Now is the time to prepare for 2012. Most people get excited at the beginning of the year. They start exercising. They show up at the gyms and workout facilities in January, only to see some of them gone by the first of February and many gone by the first of March. This is what sometimes happens to people who have good intentions of fine-tuning their investment portfolio. They are determined to get started at the beginning of the year, but before they know it, it is March or April and they haven’t done anything to fine-tune their investment portfolios.

In my opinion, some of the best things to do right now are meet with your investment advisor and check your expenses; see how much money you spent during the year. Did you spend more or less than you thought? How much did you save? If you are still working, how much did you contribute to your company benefit plan? Did you max out? Did you contribute to your IRA, if you qualify? Did you contribute to an educational funding program? Did you develop your emergency fund? Did you start a vacation savings plan back at the beginning of the year, or in the summer, or as late as the fall? Did you stay within your budget? Do you know how much you made this year? Do you know how much you spent this year? These are all very important questions you need to ask yourself and work on now. Answer these questions so you can start 2012 knowing what you have to work on. Maybe you have to reduce your spending. Maybe you have to increase your emergency fund. Maybe you need to add more to your 401(k) or your IRA program. Possibly you would like to add a 529 College Savings Plan or a Coverdell Education Savings Account to your financial plan. Sit down, either by yourself or with your spouse or significant other, and review each one of these items. See what you can do to reduce your expenses, increase your savings and build your investment portfolio. If you do this, 2012 could be a much more productive year for you and your family.

Don’t forget that emergency fund. You should probably have enough tucked away in a side fund, money market account or liquid investment to cover somewhere between three and six months of expenses. Emergencies usually arise at the worst possible time. The average individual only has enough saved to take them less than three months into the future, so build that emergency fund along the way.

Start off 2012 better than any previous year by knowing your expenses, adding to your investment plans and only buying what you need.

You can visit Bob’s website at www.moneytalk.org or contact his office, Delta Investment Services, Inc., at (636) 532-0484 or 1-800-969-6878.

Bob Hardcastle, President and CEO of Delta Investment Services, Inc., 16100 Chesterfield Parkway West, Suite 150, Chesterfield, MO 63017

This commentary should not be considered individual investment advice and has been provided for informational purposes only.

Securities and advisory services offered through VSR Financial Services, Inc., Member FINRA/SIPC, a Registered Investment Adviser. Delta Investments Services is not an affiliate of VSR