Financial New Year's resolutions

According to a recent survey, 58 million people are planning to make a financial resolution this New Year's Eve. For most people, this resolution is probably to reduce their credit card debt (still precariously high at an average $8,400 per person). But some people may be making more creative financial resolutions for 2006. If you haven't set your resolution yet, think about one of these:

• Boost my credit scores - You'll get the best rates on insurance, credit, loans and more if your credit scores are above 700. You can improve your credit scores  by reducing your debts, removing negative inaccuracies from your credit report, maintaining a healthy balance of credit and loan accounts and avoiding unnecessary applications for credit. Credit.com has a very detailed series of articles online that show you exactly how to improve your credit scores.
  
• Refinance my auto loan - Still paying $300 a month for that super expensive new car you bought last year? Why not consider refinancing your auto loan in 2006? You may be able to reduce your payments and save a bundle. Especially if your first loan was at a high rate or you have improved your credit scores since then. Read a previous CreditBloggers post about auto refinancing here.
• Protect my identity - Identity theft is terrible crime. Protect yourself in 2006 by buying a shredder, installing virus protection on your computer and subscribing to a credit monitoring program. Just a few simple steps can help you dramatically reduce your risk. You can read more about identity theft here.
• Open an IRA account - Save for retirement and reduce your taxes by opening an IRA in 2006. Opening this investment account can seem complicated, but it's actually pretty simple. Start by reading The Motley Fool's guide to IRAs and then choose a trusted broker to open an account with.

What's your financial New Year's resolution? Send an email to emilyblog@credit.com or enter your resolution in the comments section below!