Photograph by Grant Faint
Set a 2012 Budget
Look at your spending over the past year and decide if you need to adjust your budget for next year, recommends Shomari Hearn of Palisades Hudson Financial Group. While it's important not to be too rigid, you might find places where you can cut, he says. Joanne Woiteshek of Interactive Financial Advisors encourages saving by asking her clients to set specific goals -- vacations or gifts, for example -- and automatically transfer cash out of checking accounts into dedicated savings accounts before it's spent.