Get Your Finances in Order for 2010

Make it easy to save. You can have IRA contributions deducted automatically from your bank account or sometimes by automatic payroll deduction. Contributing about $415 per month gets you to the $5,000 contribution maximum by the end of 2010 (or $500 a month if 50 or over and qualify for the extra $1,000 catch-up contribution).

Clean out your financial files. Shred bank and brokerage statements if everything matches up with your year-end report. Gather documents for tax filing.

Automate your bills. Sign up for online bill paying, which makes you less likely to miss due dates and face late penalties.

Rebalance your portfolio. Make sure your retirement investments are still diversified to match your risk tolerance and time horizon.

Build an emergency fund. Keep enough cash in a money-market fund or savings account to cover three to six months of expenses.

Review your life insurance and your beneficiary designations.

Resources

The "How much am I spending?" budget calculator in the "Planning & Tools" section of www.icmarc.org can help you reduce your expenses.