Four Personal Finance Resolutions for the New Year

Make some personal finance promises that you can actually keep in the New Year.

Lose weight. Stop smoking. Learn Jiu-Jitsu. Making a pie-in-the-sky New Year's resolution feels great for about 10 minutes. Then you figure out that these goals were a stretch too far, and you settle down on the couch with a pint of Cherry Garcia and your old friend, Joe Camel. See ya next year, Sensei!

It doesn't have to be that way. Some promises can put more money in your pocket every day, and who wouldn't feel motivated by cold, hard cash incentives like that? Here are a selection of resolutions that can put more money in your pocket.

1. Commit to a realistic budget
Sit down with your family and figure out where your money is going every month. Add up the non-negotiable bills, like car payments, mortgage payments, the kids' college or kindergarten tuition, or the electric bill. Then, for the next 30 days, calculate the variable costs, like food and clothing, gasoline, video rentals, and orange mocha frappuccinos. (You get the idea.)The grand total absolutely, positively cannot exceed the family's combined paychecks. If it does, make cuts in your variable costs, or plan to increase your income. Replace the latte with home-brewed coffee. Turn the light off when you leave the room. Wash the neighbor's car for extra cash.Write the whole budget down, item-by-item-and stick to it. You can have fun discovering where your cash ends up, but it's no fun getting caught under an ever-heavier debt load.

2. Hide your credit cards
Do you use plastic responsibly? If you're paying off your entire credit card balance every month and taking advantage of cash-back or reward points offers, you're good. If not, you're better off paying cash, or using a debt card, whenever possible. Those finance charges add up very quickly, not to mention late fees.

3. Save and invest
This resolution puts today's money in your pocket tomorrow-with compounded interest. Set aside three to six months' worth of living expenses in a high-interest savings account or short-term CD-you just never know when that rainy day comes around. Max out your 401(k) or IRA contributions, and earn tax-free interest until the day you retire. Invest in the stock market, or buy some gold. You won't miss that money today, knowing that it's hard at work growing for tomorrow.

4. Live it up
Okay, this is not a financial commitment, at all. But you deserve to enjoy life. The best finances in the world can't make you happy unless you take some time for yourself once in a while. Think about last year and the purchases that made you unhappy-then resolve not to repeat the same mistakes. Find the highlights of last year, and make more of them in the next.