“This is the year!” Buffalo Bills fans say it every year during training camp. And it’s a common phrase heard by resolutionists who believe that this year will be better. A recent study done bycouponcabin.com found that over 52% of U.S. adults are optimistic that 2013 will be a better financially than past years.

The survey also found that about 4 out of 10 U.S. adults plan to revamp their finances in 2013. Those looking to revamp should pay close attention to the survey done by Allianz on the ten WORST financial habits.

10) 4% mentioned that they were not contributing to their employer sponsored retirement plan (i.e. 401(k), 403(b), etc…). Solution: Start contributing as soon as possible with any amount available. Remember that a snowball needs a good sized hill to go down to be able to get bigger. The sooner you start, the better chance you have of your “retirement snowball” being bigger!

9) 8% have not pursued professional financial help planning retirement. Solution: Look for a qualified professional to help. Those who do not seek professional help leave themselves open to rash and emotional financial mistakes. It is like trying to perform surgery on ones self. Few people have the time and resources to become an expert in finances. Remember that the school of hard knocks has a high tuition cost.

8) 8% are only making the minimum payment on credit cards. Solution: Saturday Night Live had a great skit on this topic. Check it out at http://www.hulu.com/#!watch/1389.

7) 10% can not resist gambling. Solution: Addictions can be very hard to break. While most in Utah Valley may not suffer from gambling addiction, many do suffer from the shopping addiction. Both can have a huge effect on your happiness and financial stability. It can also hurt the ones you love the most. If the habit is too strong to break on your own, seek professional help.

6) 12% are not educating themselves about retirement finances. Solution: There is a saying of an apple a day will keep the doctor away. Reading a financial article a day will help to improve your financial IQ and confidence about finances.

5) 13% spend more money than they make. Solution: The big “B” word is the best tool for this problem. That nasty word is budget. In today’s world there are so many great technology tools to help create budgets and track expenses. Many have little to no costs associated with them and can text/e-mail you as you get close to going over on your budget.

4) 15% do not have a budget. Solution: The solution is the same for the item 5. Many banks and credit unions now offer this technology for free. Call and ask them what tools they have available to help you.

3) 20% are saving money, but not as much as they could. Solution: As a general rule of thumb, one should have about 3-6 months worth of income saved up in a safe and liquid account. Once this goal is met, take the monthly saving and start contributing more to your retirement accounts.

2) 20% I spend too much money on things that I don’t need. Solution: Hopefully the point was made in number 8, but if not, here is the link to watch it again http://www.hulu.com/#!watch/1389.

1) 23% stated that they are not saving any money. Solution: Look at your current withholding from your paychecks. If you receive a refund, it means that you are withholding too much. Look to have less withheld and put that money toward a savings account/rainy day fund. The IRS has a withholding calculator that can be used to calculate your excess withholding at http://www.irs.gov/Individuals/IRS-Withholding-Calculator.

What is the key to being able to break these habits and make 2013 a great year financially? Heidi Beckman, a psychologist at the University of Wisconsin and a speaker on financial behavior said “Braking habits successfully depends on your readiness to act.” Ms. Beckman recommends using a daily three step approach.

1) Create a positive picture in your mind of the result you want and act as if the bad habit was gone.

2) Identify and focus on your positive financial habits as proof you can do the right things.

3) Create simple rules to fall back on when tempted.

John Ulzheimer of smartcredit.com put it well when he said “if it was easy, we’d all have big savings accounts and none of use would have credit card debt.”

Robert E. Shelton is an American Fork City councilman and financial advisor at cb Financial Advisors. Advisory services offered through BFC Planning, Inc. (BFCP). Registered Representative of and securities offered through Berthel Fisher & Company Financial Services, Inc. (BFCFS). Member FINRA/SIPC. BFCP, BFCFS and cb Financial Advisors are not affiliated.