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LSS Financial Counseling offers financial advice to achieve double win on popular New Year’s resolutions




Lutheran Social Service (LSS) Financial Counseling is sharing some advice for consumers who are facing another new year with budget and debt concerns. A recent survey by Fidelity Investments revealed that more than a third of Americans intend to make a financial resolution for 2017. However, LSS sees potential for every resolution to benefit from a financial checkup.

“Resolutions are often hard to keep,” said Cate Rysavy, Sr. Director of Financial Services with LSS. “The key to success is having access to the right tools and support for the job, and using them to reach achievable goals.”

Financial Wellness and Your Resolution


These are popular resolutions for 2017: save money, get organized, quit smoking or drinking, get a new job or a raise, eat healthier and exercise, and learn something new. Although there appears to be only one financial resolution, there are in fact six. 

Getting organized
can be a financial opportunity and a financial strain. As you take stock of your things, really consider selling things you don’t use regularly. Your space is decluttered and you have some extra cash for your financial goals! However, beware the organization money pit. Storage solutions can add up, so be sure you create a budget for this process. 

Quitting smoking or drinking
can have a huge health benefits, but there are also some big financial benefits. Depending on personal habits, cigarettes and alcohol can get extremely expensive. Let your wallet be an inspiration for keeping this resolution. 

Getting a raise or a new job
is an ambitious resolution which comes with its own financial questions. Does a new job come with any new financial strains like extra gas for travel or a tempting cafeteria just a little too close to your desk? Are the benefits similar or will your insurance be undergoing some changes? Make sure you look for any hidden costs of a job switch. If you get a raise or a higher paying job, how do you manage that extra cash? Put that extra cash to work to pay down debts, start an emergency fund or begin investing in your future.

Eating healthy can be a big challenge with a huge payoff. If you spent 2016 grabbing take out for lunch, you will save a bundle in 2017 by bringing healthy, homemade meals. Your wallet and stomach will thank you. Exercise, however, can be a strain on a budget. Gym memberships, workout clothes or home equipment can add up fast. Work these expenses into your budget or consider some lower cost options.

Trying new things is a great way to spend the year, but the cost definitely needs to be considered.  With some thoughtful planning, you can go skydiving, learn to knit, or take salsa lessons without adding financial stress.

Let LSS Help You Achieve Success


If debts are standing in the way of your 2017 goals, consider a Debt Management Plan (DMP). A DMP is a simple fast way to pay off your debt. The beauty of a DMP is that with on-time payments your credit cards will be paid off faster and your credit score will improve. Also, you will save a lot of money in interest payments due to the reduced payout period and typically lower interest rates on a DMP. Interest rates are on the rise, so bringing unpaid debt into the New Year leaves less to celebrate once the clock strikes midnight. 

The key to success is knowing what options are available, and making informed choices based on the facts and your personal financial situation. For help making those goals a reality, speak to an NFCC certified counselor with LSS. To get started today, call (888) 577-2227 or visit www.conqueryourdebt.org  

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Lutheran Social Service Financial Counseling is free and confidential. To get started, consumers can call LSS at 1.888.577.2227 or visit LSS at www.ConquerYourDebt.org