TYLER, TX (KLTV) - 2010 is finally here, and a new year brings lots of resolutions. If you're still thinking about your goals, there is something everyone can afford to do: fix your finances.
"I'd like to have a better financial year," said Jerry Jones, a Tyler resident.
"[I want to] get all my bills paid off...my finances caught up," said Krystie McGowan, a San Antonio resident.
"[I want to be] debt free in 2010," said Mary Ann Jones, a Tyler resident.
It is a resolution heard nation-wide, and financial advisors like Joy Adams, with Adams Financial Group, say there are things you can do to control your personal money.
"January is a great time to start doing them," said Adams.
At the beginning of the year, take a few minutes to set up automatic deductions from your paycheck into a savings account, or increase your 401 (k) contribution.
"Anytime that you have something coming out of your check automatically, it never gets to you, so you don't spend it," said Adams.
Another important note: evaluate your current investments.
"What's happened in your...last 12 months that need to be adjusted?" said Adams.
She says do not stop there. When summer rolls around, it is time for a mid-year check up. Make sure your investment goals are on track. Evaluate your estate. Is it set up to go where you want it? And, review your beneficiary designation.
"A lot of times, people forget who they name as beneficiaries," said Adams. "And a lot of things like retirement plans [and] life insurance policy go by beneficiaries, not by will."
And, when the 2010 comes to an end, Adams says to finish everything up. Check your required minimum distributions, check to see if you have done any charitable contributions and tame those monthly bills.
"Take like two months of your checkbook or take your bank statement and go back and see where you spent your money," said Adams. "Maybe it is your cell phone bill. Maybe you are eating out excessively."
So when the calendar turns to 2011, you can focus your resolution on something new.