The new year feels like a good time to reevaluate your finances and set goals for yourself moving forward. Certified Financial Planner Michelle Buria from Choreo shares her ideas to make sure you’re on the right track.

No. 1: Determine your major financial events

“Write down some of the major financial events that may be coming up,” Michelle recommends sorting these into time horizons. “You write that down and then when you attached a number to that should help you jump start your budget.”

No. 2: Update net worth statement

Net worth is assets less your liability. Assets are your bank accounts, investment and retirement accounts, property, and things that you own. Liabilities us what you owe: mortgage, home equity line,and credit card debt.

“I like to write mine down because it’s a good assessment.”

No. 3: Check your retirement plan accounts

Saving 15% is an good target to aim, but Michelle acknowledges that not everyone can do that. “They’re starting out saving 10%. Well, in January give yourself a raise- Increase it by 1% or 2%. Those smaller incremental changes are less noticeable on a paycheck than if you were to all of a sudden come to that full amount.