New Year New You: 7 Ways to spend smarter in the new year

DENVER -- As the nation prepares to start the new year off right, many set resolutions in the hopes of having a more productive lifestyle. Some try to eat healthier or quit smoking, but one of the most common goals of the New Year is the desire to manage money more effectively.

In the goal of managing money, credit and accounts well, some turn to the advice of financial professionals. Westerra Credit Union shared with us their tips to help you spend smarter this new year.

1.     Set a budget

Creating a limit for yourself is a great first step to prevent unnecessary spending. Have a list of your monthly income followed by your expenses. Whether you decide to eat out less or have fewer shopping days, you will be able to determine what is and what is not worth spending.

2.     Pay yourself first

Every time you pay your bills, pay yourself first. Set aside a small amount every month in a savings account. Pick an amount that works for you and it can add up more quickly than you realize over time.

3.     Transfer credit card balances to a lower rate card

Pay attention to the interest rate and fees you are paying on your credit cards. There is a chance you can save a significant amount of money every month by transferring the balance to a lower rate card. Make sure do this with a card that does not have a balance transfer fee.

4.     Don’t pay fees for a “free” checking account

Is your checking account free? Look at your monthly statement to see what fees you may be paying. Many people think they have “free checking” but they are actually paying fees for the account and access to it.

5.     Join a credit union

Being a part of credit union will allow you to save through lower rates and better fees. Everyone who lives or works in the 7-county Denver metro area can join Westerra Credit Union.

6.     Choose a card with a rewards program

If you pay off your credit balance every month, having a card Visa Signature will have cash back, travel benefits, gift cards, merchandise and other benefits. When it comes to debit cards, some credit unions provide reward points for purchases, like credit card rewards.

7.     Keep your money in Colorado

Having accounts in a local credit union will not just benefit you, but also your local community. When choosing your credit union, ask about the fees, rates and deals that are offered.


You can learn more about finance, health, wellness and other resolutions you may have at our New Year New You Expo. Colorado’s largest new year’s resolution event is an opportunity for the public to explore their options as they pursue their 2017 goals.

This is also a chance for you to meet anchors and reporters from Denver7. The free event is Jan. 28 from 10:00 a.m. to 4:00 p.m. Click here to learn more about New Year New You Expo.

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