Now is the Time to Get Your Financial House in Order

So you want to get your financial house in order and go into 2013 wealthier than perhaps you were going into 2012. We hear that, so we went out and sought some answers.

Paul Ellner, the Executive Vice President Retail Director of Massachusetts from shared his thoughts.

"The first of the year is a terrific time to start fresh," Ellner said. "This is a great time to start to change your patterns and save."

Ellner has a simple and easy checklist that will bring you closer to your financial goals.

1. Make your goals concrete by writing them down.

"There is something powerful about committing goals to paper so they are more than a dream," Ellner said. "Set a specific goal for savings. Start with a little and work your way to more."

2. Build a budget to control your spending.

"This seems like a duh statement," Ellner said. "Find a small but recurring expense, like your morning coffee, and start budgeting that."

3. Pay yourself first.

"We find the most successful savers are those who have automatic deductions taken from their pay," Ellner said.

4. Now is the time to eliminate and reduce debt.

"You can do this by consolidating credit cards to a lower interest rate and paying off the balance as soon as possible."

5. Prepare for and evaluate your retirement savings

Ellner strongly recommends that everyone be in a 401K, particularly if the company matches some portion of contributions.

"Othewise you are throwing away free money," he said.

6. Do an annual credit check.

Ellner strongly recommends that everyone do an annual check of their credit report. You can get a free report at annualcreditreport.com, according to Ellner.

7. Ask a professional for help.

"Across lthe board, whether you are just starting out or going into retirement, there are people willing to help, and the initial consultation is generally free."

has made it especially easy to save.

"We offer a gold track savings," Ellner said. "This program gives bonuses to folks who reach their savings goals." We give gift cards to local retailers based on the amount the person saved. Cards can be for as much as $250."

Citizens Bank also rewards those saving for college.

"If you open a college saver prior to your child's twelfth birthday and you make your savings commitment each month, we will give you a $1,000 bonus with interest when the child turns 18."

Have you tried these tips? Tell us about it in the comments.