At year's end we often find ourselves faced with good intentions that just never happened. Something we wanted to do, but never got around to it. The Illinois CPA Society suggests it's not too late. Make the financial move you planned on making in 2010 your New Year's resolution for 2011. Check this short list from the Society for things you might want to do in the year ahead:
- Find a way to save. Could you take the $50 you just spent on that sweater and save it instead? Cut back on downloads or dining out? Look at what you spent this year for ideas.
- Set a reachable goal. Whether it's getting out of debt or buying a home, plan to accomplish something with your money in 2011. Put away a small amount each month towards your goal.
- Start a rainy day fund. Prepare for a layoff or health emergency by working towards having three to six months worth of living expenses socked away.
- Make a will. Not pleasant to think about, but you want to make things easier on your family and protect your assets. State rules may apply if you don't have a will. And who would have custody of your children?
- Check your credit report. You've been meaning to check it, but perhaps afraid to look. Use it as a starting point to get your credit in good shape. Go to www.annualcreditreport.com for a free report.
- Take steps toward retirement. Begin to contribute to your 401K plan at work - at least enough to get the match if one's available. If you're already contributing, consider an increase of 1 or 2 percent.
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