The new year is a great time to get yourself pointed in the right direction financially.
"Making small improvements at the beginning of the year is a lot easier than trying to play catch-up," says financial planner Rick Rodgers, author of "The New Three-Legged Stool: A Tax Efficient Approach To Retirement Planning" (www.TheNewThreeLeggedStool.com).

"Just as you would embark on an exercise program to lose weight and get physically fit, there are simple steps you can take that will lead to being financially healthy and fit."
Here are Rodgers' seven tips for improving your financial life in 2013.

• Review your credit report - Borrowing money isn't the only reason to check your credit.  Employers check credit reports and so do insurance companies.  Your credit score can have a profound effect on the amount you pay for auto and homeowners insurance -- and perhaps on health and life insurance in the not-too-distant future. Order your free credit report at AnnualCreditReport.com.

• Set up an Automatic Savings Plan (ASP) - If your employer doesn't offer this through payroll deduction you can set one up through your bank or brokerage account.  Simply have a certain amount of money withdrawn from your checking or savings account each month and deposited into your investment account. That way, you save it before you ever have a chance to spend it. Try to increase the amount you invest at least once a year.

• Establish a cash flow plan - Business owners know you can't control what you don't track.  Take the time to forecast your income and expenses for the year, and put it in writing. Then adjust those numbers to reach your goals, such as paying down debt or replacing a car.  Track your progress on a regular basis by holding a monthly family finance meeting to review the plan.

• Pay off your credit cards - It's especially important to take action on debt in 2013.  Cash doesn't earn much interest sitting in a deposit account (less than 1 percent) and even "low interest" credit cards charge 10 to 12 percent.  So if you're sitting on any extra savings, consider using it to pay down credit card debt.  Your cash flow plan should include a schedule to eliminate credit card debt as quickly as possible.

• Shop your insurance - Insurance agents are often paid commission based on premium levels, so they have no incentive for finding existing customers lower premiums. However, there is a huge incentive for a competing agent to find you the lowest premium in order to win your business. Make note of the coverage levels you have for your homeowner's and auto policies and use them to comparison shop. Look at ways to save on your health insurance coverage, too, such as switching to a high-deductible plan and opening a Health Savings Account.

• Write an estate plan - At a minimum you need to have a valid will, power-of-attorney (POA) for your finances and health-care decisions, and a living will (Advanced Healthcare Directive in some states).  Decide who will be your personal representative in the event you become incapacitated (POA) or at your death (executor).  If you have minor children, choose who will raise them in your absence and establish a testamentary trust for their finances.

• Meet with a financial adviser - An adviser is to financial planning as a personal trainer is to an exercise program.  Allow yourself to be held accountable by a third party who will push you to help yourself.  Good advisers will help you develop a budget, look at your debts, tax situation, retirement and college savings, estate planning and insurance. You don't have to be a high-net-worth individual to seek the assistance of a financial adviser.  Go to the National Association of Personal Financial Advisors (NAPFA) and search for one in your area.

Don't just make a vague resolution to save money. According to Psychology Today, of the millions of American's who make a New Years resolution, 40 percent have already failed by Jan. 31.  Let 2013 be the year you make lasting changes to improve your financial life.

About Rick Rodgers

Certified Financial Planner Rick Rodgers is president of Rodgers & Associates, "The Retirement Specialists," in Lancaster, Pa. He's a Certified Retirement Counselor and member of the National Association of Personal Financial Advisers. Rodgers has been featured on national radio and TV shows, including "FOX Business News" and "The 700 Club," and is available to speak at conferences and corporate events (www.RodgersSpeaks.com).

Morthland calls HB5440: "ineffective and irresponsible"

MOLINE, IL...State Representative Rich Morthland (R-Cordova) pledges to vote against House Bill 5440, the proposed tax on satellite TV if the sponsors try to pass the measure during the upcoming Lame Duck session in January.

Representative Morthland calls the new 5% fee an "ill-contrived attempt to distract from the major issues facing our State." Morthland says that both his Springfield and Moline offices have been receiving many calls from constituents who are justifiably outraged at this new Springfield money grab.

"Here's another fee that will prove to be ineffective and irresponsible in our current economic condition. The budgets of hard working families and businesses are already stretched to their limits," said Rep. Morthland. "To make matters worse, this tax unfairly punishes rural residents and other downstate folks who only have access to the coverage that satellite television affords."

