How to get your finances in order for the New Year

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by WHAS11

WHAS11.com

Posted on January 3, 2013 at 2:25 PM

Updated Thursday, Jan 3 at 2:41 PM

LOUISVILLE, Ky. (WHAS11) -- This new year, financial fitness is a priority for many people.

“It’s good to have that rainy day savings account if something comes up,” Haley Stevens, who is working to get her finances in shape in 2013 said.

WHAS11 News spoke with Chris Hudson of Morgan Stanley to find out how you can best get your finances in order. Hudson says one of the first things you should do is start an emergency fund that could cover your expenses for at least three months. Next he says you should start the process of paying off your debt.

“Credit card debt, automobile dent, unsecured loan debt, get out of that garbage,” Hudson said.

Here are some more tips from Nationwide:

-    Establish a budget
-    Document your income
-    Figure out your monthly bottom line

To reach someone with Morgan Stanley, click here.
 

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