• When it comes to making New Year's resolutions, getting into good shape financially ranks right up there with losing weight and eating healthier. All three goals require discipline and planning; and, as you've no doubt experienced, it's not unusual to encounter setbacks along the way.
• Don't let losing a minor battle here or there convince you to surrender on the bigger war. You'll probably have more success if you start out taking small steps, learning from your mistakes and gaining momentum as you go.
• Here are a few suggestions for better managing your personal finances in the New Year:
• The first step on the road to financial health is to create a budget you can live with. If you're new to budgeting or haven't been successful in the past, start slowly. For a few months write down every cent you spend: mortgage/rent, utilities, food, gas, medical copayments, credit card interest - the works. You'll be surprised where you money goes.
• At the same time, compare money coming in (income) to money going out (expenses). If you're just breaking even or losing money each month, you need to boost your income and/or aggressively trim spending. Try these strategies:
• • Pay bills on time and send at least the minimum amount due. You'll avoid late fees and related interest rate increases; plus, you'll improve your credit score.
• • Balance your checking account regularly and use in-network ATMs to avoid overdrafts and fees.
• • If your employer offers flexible spending accounts, use them to pay health and dependent care expenses with pretax dollars.
• • Raise insurance deductibles and shop around for better rates.
• Once you start reducing expenses, use the savings to pay down debts more quickly. Try making a table of all outstanding credit card and loan balances and their corresponding interest rates. Then, each month pay the minimum amount due on

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