Salary Calculator
Hourly Calculator
W4 Calculator
Gross Up Calculator
Bonus Pay Percent
Bonus Pay Aggregate
401(k) Calculator
Dual Scenario Salary
Dual Scenario Hourly
More Calculators
Next Release
Jan 06, 2011

Scottsdale, AZ (January 6, 2011). Many of us make New Year's Resolutions. We tend to see the beginning of a new year as a good place to begin new changes we would like to incorporate into our daily life. For the vast majority of Americans, resolutions tend to be of two types, weight loss or financial gain. While weight loss may help you look and feel great, and is certainly an excellent choice for promoting a long, healthy life, it is your financial health that is the real key to providing stability and comfort for that long healthy life - right into retirement. So what are some financial resolutions you may want to implement in the new year? Here are a few suggestions from Update your savings and reduce your debt-

  • Set new savings goals. To help you reach your goal, be sure to transfer amounts earmarked for savings  from your checking account to a separate savings account that is not easily accessed, making it less tempting for you to spend the money that you have managed to save.
  • Review your W-4. Have there been any major life changes recently? A new baby, buying or selling a home, a change in marital status - all result in a need to adjust your W-4. By using the free, easy to use calculators at, you will be able to assess different scenarios to figure out what works best for you. The result could be more money in your pocket each payday to put towards savings or debt reduction.
  • If possible, pay extra principal toward your mortgage payments each month. You'll cut down on the number of years it will take to pay off your mortgage and earns a risk-free return on that money equal to your mortgage interest rate.
  • Reduce credit card debt as much as possible. If you owe money on your credit cards, determine how much you can realistically afford to pay off during the year. In addition, try not to charge new purchases on those cards while you're trying to pay down what you owe. If you have high interest credit card balances, consider whether it would be more beneficial to pay off those high interest debts or to add to your savings.
Boost your retirement
  • Review your retirement plan and consider a set contribution each month. In addition, ask your employer to withhold enough through salary deferrals to ensure that you reach the maximum limit each year. If you're 50 or older by December 31, increase your contribution for the additional "catch-up contributions" you're allowed to make. Be sure to save only amounts that you can realistically afford.
  • Self-employed? If so, depending on your income, you can contribute to an SEP IRA, profit-sharing plan or solo 401(k) plan. If you'll be 50 or older by December 31, the contribution limit jumps for a solo 401(k), helping you save even more.
  • Don't Forget About IRAs. Even if you're covered under a retirement plan at work, you can contribute to a Traditional IRA or Roth IRA. Keep in mind, however, that there are limitations to these contributions depending on income.
Additional helpful resolutions-
  • Review and adjust your investment portfolio. Things change each year, and by doing this you take steps to optimize your portfolio based on the most current trends.
  • Review your credit report and repair any negative items. Be careful to spot errors since they are not uncommon. Everyone is entitled to three free credit reports each year. This is extremely important since a poor credit rating could result in paying higher interest rates on loans, reducing disposable income.
  • Review life insurance and disability insurance needs. Give some thought to how much protection you need, make adjustments if necessary, and give some thought to whether your needs would be better satisfied by term or permanent life insurance. Also, review your disability insurance coverage to determine whether you have enough coverage.
Be cautious about setting too many or unrealistic financial goals. Restate your financial resolutions simply and clearly for the new year. Consider meeting with a financial advisor to discuss your goals, they can be very helpful in navigating the choppy waters of personal finance.

About Symmetry Software
Founded in 1984, Symmetry Software is a groundbreaking innovator in tax applications for the internet and corporate intranets. At its core, Symmetry is a software development firm with a high level of expertise in payroll withholding taxes. Our team of software engineers and taxation experts provide leading edge, regulatory compliant payroll software products.  For more information please visit us at

What You Missed
The Wow Factor of NBA Salaries
Want To Save Money? Try These Apps
Things You Should Not Be Doing When Broke
How To Pay The IRS
Eighty-Two Million Americans Have Experienced an Error in Pay
Four New States Set To Increase Minimum Wage
Massachusetts Employers Can No Longer Ask About Your Past Salaries
How Many W-4 Allowances Should You Claim?
How Often Will You Pay Your Employees?
How Much of Your Bonus Will You Take Home?
Company Information
About Us
Press Room
Help Center
Follow Us
1999- Symmetry Software, All Rights Reserved