Eye 3 Yellow 3d 2 new logo Philly_KYW_new Philly_94WIP_new CBS Sports Radio 610 Philly_WPHT_new

Latest News

It’s A New Year — Time To Take Stock Of Your Finances

(Credit: Thinkstock)

(Credit: Thinkstock)

(Photo by Ed Fischer) Lynne Adkins
If you’ve listened to radio in the Delaware Valley, the odds are...
Read More

Get Breaking News First

Receive News, Politics, and Entertainment Headlines Each Morning.
Sign Up
Check Out

By Lynne Adkins

PHILADELPHIA (CBS) – Now that it’s a new year, it’s a good time to take a look at your finances and decide what changes you want to make for 2014.

First things first, decide your goals for this year. Do you want to buy a new car or save more money?

Doug Hepburn, a CPA with Cetera Advisors in Phoenixville, says be specific:

“Define smart goals, and what I mean by that is making sure they’re specific, they’re measurable, achievable, realistic and timebound. The term ‘smart’ is an acronym for those words.”

If you’re buying a car, pick a make and model, know the price and how much you need to save. Look at your budget. What is your income, from all sources and what are your expenses, including discretionary items such as travel and gifts?

If you need to cut back, you’ll be able to see where and how much is possible.