband or I don't find a job. If one of us do, then I want to save even more.

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Dianne

My financial resolution is to save money on healthy and organic produce by going to the farmer's market and having a garden of my own.

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Dianne

I liked you on Facebook.

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GL

My main resolution is to save up enough cash to buy a condo.

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GL

I "liked" you guys on Facebook ages ago. :) I "liked" the link to this article and left a comment on your page.

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GL

Tweeted my answer for my third entry: https://twitter.com/#!/grigorylukin/status/154834093434085376

Thanks a lot! :^D

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Margaret Davis

I have a business goal and a personal goal:
For business my goal is to restucture my billing to better cover my costs.
For personal my goal is to (finally) establish an emergency fund.

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LISA

Sticking to the meal/food budget and scaling back on dining out - $200 to $100.

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Mark Nemitz

I've decided to eliminate SODA and opt for more WATER this year. I know it will not only be cost-saving but also healthier for me.

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Mark Nemitz

I "liked" Wise Bread's Facebook page & left. Wall post as well. Great site!

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Debra

My first financial goal is to pay off all medical bills in 2012. After that is accomplished, I will make another one (probably putting extra money toward student loans or something).

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Alissa A

I want to pay down my house loan and stop eating out so much!

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Verhanika

My financial resolution is to be more mindful of my spending. Not just spend to fit in, but to make sure my discretionary money is going to things that will actually make me happy or improve my life.

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Elizabeth

I think this year my financial goal is to see a higher ROI on the money I put into my photography and videography business this year. I am just getting started with higher end equipment so it was quite nerve-wracking. I also need to become more frugal with my online shopping habits...

Liked your FB page!

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Guest

I resolve to keep answering these interesting questions until I win an Amazon discount coupon.

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Tasha

I like your page on Facebook and We are trying to save our money for retirement.

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Dee Dee

Save enough to pay our property taxes in full early so we can get the discount.