With the economy taking us on the ride of the century and 2009 right around the corner, taking control of your personal finances should be at the top of your list of New Year’s resolutions. Whether you are planning on changing jobs, paying off a loan, buying a new home, starting a business or even just taking a vacation in the next year, it’s essential to have the necessary funds to meet your goals. That means taking the time to sit down to review your current financial situation and taking some steps to keep your finances organized and, most importantly, protected. But don’t despair – financial planning doesn’t have to be a chore! Here are some simple tips to help you take a new, proactive approach to managing and protecting your finances for the New Year:

1. Set a budget. What’s your current ratio of income versus expenses? If you don’t know, then your first step in taking charge of your finances will be to figure out what your fixed and variable costs are each month, and compare them with your net income. Some expenses can’t be changed, but others can be, and having a handle on how much you can spend will help you to stay within the limits, so that you don’t get in trouble with overextended credit. Having a budget doesn’t mean that you can’t enjoy life – it just means that sometimes you need to stretch out the timeline on your purchases.

2. Have sufficient cash reserves on hand. Most experts recommend having at least 6 months worth of income set aside for emergencies. In order to save money, reduce spending in unnecessary areas — this will also reduce your reliance on credit and ease the burden on your investment assets.

3. Know Your Scores. Most everyone is familiar with a FICO score used throughout the world to assess credit risk. FICO scores are available through all of the major consumer reporting agencies and to find out what your FICO score is, order your credit report from one of these agencies. You are entitled to receive a free credit report from each of the big three credit-reporting agencies (Equifax, Experian, and TransUnion) once per year, and can order it from the official credit reporting Web site at www.annualcreditreport.com. Now there is another important score that everyone should know — your risk for identity theft. In tough economic times, many experts predict a rise in identity theft – now the #1 crime in America. In the last year, over 200 million Americans had their identities compromised and new victims of identity theft happen every 2 seconds. Understanding your risk is critical in these economic times. With the introduction of their IdentityThreatScore by TrustedID, you can get your score –assessing your risk for identity theft. It will outline your individual risk profile and determine immediate next steps that should be taken for prevention. Learn more at www.trustedid.com.

4. Protect What’s Yours. In addition to assessing your risk of identity theft, take proactive steps to prevent it. Avoid giving out your Social Security Number if it’s not absolutely necessary. Shred mail that contains account information or new credit card offers before throwing it in the garbage, and avoid carrying bills, your Social Security Card, or other personal information with you, especially if you are traveling. If you bank online or store personal information on your laptop, it would be wise to change your password at least once a month and try to select passwords that will not be obvious to potential hackers (birthday, anniversary, pet name, etc.). Always use firewall, virus and spyware protection software that you can update regularly like Norton Internet Security 2008: http://www.norton-security-store.com/. This will protect your computer from spyware, which can collect many different types of personal information, including passwords and credit card numbers. Only download free software from sites you know and trust. For comprehensive protection, consider signing up for an identity theft protection service.

5. Grow Your Worth. In order to increase the value of your investments, most experts recommend building a diversified investment portfolio. Before investing, review all of your investments carefully and evaluate the long-term viability of each. Make sure that your financial assets are spread out, to ensure that you are not overexposed to any particular segment of the market. If you invest in mutual funds, make sure that you invest in different securities within the same asset class, such as stocks, bonds, and cash equivalents. Diversifying within an asset class can help smooth out the returns within a particular sector of your portfolio.

Findings of this survey, conducted by independent market research firm, ICR, reports while Wall Street put the pedal to the metal in reaction to President Bush’s bailout announcement, Main Street may be stuck in neutral. The Dow rose more than 150 points within ninety minutes of his announcement to provide temporary assistance to GM and Chrysler in an attempt to stave off bankruptcy and retool for the future.

International Communications Research surveyed 778 adults across the United States to determine their likelihood of buying an automobile manufactured by a firm operating under Chapter 11 bankruptcy protection. As is the case with many durable purchases, experience is key.

The data found that less than half of those surveyed (45%) stated they would buy a new American car from a manufacturer who was operating in Chapter 11 bankruptcy. ICR also found that these views are significantly impacted by the type of car currently owned. Over 60% (61%) of Americans who currently owned an American car stated they would “Definitely” or be “Very Likely” to purchase an American car if the manufacturer was operating under Chapter 11. This compares to less than 20% (17%) of those who do not currently own an American car. ICR also found that Americans are open to “green” vehicles, but only if the price is right. Nearly three-fourths (72%) of those surveyed stated they would consider a smaller, even electric powered vehicle, as long as it was priced similarly to current, non-green alternatives. This number drops to barely half (51%) if a green vehicle was priced several thousand dollars more than those currently available.