Proponents of HB5440 claim it will raise about $75 million, which would be used to bolster education funding. Rep. Morthland questions that revenue projection number, noting that an already struggling economy conflates projections and provides for decreasing tax revenues. Furthermore, Morthland claims that the tax is a thinly veiled attempt by Cable Television companies to unfairly hurt their competitors.

"Adding the tax to satellite TV bills would be like charging toll-way fees to airline passengers," said Morthland. "These customers are doing business miles and miles above the infrastructure that traditional Cable companies interact with. This tax is fundamentally unfair and misdirected"

HB 5440 passed the Senate on vote of 30-27. The bill is likely to be brought for a vote on the House floor during the upcoming January session.

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U.S. Army Corps of Engineers to begin work on blasting rock pinnacles threatening barge traffic 

EAST ALTON, Ill. - December 17, 2012. As work begins to blast away rock pinnacles posing a hazard to barge traffic on the Mississippi River, Lt. Governor Sheila Simon participated in a meeting today convened by U.S. Senator Dick Durbin (D-IL) between the U.S. Army Corps of Engineers, members of Illinois' Congressional Delegation and industry stakeholders to discuss the Corps' response to the Mississippi's near-record low water level. During the meeting, the Corps provided a briefing on their efforts - including removing the rock pinnacles between St. Louis and Cairo, Ill., and increasing dredging - to maintain water flow on the Mississippi.

"The Mississippi River is a vital economic tool that enables our farmers and companies to efficiently ship goods around the world. Transporting those goods on our roads or by rail will cost many times more than shipping them along the river, and many of our Illinois companies - who employ thousands of hard-working men and women - cannot afford those costs. I would like to thank Sen. Durbin for convening this panel of experts, and I look forward to working together to preserve this important economic engine," Simon said.

In addition to Simon, Durbin and the Army Corps of Engineers, the meeting was attended by U.S. Rep. Jerry Costello (D-IL-12) and representatives from stakeholder industries such as agriculture, shipping, coal and petroleum.  A complete list of meeting attendees is attached.

"We came together as users and stakeholders, industry and government interests, concerned about low water levels on the Mississippi and the effects it could have on the economy locally, regionally, and nationally," Durbin said. "I look forward to continuing to work together in a productive way to build on the successes we've had in the last few weeks to maintain navigation on the river."

Today, Army Corps contractors will begin demolishing rock pinnacles posing a hazard to barges along a fifteen-mile stretch of river near Thebes. Both contractors will use specialized "drill rig barges" to drill large holes into bedrock, insert blast material and remove the rock. Assistant Secretary Darcy agreed to expedite the blasting process, which is expected to last 30-45 days, following a meeting with Sen. Durbin and several other senators.                               

On Dec. 7, Lt. Governor Simon, chair of the Mississippi River Coordinating Council convened a meeting with officials from the Corps to discuss the impact the 2012 drought has had on water levels of the Mississippi and Missouri Rivers. The Lt. Governor also wrote to U.S. Army Assistant Secretary Jo-Ellen Darcy, urging federal officials to intervene to help preserve the river.

Water levels are already approaching 1989's record drought levels, and barges are currently required to carry lighter loads. Mississippi River commerce is estimated to be a $180 billion a year industry. If water levels drop below nine feet, barge traffic from St. Louis to Cairo, Ill. could be shut down. Trucks utilize more fuel than barges, and barges are able to carry a larger volume of goods than trains or trucks. According to the federal Government Accounting Office, the cost of trucking goods is nine times higher than the cost of transporting products by water.

In addition to blasting, the Corps is also planning to increase dredging along the river. Besides the dredging machine already in use, the Corps mobilized a second dredging machine last week and has identified other dredging ships which can be used, if necessary, to keep the river open to traffic.

The Mississippi River is a critical transportation artery for essential commodities like corn, grain and oilseeds, coal, petroleum and other products. The financial impact of a river shutdown could be far reaching. This summer's historic drought has caused the Mississippi's water level to fall to historic lows, threatening navigation of the river. Recent rainfall and weather forecasts have improved the Mississippi's outlook, though the water level could still fall to a record low as soon as Dec. 26.

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