9 Ways to Overhaul Your Finances This Year ...

One of the first things to do if you're in a financial rut and in need of an overhaul is to create a wish list and allow yourself the pleasure of dreaming about your goals. What is it that you really want? Is it to retire early? Would you like to set up a business? Maybe you would like to travel the world? Write down your goals and put them where you can see them every day. This will keep you motivated and focused on your financial dreams.

Many of us have deeply entrenched ideas about money and finances. These can stem from past experiences but despite these deep seated ideas, you can change your mind-set. For example, one thing I do when I want to buy a new item of clothing is think about how much wear I will get out of it. If I know I will only wear it once then it really isn't worth the investment. Also, think about it in terms of how many hours you have worked rather than in cash terms. This can make you realise that it will take a lot of blood, sweat and tears to pay off an item that you won't get much wear out of.

If you're not sure how much is going out of your account every month then now is the time to make a list your outgoings. This allows you to see how much you will have at the end of each month rather than panicking when you go over-drawn. Also, it's important to always check bank statements to ensure that you're not still paying for a service you have cancelled. Although you may have cancelled a service or payment plan, administrative errors can mean that money is still being taken after it has been cancelled. This has happened to me before.

One of the most important things to do if you're looking to overhaul your finances is to save. It doesn't matter how big or small the savings are but it is wise to put some of your income away each month and just forget about it. If you can save $10 dollars a week that's great and if you can save more, even better. Try to get into the habit of putting a little money aside.

Some things can seem too big to even think about, so we don't. It can be easy to put off thinking about the big stuff we want to achieve, worried about the fact that we just don't have the capacity to save for them. Instead, get a grip on the big stuff and start to break down big tasks into smaller chunks. You will get there but patience is a virtue and it may take a little time.

Investing in stocks and shares can seem scary but all you need to do is speak to a financial advisor who can tell you about some of the best ways to invest for your circumstances. Playing the stock market can reap many benefits too but if you're not sure what you're doing, it's best to speak to an expert who can advise.

Obviously, if you want more money, you may have to look at your career and salary and you may need to start climbing that career ladder. Keep your CV up to date and spend some time thinking about all the things you have done well. If you believe it's time to go for that promotion, there's nothing to stop you.

It may be that your bank account is not working for you any more but you can change it. Many banks are more than happy for you to put your money in their pockets and will offer great rewards and incentives for the privilege. Shop around and take advantage of the deals.

As well as your bank account, you may want to make some other switches in order to save. Maybe you need to change insurance providers or mortgage lenders. It's amazing how much you can save if you do a little research.

These are just some of ways in which you can overhaul your finances this year and be in a better position for next Christmas. Can you think of any other ways?