While many Georgia consumers plan to start 2017 off with a household budget, sticking to that budget may pose a problem. Data from a 2016 End-of-Year Consumer Survey by Georgia Credit Union Affiliates reveals 78 percent of respondents plan to start the new year off with a household budget, but 35 percent of those respondents said they need a lot of improvement when it comes to sticking to a budget.
 
Fifty-nine percent of respondents to the GCUA survey said they are looking forward to a milestone event in 2017 - such as a wedding, the birth of a baby or a vacation - that requires budgeting.
 
Managing money is often a top New Years' resolution for Americans. According to the 2016 Brain Research Institute, 34 percent of Americans make money-related resolutions at the beginning of a new year. Unfortunately, only 46 percent of people who make a resolution maintain it longer than six months and only 8 percent achieve their goals.
 
According to the national Foundation for Credit Counseling's 2016 Consumer Financial Literacy Survey, only 40 percent of U.S. adults said they have a budget and keep close track of their spending. So, what can consumers do to get on the right financial path this year? Pinnacle Credit Union Branch Operations Manager Amanda Boring says the first step to getting finances in order is realizing how much money is being spent.
 
Insider's Perspective:

"Take a week or a month and save every receipt," Boring said. "Add it up and then look at your income. After doing this, ask yourself if you're saving any money, how much you want to save and what purchases maybe weren't necessary."
 
Boring said budgets can be difficult, but there are ways to trick yourself into staying on track.
 
"Try only putting the budgeted amount you want to spend each month into your checking account and then leave the rest in a savings account," Boring explained. "Holiday accounts or Vacation accounts are another great way to save. These accounts only allow a certain amount of withdrawals each year."

Budgeting Tips:

Save receipts - Save your receipts for a month to track what you're spending money on and then compare your expenses to your income.

Put the bare minimum in checking - Only put a budgeted amount of money into a checking account for spending each month and put the rest into a savings account. Making money less accessible can help you spend less.

Get a special savings account - Open a Holiday or Vacation account at a local credit union. These types of accounts only allow a certain number of withdrawals each year without being penalized monetarily.

Get a budgeting app - Download an app to your smartphone or tablet to help with budgeting. Many financial apps include budgeting platforms, monthly account monitoring and tips for getting out of debt. Check with your financial institution to see if it offers an app, the Apple Store if you have an iPhone or iPad, or Google Play if you own an Android.