New Year's Financial Resolutions

So, you have resolved to lose weight or quit smoking in 2012.  Good for you.  Have you thought about making some financial New Year’s resolutions?  If not, here are some suggestions to help you get started:

1.     Spend less and save more.

2.     Increase your contributions to your 401(k), IRA or other retirement plan in 2012 (this will help you with number 1).  Here is a hint to help you…..contribute the two percent savings in the Social Security Tax for 2012 to your plan (you won’t miss it).

3.     Reduce or eliminate credit card debt.

4.     Write down your financial goals and refer to them often.

5.     Review your investments and re-balance if necessary.

Be sure to see how well you did next year at this time.  Give yourself a pat on the back if you succeeded in accomplishing all of them.  Don’t be too discouraged if you succeeded with more than half of them.  Start a new list for 2013 and include the ones you did not achieve from 2012.  If you failed at all of them seek professional help.  Enroll in a weight loss and/or smoking cessation clinic and meet with a financial advisor for a consultation.

One last thing, if you do not have a will, get one made.  You should not be caught dead without one.