The new year is a great time for a fresh start. Out with the old! In with the new!

It’s never the wrong time to get your financial ducks in a row, but there’s no time like the present to get started.

At any age and career stage, it’s a good idea to focus on earning more and saving more. The sooner you begin planning for retirement, the better. Talking with a professional is usually a good way to get the best financial advice for your future.

What do the experts advise?

Make a Financial To-Do List

Some of the things that your list should include are:

  • Review what you spent in 2017; look for things you need to change for 2018
  • Review your budget and add items or remove ones you no longer need (i.e., can you reduce spending on items like food?)
  • Check your credit score and report
  • Revisit your subscriptions
  • Check what effect the new tax law will have on your taxes this year
  • Plan to set aside an emergency fund

Negotiate a Higher Salary

Salary negotiation success depends on who has the best information and the best leverage.

Therefore, know what you’re worth, emphasize what you have to offer and what you have accomplished, and give it your best shot. It never hurts to ask.

Save a Little Extra Every Week

It’s a cliché—cut out your daily caramel macchiato to save for retirement.

It sounds like kitsch, but small savings do add up. Instead of indulging, put the money in the bank. Start small and work your way up.

Some ideas:

  • Save your loose change. 50 cents a day will get you almost halfway to a $500 emergency fund in a year.
  • Impose a rule on your impulse buys. Wait at least 24 hours before hitting the order button. Maybe you don’t need that Williams Sonoma 19-piece kitchen essential set after all. Even better, wait 30 days.
  • Eat out once fewer each month. Stick to water for your beverage when you do (restaurants mark up the cost of alcohol by three to five times.)
  • Buy generic prescription drugs if your doctor says it’s OK. Comparison shop. Use store brand over-the-counter meds.
  • Watch less TV. You save on the electric bill, and even more if you cut the cable. And you won’t be tempted to spend by TV ads. Turning out the lights helps, too. And investigate programmable thermostats to cut down on energy use.
  • Repair clothes instead of buying new. A stitch in time saves. Closet stuffed? Have a yard sale or hit eBay or Craigslist. Consignment stores can help you. Or donate for the tax deduction (assuming donations are still deductible).

Revisit Your Retirement Plan

Words of wisdom for planning your future retreat:

  • Start saving now
  • Save as much as you can
  • If you have a 401(k), increase your contribution
  • If possible, keep all your retirement funds in one place to make it simpler to keep track

Spend Money to Save Time

Here’s some of the best financial advice that’s counter-intuitive. Sometimes it makes sense to spend money to reduce stress and increase your enjoyment of life. But instead of buying stuff, buy time.

Studies have shown that outsourcing jobs you hate doing makes for a happier, less stressful life. And you don’t have to be rich to benefit. Ordering takeout or hiring somebody to clean your house pays big benefits. Consider what will give you more satisfaction: more stuff or more time?

Talk to a Professional

If you have more to consider or more to invest into, turn to a financial advisor. Keep in mind, though, while professional help can be a lifesaver in getting the best financial advice, be sure you find the right professional.

What do you need to think about?

  • First, your financial advisor should be acting for you, not themselves. Hire one who is willing to sign a pledge to act as your fiduciary, promising to act in your best interests and not to profit at your expense.
  • Check your advisor’s credentials. Brokers don’t have to meet the same licensing standards as certified financial planners or chartered financial consultants.
  • Research your potential advisor’s history for black marks. The Investment Adviser Public Disclosure website is a good place to start.
  • You may not need a full-time advisor. Check into getting pay-by-the-hour advice.

Applying the Best Financial Advice for 2018

Now is the time to put the above-mentioned advice into practice for 2018.

Give due consideration to getting your financial house in order by making a financial to-do list. Make it your goal to negotiate a higher salary this year. Save a little extra every week. Revisit your retirement plan and perhaps even talk to a financial professional to follow up on the best financial advice.

But (who knew?), it may be that spending money to save time for yourself is the best financial advice you’ll hear in 2018.