As we look to a new year, you may be thinking about your New Year's Resolutions. Maybe you have already made promises to yourself or family about doing things better than last year. If you have made resolutions to make better decisions financially, you're in good company.

    The way that you handle your money has a huge impact on your life and can have a lasting effect on your family as well. But many are not planning for their financial future. You may need help in navigating your financial life. After all, it can be a challenging journey. You are not alone if you are unsure where to start or what your next move should be.

    Nearly a third of adults admit their lack of knowledge has led to poor financial decisions, according to a Harris Interactive survey. About 19 percent of Americans spend more money than they earn and approximately more than a third are just breaking even, leaving little or no money for savings. Only 41 percent of the 25,000 people surveyed said they spend less than their income.

    Making matters worse, many people lack a cushion against the unexpected. More than half do not have an emergency fund. In the U.S., 56 percent of individuals lack a rainy day fund to cover expenses for three months in case of sickness, job loss or other emergencies, according to a FINRA study. Without such a fund, many people lack adequate protection against financial emergencies that threaten their financial stability.

    Although you can't predict the future, you can protect yourself by making smart decisions about your money. When it comes to dollars and cents, just as with diet and exercise, the chances of coming up with a strategy and goals that you'll actually stick to increase significantly when you take time to manage, grow, and protect your money.

    As the new year begins to take shape, know that whatever your financial plans are, Wasatch Peaks is here to assist you. We wish you and your family a joyful, bright, healthy, and prosperous new year!

    Wasatch Peaks

    Written by Wasatch Peaks