If your New Year's resolution for 2011 is to get your financial life in order ... you're in luck. The next 12 months can be a year of savings and good economic health, thanks to some tips compiled from the National Foundation for Credit Counseling.Keep an eye on spending
It's easy to overspend, especially when using a debit card or credit card. If expenditures aren't tracked along the way, it's easy to go way over budget. Write down every cent spent for 30 days straight or use an online money-tracking service like Mint.com. This will make it easy to tell where the money is going, and where spending can be cut.
Pay off your debt
Striving to live below your means is important, especially if there's debt to be paid. Adjustments will have to be made in order to live a life that is realistic given a certain income. Otherwise, you are headed down the hole of future financial trouble.Avoid avoidance
Don't avoid or ignore financial problems. Deal with them immediately! The sooner the financial problems are dealt with, the sooner good financial health will come in the future. Reach out for help, or talk to a counselor the first sign of financial trouble.Talk with the family
Keep your decisions regarding money all in the family and your likelihood of success will increase dramatically.Always have savings
If a credit card is the only form of savings when a financial emergency strikes, the chances are the bill will not be able to be paid back. Add to a savings account monthly... even if it's only $20. The savings will add up, and the credit-card debt won't.Make a strict budget
Keep your budget tight. By allocating an amount of money to each spending category, you will spend money to your best advantage.Set a financial goal
Plan ahead ... not just for the next day. Setting short and long term goals are important in defining an end result, and clearing a path in order to get there.
