The start of a New Year provides an opportunity to make a fresh start and form new, positive, habits. This year, making and keeping financial resolutions is a step in the direction of financial wellness. Take the time to figure out your short and long-term financial goals and by setting specific and actionable resolutions, these goals will be more achievable.

First, resolve to create a budget to determine much money is coming in and how much you are spending a month. If expenses are larger than income, look at spending habits and see where you can make changes.

Next, resolve to increase contributions to your employer-sponsored 401(k), even if it’s just 1 percent more. After a number of years, the power of compounding will work to your advantage and add up to a larger nest egg when it comes time to retire. If you’re maxing out your 401(k) contributions, consider opening an IRA. Retirees never look back and wish they would have saved less for their golden years…

If you haven’t taken a look at financial documents recently, the New Year is a good time to review estate plans and other financial paperwork and make sure all your documents are properly aligned. Make sure your beneficiaries are up to date and the appropriate signatures are in place.

Each year people resolve to make improvements to their lives and making a few improvements in your financial life will provide you piece of mind and allow you to dedicate time to what is most important to you.