Strive to pay off lingering debt and get your finances in order in 2016.
A new year is approaching, and with it comes the desire to do better. We make New Year's resolutionsfor all aspects of our life, and our money should be part of that.
If you're spending too much and saving too little, or if you don't even know where your money is going, this is a good time to give yourself a financial checkup. Even if you're doing well financially, you should take a look at your savings, your spending and your processes to see what can be improved.
"That's a good place to start the year, the 'Where am I?' question," says Mari Adam, a financial planner in Boca Raton, Florida.
Do you have life insurance, disability insurance, health insurance and a college fund for your kids? Are you paying off your student loans? Is your portfolio allocated the way it should be for today's market? Are you making enough money to cover your living expenses? All of those are questions you should ask as part of your year-end financial inventory.
Teresa Mears | U.S. News