So when you ask how your money is feeling, you may also feel the pressure of not achieving what you set out to achieve during this year.

And as we are counting down to a New Year, why not make an effort to take on the next 29 days to improve your financial life? Thanks to financial planner Philip Taylor for the checklist.

Now while it is suggested that you do one activity over the next 29 days, there is no pressure. Take your time and do it right.

Taylor notes, “While I can’t promise you’ll be rich or completely debt-free by the end of 29 days, I can assure you that if you take action on the 29 tips, your financial life will be much better off this year than last.”

Let’s do this!

Day 1: Save $1,000 a day for 31 days

This can do a lot for your feelings of security. It’s also evidence that you are capable of living within your means, and (possibly more importantly) holding on to your savings.

Do this today: Open up a separate savings account and have money automatically deposited into the account each month. You didn’t even have to think about it beyond that one time you set up the automatic deposit. You’ll be less likely to touch the money because it’s in a separate place. Out of sight, out of mind.

Day 2: Sell your excess stuff

To boost your savings, you might want to sell some of your excess stuff (you know, the valuable things you have lying around the house that you never use anymore).

Do this today: Walk around your house and make a list of things that you want to sell. Take pictures and list the items for sale online at significant discounts (think quick sale!).

The stuff you don’t sell in a week should just be given away for free or donated. Once you’ve collected your cash, deposit it quickly into your new savings account so that you keep the money instead of spending it on new stuff. After all, your goal is more savings, not more stuff.

Day 3: Add to your retirement savings account

The new year is a great time to adjust your retirement savings account. If you’re not contributing anything, then start…at least enough to get the matching company contribution. If you’re currently contributing 5 per cent of your income, bump it up to 7 per cent. If you’re currently contributing 10 per cent, consider bumping it up to 12 per cent. You get the point. Push yourself to contribute more.

Day 4: Review (and fix) your credit report

Yes, credit reports are now in Jamaica and you are entitled to one free report per year. We can also use this review to make corrections if necessary. It’s not uncommon for your credit reports to contain errors or fraud, and these issues can pop up at any time. So it’s a good idea to review your credit reports at least once a year, if only for this purpose. Before we close out this day, be sure to use the credit reports to make a list of your outstanding debts. We’ll use this list when we tackle getting out of debt in a few days.

Day 5: Get to know your monthly expenses

No matter the income level, financial success comes from consistently living below one’s means. This doesn’t require complicated spreadsheets and software. All you need is a pencil and paper. In fact, I almost prefer this method since it requires you to physically write down your expenses.

Day 6: Reduce your debt

Whether it’s debt on a credit card, a car loan, student loans, or your mortgage, owing money to someone else is a pain in the you-know-what. Most people get into debt because they ran into a tough time financially. Do this today: Take your list of debts and prioritise them by interest rate, amount, or level of emotional attachment. Start aggressively attacking the first debt on your list. Each month, plan to pay as much as you can afford on the highest priority debt, and pay the minimum payment on the other debts. Once you pay off the first debt, move to the next, and so on. This snowball approach works, because you build momentum as you knock each debt down successively.

Day 7: Know your assets (and net worth)

Break out the old pen and paper or spreadsheet and start listing your assets: cash, bank accounts, investing and retirement accounts, your house if you own it, other real estate, your car(s) and other vehicles, jewellery and collectibles, expensive art or furniture, etc. Once you have this list totalled, you can subtract your debts and you’ll know your personal net worth. Is it positive? Do you foresee it heading in a positive direction in the future?

Finally, create a home asset inventory. Take a video camera and make a sweep through your house video-taping the stuff in each room. Be sure to upload the video to the cloud or burn a copy to CD and place in your safe. This will be useful for insurance purposes in case of a fire or burglary.

Day 8: Feed your financial brain

There is always something new to learn and discover – some unique financial situation which I’ve yet to consider. That’s how it is. Proper money management is a language you never stop learning. That’s why it’s important to regularly consume information to help you on your journey. Commit today to learn something new each week of 2018.

Day 9: Save for emergencies, travel, a new home, etc

On day one of this series I challenged you to save $1,000 a day.

Nothing disheartens you faster than an emergency that drains all of your cash and forces you to go into debt. The best place to start, in my opinion, is to create an emergency fund. This is money set aside to be used if, and only if, you experience a household emergency like a job loss, a major car or house repair, major medical expenses, etc.

Do this today: Make a list of all your future cash needs. Here are some ideas: emergency fund, a vacation, down payment on a house, Christmas gifts, annual bill payments like insurance or taxes, a new car, etc.

Day 10: Create goals for your money

Do this today: Look back through the last nine days and write down all of the little goals you’ve set for yourself. Did you decide to save $1,000? Did you decide to get rid of your debt?

Once you have your list of goals, take a moment to think about priorities. Will you be able to do them all simultaneously? Will one need to be achieved before you can start on another? If so, designate that in your list of goals. It might also be useful to separate your short-term goals and your long-term goals.

Lastly, don’t think of these goals as set-it-and-forget-it. You’ll need to occasionally re-evaluate where you are with your goals, considering possible life changes and new desires.

Day 11: Plan a money date

Do this today: Schedule an hour to meet with your significant other about your money goals. Talk about days 1-10 of this series. Seek input from them about what they want to be doing with money. They may have come with their own list of goals.

If you are single, plan to go over your money goals with a trusted friend or family member.

Day 12: Get (or renew) life insurance

If you earn an income and someone else (eg spouse, kids, etc) depends on that steady stream of income to survive both now and for years to come, then you should probably consider life insurance.

Why? Because if you’re gone (tough to think about, I know), your dependents will be left without that income source.

Do this today: If you don’t have life insurance, and the policy that you get through work isn’t enough, then buy some. Calculate how much you need, get quotes for someone your age and health, and then take the steps to buy.

Day 13: Trim your expenses

Do this today: Take your list of expenses and label them as needs vs wants. If something is a want, think about eliminating that expense, if only for the short term. Now look at all of your expenses and decide if there are any that you could possibly pay less for.

Dennise Williams, MBA (Banking & Finance) is a journalist, TV producer. Contact her at financiallyfocusedtv@gmail.com.