Now that 2008 is coming to a close we are faced with looking back on a less than stellar year. The miserable economy hogged the spotlight all year and, as of right now, 2009 does not promise to be any better.

We’re betting that working on your finances will top losing weight as the Number One resolution for 2009. Here are some tips for making and keeping your 2009 Financial New Year’s Resolutions:

1.    Start small. Don’t make a resolution to save $10,000 dollars if you didn’t even save $1,000 the year before. Start by trying to save an extra $100 or $200 a month and go from there.
2.   Create a budget, the more detailed the better. How can you know how much you are saving if you don’t even know how much you spend? Break down your expenses—and be honest. If you know you are going to spend $6 on coffee a day, include that.
3.    Get out of debt. If you can’t get out of all of your debt this year at least bring it down and DO NOT add to it! Debt is a huge stressor. It limits everything. Live by this simple rule: if you don’t have it, don’t spend it.
4.    Pay in cash. If you know you are going to have to fix your roof or buy a new dishwasher, start setting money aside and pay for that purchase in cash. This will stop you from using a credit card and adding to your debt (or making new debt as the case may be).
5.    Start an emergency fund. If you have a job right now, count your blessings. The unemployment rate is out of control and I’m betting there is not one person who is unemployed who doesn’t wish they had saved more money. The ideal emergency fund will cover your living expenses for three to six months. If you can’t put that much aside then start small. Put aside $100 from each paycheck. Your emergency fund will start to grow before you know it.
6.    Make a long-term savings plan. You might not be able to start this plan now (getting out of debt should come first). But it doesn’t hurt to start planning. Someday we will all have to retire. I know a lot of people lost their retirement savings in the Stock Market this year but if you invest wisely and you diversify and allocate you should be okay. At the very least, start a high-interest bank account for your long-term goals.

Have you made any New Year’s resolutions about saving money? What tips do you have for people to do better financially this year?