Finances top resolutions list.

• Position: New Year's

With the economy in a desperate downturn, many individuals are vowing--out of necessity--to make financial changes a big part of their New Year's resolutions list. Affinity Card Systems, Vancouver, Wash., offers some suggestions in that area:

* Take control of finances. The average credit card-carrying household has more than $8,000 in credit-card debt. At a typical 17% interest rate, that means paying about $1,400 a year in interest.

* Reduce exposure to identity theft. A General Accounting Office report estimates that as many as 750,000 Americans are victims of identity theft every year, and that number may be low, as many people choose not to report the crime or, for that matter, even know they have been victimized.

* Set aside a percentage of every paycheck for savings. The current personal savings rate for Americans is at its lowest point since the Great Depression of the 1930s.

* Balance checkbook monthly. Banks are assessing penalty fees when their own electronic system allows consumers to make purchases with their debit or ATM card, even though the account holder does not have the funds to back up the purchases. Overdraft fees often result in consumers being charged as much as 1,000% interest. A $22.50 fee for an $80 overdraft translates into a 1,467% annual percentage rate if the consumer reconciles the overdraft in a week's time.

* Pay extra on outstanding loans. A study by the National Center for Education Statistics shows that about 50% of recent college graduates have student loans, with an average student loan debt of $10,000. Meanwhile, the...