Tip #1 Start, or boost, your emergency savings account

The biggest barrier to saving is not being in the habit of saving.  The best way to get in the habit is to pay yourself first by directly depositing money from your paycheck into a dedicated savings account.  This can be done concurrently with your goals of paying down debt or saving for retirement.  You won't miss what you don't see, and putting your savings on autopilot is a great way to reinforce your money saving habit when unplanned expenses inevitably come along.

Tip #2 Yes you can with a plan

Yes, you can, with a plan! Having a spending plan for your income is the best way to ensure that you are spending your hard-earned money in the way you want and most importantly, in the way that assures your financial success.

Tip #3 Half of nothing will be something

Commit money you don't have yet to paying down your debt. Use at least 50 percent of any new raises, bonuses, tax refunds or other source of additional income to give yourself a boost in paying off expensive debt.  

Tip #4 Debtor beware

Take some time to review your credit reports to make sure they contain accurate information. Get a copy of your reports for free at AnnualCreditReport.com. If you have ugly credit caused by errors, this will hurt your credit score. If you find inaccurate information, dispute the item with the credit bureau that reported it.

Tip #5 Pay down high interest credit cards

For many households, the best return on your money is to pay down credit card debt. Whether carrying balances at 12 percent or 22 percent, credit card debt is typically the costliest debt households have. Plowing excess cash into repayment of credit card debt is a double-digit, risk-free return because it reduces the outstanding balance and the resulting interest charges. This is a sound move now as credit card rates will only move higher over the next two years.

Tip #6 Track your monthly spending

People hate to use the "B" word -- budgeting. Call it what you want, but you do need to get a handle on your spending. Doing so does two things: It helps you determine where you can cut back and helps maximize your money-saving efforts. Begin by tracking your spending for two months. Then use that information to build a realistic monthly spending plan. Finally, track all of your monthly expenses. At month's end, tally your spending against the plan and see where you did well and where you didn't.

Tip #7 Energy largesse

Through Dec. 31, 2010, homeowners who buy and install specific energy-efficient windows, insulation, roofs, doors and heating and air-conditioning equipment can get a 30 percent tax credit for up to $1,500 of their costs on each product.

Tip #8 Explore free services and alerts

If you check account benefits online, you might discover free tools and services that could help you manage your debt or credit score. You might find access to free credit scores, spending analysis tools and custom alerts for key account changes.

Tip #9 Know what you owe

To get where you need to be, you need to know where you are starting. Gather up all your statements and determine how much you owe in total. If you don't like the answer, this negative exercise can give you the oomph to get going.

Tip #10 Save like there is a tomorrow

Start an automatic savings plan. The simplest way to avoid unwanted debt is to have money set aside for those unexpected or large expenses that we all have. When you have money taken from your paycheck or checking account and automatically deposited into a savings account, you will hardly notice. But you will be building a very important financial tool -- liquid savings. Your savings goal should be six months to a year of living expenses.

Tip #11 Maintain the status quo

Many people cannot pay off their debt. Thus, they carry a credit card or loan balance from month-to-month. Obviously, everyone wants to be debt free. See if you can avoid increasing your debt in 2010. That alone would make it a successful year.

Tip #12 Manage your credit history

The consumer reporting agencies have to give you one free credit report each year. Spread the requests out over the year so you're reviewing a credit report every four months. You could request Experian's report in January, Equifax's in May and TransUnion's in September.