SLADE COLUMN: Get your financial house in order

The arrival of a new year is an opportunity to set goals and lay down markers for self-improvement, particularly when it comes to personal finance.

It's easy to make New Year's resolutions, and harder to keep them, but making them is a good start.

Here are some suggestions:

--The financial to-do list: Maybe you never got around to comparison-shopping for more affordable home, life or car insurance in 2011. Maybe you're still paying more than you need to for phone, cable or Internet service. Perhaps you haven't mailed in a refund offer or returned a broken product that's under warranty.

Well, make a list and start crossing things off. Examine things you pay for each month, make sure you're not paying for services you don't need and see that you're getting the best deal available. I saved more than $300 in 2011 by changing my home phone plan.

--Save now and budget ahead: Over the next year, we all may face some financial surprises, but there also will be events that can be anticipated. If you're expecting extra income, such as a tax refund, decide ahead of time what you'll do with the money. And if you know you'll face some big bills, such as college tuition or a set of new tires, plan ahead.

Wouldn't it be nice to do your 2012 holiday shopping with money you saved during the year? Set aside some cash every month, maybe in a "Christmas club" account at your bank or credit union, and your holiday budget for gifts becomes the amount you've already saved.

--Mend your safety net: If you don't have an emergency fund for unanticipated costs or calamity, try and build one, even if you can set aside only a little each month. It can be very hard to save, but scrimping now beats taking on high-interest debt if you face unexpected bills or job loss. If you're already carrying high-interest debt, focus on paying that off before you do anything else.

And if you haven't reviewed your credit report in the past year, do it now. It's free online from annualcreditreport.com or by calling 877-322-8228. If your credit is in poor condition, work on repairing it because good credit is a basic building block of financial security.

--Keep good records: If your bills and receipts are a disorganized mess, it will be harder to keep track of your spending patterns and find information when you need it, such as during tax preparation time. Now's your chance to get a system going for 2012.

I'll confess that most of my 2011 bills are in a shoe box waiting to be sorted and filed, and I resolve to do better this year.

--Visit your miles and points: If you have frequent-flier accounts, hotel loyalty programs and credit cards that give you cash-back rewards, have you checked those accounts lately?

Some airlines will zero out your frequent flier miles if there's no account activity. And some credit cards will give you cash-back awards only when you request them. If you've lost track, look those accounts up and make a handy list of balances and expiration dates.

--Examine annual fees: What do you pay annual fees for, and are they worth paying? You might have a service contract on your home heating and ventilation system, an auto club membership, access to a club or gym, Netflix or whatever. Sometimes we renew out of habit.

This is a good time to see if you can get a better deal for the services you need, and weed out the services you don't need.

Here's to a happy and healthy new year, and success in keeping the promises that we make to ourselves and others.

Reach David Slade at 937-5552. On Facebook: David Slade - Post and Courier. On Twitter: @DSladeNews.