As 2014 draws to a close, it’s time to make New Year’s resolutions for a wealthy 2015. And what better way to do that than to set financial goals that will lead you on the road to success and happiness. Most importantly, they must be specific, measurable, attainable, realistic and timely. In other words, make ‘SMART’ financial goals so you can actually achieve them.

Here are 13 smart financial goals to aim for in 2015:

Create a budget

If you don’t already have a budget, create one now. Plan where you’re going to spend your money and how much, and stick to it. Free personal finance apps such as Mint, Level and Check can help you set up a budget and track your spending.

Start saving

Save at least 10% of your earnings each month and cut back on some of your expenses, like eating out or renting movies. You can also open a high-interest online savings account and set up an emergency fund for unexpected expenses. Having a goal for your savings will help motivate you.

Make extra mortgage payments

If you have a mortgage, make extra payments each month if you can afford it. This way, not only will you reduce the number of years it’ll take to pay off the loan, but you’ll also reduce the amount of interest you have to pay.

Check your credit report

Order a free credit report every 3 months or so and have a look over it. If there any errors or negative information in it, correct them immediately. You could increase your credit score this way and avoid having to pay higher interest rates on loans or on other credit you owe.

Reduce your debt

This includes paying off your credit cards and other loans. Debts with higher interest rates should be paid off first. Use your savings to pay down your debts. If you can’t pay off most of your debts in one go, consider setting up a debt repayment plan.

Automate your bills and savings

You can pay your bills on time and save on a regular basis by signing up for online banking and automating your payments. This works by setting up scheduled automatic payments, where the money you get from your pay cheque goes straight to paying off your bills and to your savings account.

Review your spending habits

Reviewing your spending patterns will enable you to know where you can save more money. Also check if you spent more or less for a particular category. If you spent more money than what you budgeted for, you’ll need to change your spending habits.

Put more money into your super

Contribute extra to your superannuation fund each month, but only what you can afford. Start now so you don’t miss out on potential investment growth. And with compound interest, you can have a lot more money to fund your retirement.

Review your insurance policies

This includes income, life, health, home and contents, car, and death and disability insurance. Major changes in your life such as getting a new job or marriage may require you to adjust your premiums or add dependents. Also make sure that you have enough coverage.

Start investing

Invest the money you’re saving to make it grow faster. Do your research and speak to a financial planner to ensure your investment success. You can invest $50 a month in a mutual fund, where deductions are made from your bank account or pay cheque.

Rebalance your investment portfolio

If your portfolio’s unbalanced, rebalance it to its original asset allocation to stay on track and reach your goals. Or, you can change the asset allocation to lock in gains from sectors with the highest returns. Also have the right mix of growth and defensive assets that meet your needs.

Undergo a financial health check

There are many things you can do, from checking that you’ve got the best mortgage rate to investing in other assets like corporate bonds that’ll give you better returns while interest rates are low. You can talk to a financial adviser to ensure that your finances are working for you, not against you.

Educate yourself on financial matters

By learning about money and finances, including saving and investing, you’ll be able to better manage your money and achieve your financial goals and dreams. You can research online or read books and magazines on wealth management. We think the SRG Finance blog is a great place to check in every month!

With these financial goals in hand, and any others you’d like to add, you will be in for a happy and prosperous 2015!