Berkeley College Office of Financial Literacy Advises on New Year Resolutions

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FOR IMMEDIATE RELEASE
TUESDAY, DECEMBER 16, 2014
Contact: Ilene Greenfield
Director of Media Relations
973-278-5400, ext. 1-5122
igl@BerkeleyCollege.edu
 
BERKELEY COLLEGE OFFICE OF FINANCIAL LITERACY ADVISES ON NEW YEAR RESOLUTIONS
 

The Berkeley College Office of Financial Literacy, led by Tom Kokis, Director, Student Financial Literacy, has important tips to setting and keeping your financial New Year resolutions.  Here are the top three Financial Resolutions for 2015 from this effective expert.

  • Set yourself a financial goal for the year.
    • How to: If you have a credit card or a student loan with a high balance, your goal should be to pay off that debt, or reduce it significantly, by the end of the year. To help you accomplish your goal, create a budget. Identify your monthly expenses and income. See where you can reduce your expenses. Use the money you save by assessing your budget to pay down your credit card or student loan debt.
  • Begin a retirement savings plan.
    • How to: Find out if your employer offers a 401k type retirement plan. Start making contributions into the plan. Your contributions are tax deferred, so you can lower your federal tax liability while saving for your retirement. Also find out what is the minimum contribution you need to make into the plan to receive any matching money from your employer. This is money your employer will contribute to your retirement account. It’s free money, so why not take advantage of it?
  • Review your credit report.
    • How to: You can receive a free credit report each year from the three major credit bureaus. Check to make sure your reports are free of errors that can lower your credit score. You also should review your report to make sure you’re not the victim of identity theft.

A leader in providing career-focused education for more than 80 years, Berkeley College is accredited by the Middle States Commission on Higher Education and enrolls approximately 8,000 students — including more than 900 international students — in its Baccalaureate and Associate degree and Certificate programs. The College has three New York locations — Midtown Manhattan, Brooklyn and White Plains. In New Jersey there are six locations — Woodland Park, Paramus, Woodbridge, Newark, Clifton and Dover. Berkeley College Online® also offers full degree programs. Programs are offered in more than 20 career fields. The website address is www.BerkeleyCollege.edu.

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