7 New Year's resolutions for your wallet

It's a new year; a time for new beginnings and, of course, New Year's resolutions. Here are seven quick and easy resolutions to fatten your wallet in 2009.

1. I will resist the double mocha extra-large latte.
You’ve heard this one before. But at upwards of $3.00 a pop, that daily latte habit is wreaking havoc on your wallet. If you want to improve your finances in the New Year, this is an easy place to start. Invest in a thermos and make your coffee at home, or consider downsizing.

2. I will fatten my wallet … by fattening my wallet.
A secret of savvy savers? Keeping receipts. It’ll add bulk to your wallet in the short term, but can mean serious savings in the long term. Resolve to keep your receipts and log your spending at the end of each day or week. You’ll see where your money is going and how quickly those little purchases (Ahem. Lattes?) add up.

3. I will go on a debt diet.
New Year’s resolutions are often about shedding pounds, but this year try shedding debt. 18% interest on a $1,000 credit card balance is nearly $200 a month! Start by choosing your account (likely plastic) with the highest interest rate and begin paying that off, then move to the next account, and repeat.

4. I will put some muscle into my savings account.
Think savings accounts are old news? Think again. Online high-yield savings accounts can get you returns above 5%. Beef up your returns by finding the best high-yield savings account for you.

5. I will get my credit report.
Another no brainer. Checking your credit report is simple, quick and free -- and can help id errors that can lower your credit score and keep you from getting the best terms on a loan. You’re entitled to a free credit report once a year from the three major credit bureaus. Take advantage at www.annualcreditreport.com.

6. I will not ignore my mortgage.
Your home is your castle, but it could be putting the squeeze on your wallet. If you have an adjustable rate mortgage (ARM) – watch out for that rate adjustment. If your new payments are keeping you up at night, refinancing to a fixed-rate mortgage may bring back the zzzz’s.

7. I will put more money in my 401K.
Two words: free money. If your employer offers a retirement savings plan, take full advantage of any and all matching funds. For example, if your company matches 50% up to 5%, it can be smart to invest at least 5%. If you’re not taking advantage of the full match, you’re turning down free money.