Happy New Year! While New Year’s Eve is the traditional time to make resolutions, many of us were so busy with the holidays that we skipped them altogether. But it’s never too late to think about financial resolutions; use the month of January to spend some time with your finances, and make your own list of financial resolutions. You may find that even small changes can reap big rewards over time.

Here are a few resolutions I’ve been discussing with my clients;

Create a Budget and Stick to it 

You probably already know what you spend on recurring expenses like mortgages, car payment and cable. You may even have a good handle on less predictable requirements like food and gas. But are you tracking more optional expenses, like eating out, pricy grooming appointments, movies, vacations or weekend trips? For many households, splurges like these make it hard to contribute to savings and retirement funds. Spend time this month to make sure that you’re spending money in ways that serve your long-term financial goals.

Double Check Your Asset Allocation

If you’ve invested in the stock market, through mutual funds, IRAs, 401k or other investment vehicles, it may be time to review your portfolio. If you haven’t evaluated your asset allocation in the last 24 months, now is the time to do it. National and world markets have undergone some dramatic changes. As you review your asset allocations, be sure your risk levels are aligned with your investment goals. A smart financial advisor can help you adjust your plans.

Think About Increasing Your Investments

Some people believe you must pay off all your non-mortgage debt before investing. If you’re on a shoe-string budget, that’s good advice. However, if you’re traveling on vacations or spending nights out in nice restaurants, you may want to rethink that strategy. Paying off mortgages can take decades. By that time, it may be too late to reap the benefits of long-term investing, particularly if your employer matches your investment contributions at any level.

Reconsider Life Insurance

It’s easy to put off life insurance, but if somebody relies on your income to survive, you need it. Hate spending the extra money? Stick with term life insurance - it’s a more affordable way to ensure a larger death benefit. I always make it part of my client’s financial plan.

If You’re not Automating Your Finances, Now is the Time to Start

Some of us are still mailing checks, and in 2017, this simply isn’t necessary. If you haven’t started using your financial institutions online banking services to pay bills, transfer funds and track spending, this is the time to start. Automating your finances is an easy way to ensure you don’t miss payments. It adds discipline to your bill paying. It allows you to save first when you automate 401k, IRA, and savings deposits. And best of all, it saves time and money…way less check reorders and no more stamps!

Everyone is Different, and Financial Advice is a not a “One-size-fits-all” Business

Consider this checklist as a starting point to make your financial life easier, less stressful and more productive. And of course, I’d like to hear from you in 2017. Let’s all make this year the best one yet.

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Mark A. Vergenes is President of MIRUS Financial Partners, 110 E. King St., Lancaster, PA; 717-509-4521 or mark@mirusfinancialpartners.com  Investment Advisor Representative offering securities and advisory services through Cetera Advisor Networks LLC., member FINRA/SIPC. Cetera is under separate ownership from any other named entity.  MIRUS Financial Partners nor Cetera Advisor Networks LLC. give tax or legal advice.