New Year's Financial Resolutions

• Stop spending more than you make. It's a simple, sure-fire way to stay out of debt.
  

• Pay down debt. List all debts by amount owed. Pay only the minimum required on all debts except the one with the lowest balance.  Pay as much as you can on the lowest balance until it is paid off.  Once the debt is paid off, use the extra cash to pay down the next lowest balance.  Some advisors suggest you start with the debt with the highest interest rate.  If you are someone who needs to see results in order to stay motivated, you should start with the lowest balance debt.
  

• Pay bills online, and on time. You'll save time and money, and eliminate late payment fees.
  

• Reduce monthly expenses. Review insurance contracts and call competitors for quotes. Cancel unnecessary add-ons to your phone bill. Check out energy.gov for more ways to cut utility usage.
  

• Automate savings. Transfer a set amount regularly and beef up that emergency fund.
  

• Take control of investments. Diversify your portfolio, contribute the maximum or as much as you can to your employer's company plan if you have one, start an Individual Retirement Account (IRA) or Roth IRA and fund it with equal monthly contributions; use several retirement calculators to figure out how much money you'll need in retirement.