Here are some refresher tips to keep you on track:

1. Get Organized – Take a look at income, investment, insurance, assets and debt.

2. Set and prioritize goals – You may not be able to simultaneously work on all of your financial resolutions, so try working in order of importance.

3. Create a budget – Begin by keeping track of all incoming and outgoing funds. Create spending categories such as food, entertainment, credit card payments and rent. You may want to cut back or eliminate certain purchases if your debts exceed more than 40% of your incomes.

4. Start saving – A pay increase or tax refund are opportunities to contribute to your emergency or retirement funds. You may be able to reduce bills such as cell phone and cable. Attempt to set aside one day each week where you don’t spend any money, and instead put that money into a savings account.

5. Pay down debt – Stop using a credit card unless you know you can pay it off fully before the end of the billing cycle. Also, talk to your banks about reducing interest rates. Do you have items you no longer need? How about having a garage sale, or posting an ad on Kijiji. There are many websites where you can sell what you’re not using. This can help generate some extra money to pay off debt.

Submitted by: Shelley Bertram Fallis: Toll-free: 1.866.657.3882, Local: 705.657.3882 or 705.742.6463