January is the traditional time for many to make resolutions. Whether those resolutions are formally written down, shared with friends, or kept private, a few timely financial promises to oneself could pay big dividends in the coming year.

These financial resolutions do not have to be complicated or elaborate. Sometimes the best financial solutions are also the simplest. Here are ten great financial resolutions that may bring a brighter future in 2023 and beyond.

1. Increase retirement plan contributions by 1% (or more). Almost everyone will want to retire someday, so vow to make those later years more financially comfortable. Raising retirement contributions by 1% in the year to come is a good starting point. Of course, it can always be increased as the year progresses, but starting with 1% is an easy thing to do.

2. Add $10 (or more if possible) to emergency savings each paycheck. Sometimes the smallest goals may be the easiest to reach, so vow to set aside $10 from every paycheck. Automate the process by using direct deposit to a savings account or move the funds manually each month.

3. Choose one bill a month and negotiate it down. The ability to negotiate with a cable company, internet service provider, the phone company, and more may improve your finances in the coming year. Choose one bill a month, pick up the phone and negotiate to get fees and rates reduced.

4. Fine-tune or create a budget. Hopefully, a budget is already in place. If not, now is the time to create one. If a budget exists, make a resolution to fine-tune it even further. Make adjustments that create a higher level of control over expenses and income. Download our Quick Start Budget worksheet today.

5. Improve job skills. A great way to improve finances for the coming year is to strengthen one’s earning power. Take a class, enroll in community college, attend a seminar, and do other things that will help to earn more money. Better job qualifications may result in additional promotions.

6. Interview a new financial planner. There is nothing wrong with shopping around, even if a current financial planner is providing good service. Getting a second opinion from another financial planner is one smart way to see the options available.

7. Review all insurance coverage. Insurance is not a set-it and forget-it kind of thing, and an annual review should be on everyone’s to-do list. Making sure the proper insurance coverage is in place should be part of the review process. Removing unnecessary coverage may result in monthly savings that can be used elsewhere.

8. Set up an estate plan. Make this the year to finally set up an estate plan. Having an estate plan in place is one of the best things someone can do for loved ones. It’s a smart way to provide financial protection for family members.

9. Invest in good health. Last but not least, make the promise to focus on good health and well-being throughout the year. Exercising more, eating right, and taking care of oneself should always be a priority.

Making resolutions is a common activity this time of year. As the calendar rolls over and the old year gives way to the new, people everywhere will be looking for ways to improve their lives, and that includes their finances. The ten resolutions outlined above may be a way to enjoy a better today and a better future.