The busy holiday season has proven to be an ideal time for identity thieves to target unsuspecting victims. The Federal Trade Commission reports that in 2007, consumers reported losses from identity theft and fraud of more than $1.2 billion, and with consumers facing an already tough economy, they need to be particularly vigilant this holiday season.

Below are some tips that the identity theft protection company, LifeLock, offers for shoppers to keep in mind to safeguard their identities this holiday season:

• Shut out Scrooge – Make it difficult for criminals to apply for and receive new credit in your name. Place a fraud alert with the three major credit bureaus and deny those thieves looking to thwart your credit and your holiday spirit.
• Memorize it – If you don’t know it by heart yet, think of a catchy way to memorize your Social Security number, and then you can keep it stored in the safest place of all (your brain!) and not in your wallet.
• Are you really you? – Write “See ID” in ink on the back of your credit card next to your signature. This is an effective way of reminding cashiers to check the credit card against your photo identification.
• Keep your distance – Beware of anyone looking over your shoulder when you are making a purchase. Especially when using a debit card, make sure to cover the PIN keypad while entering your personal PIN—“shoulder surfers” could be watching or even recording on a cell phone camera!
• Gone “phishing” – Watch out for “phishing” scams, when crooks send you e-mails that look to be from legitimate companies, requesting that you provide them with personal information.

98% of the nearly 700 financial institutions responding to a recent Wolters Kluwer Financial Services survey conducted in August 2008 say they are offering their customers commercial loans, including both commercial real estate and commercial and industrial loans. On average, commercial loans represented just under half of respondents’ loan portfolios (46 percent).

“While those numbers may have changed because of recent credit market conditions, they do illustrate the overall importance of commercial lending as a line of business for financial institutions and as a significant percentage of their loan portfolios,” said Ken Newton, executive vice president of Banking for Wolters Kluwer Financial Services.

The survey results also showed 7 of 10 respondents used a software solution to document commercial loans while 40 percent were using an outside service, including those provided by attorneys, to do so. Newton says one of the main reasons financial institutions are implementing new technology to document commercial loans is the numerous benefits automation presents. These include lower cost and faster documentation as well as more thorough compliance with an increasingly-complex set of regulatory requirements.

This time of year you no doubt will see countless lists and projections of what will occur in 2009.  However I thought you would like to see what WON’T happen next year.

Given the global recession, lots of things won’t happen in 2009, of course. So ABI Research’s analysts focused on several of the company’s core areas of expertise, including mobile marketing and mobile banking, near-field communication, digital media, IPTV, transportation, navigation and location based services, mobile phones and mobile telecoms, intellectual property, Wi-Fi, WiMAX and other networks, with a special look at Asia.

Any contrarian look at what won’t happen naturally sheds light on what might. While many markets are undeniably in turmoil, there are opportunities as well as challenges, and surprising bright spots amid the gloom.

Will mobile marketing hit the big time? No; but the mobile Internet is powering ahead and creating a foundation for the future.

Will IPTV replace traditional broadcast TV? Absolutely not. But some markets are robust and some providers are prospering.

Will the “location industry” get lost? No: in fact 2009’s climate may have a bracing effect in the longer term.

With its mix of expert opinion, informed assessments, and wry humor, “What’s Not Going to Happen in 2009″ makes for a lively and informative read.

Nortel’s share price recently dipped to about 40 cents. While ABI Research in no way singles out the beleaguered network equipment vendor as worthy of particular criticism, according to senior analyst Nadine Manjaro Nortel’s low fortunes are symptomatic of several current industry trends.  A recent study from ABI Research, “Mobile Network Vendor SWOT Analysis,” examined the strengths, weaknesses and strategies of the world’s major wireless infrastructure providers. It provides insights into why bad economic times affect some companies more than others.

“Nortel is strong when it comes to the enterprise,” she says, “but recently they have made a lot of investments aimed at winning business from service providers, efforts that have not really taken off because of an unclear strategy and changes in operators’ technology choices. That was an ominous situation, which the global recession has now made more serious.”

In contrast, Alcatel-Lucent was doing poorly too, but is now improving its performance and gaining higher ratings from financial analysts after a corporate revamp and a change of top leadership. Motorola’s share price is on the rise too due to re-structuring and shifting focus into stronger segments.

Does the recession mean that network operators are cancelling or delaying infrastructure projects? Not necessarily. Telecoms are actually faring better than many other industries, and while operators may cut spending, so far the cuts have mostly been operational rather than on infrastructure.

“It’s about decisiveness and execution,” Manjaro concludes. “Take a company like Ericsson: they’re not doing great business, but their share price is still around $8.00. Their strategies are clear, and they benefit greatly from their emphasis on providing managed services as well as hardware. All vendors are struggling, but some more than others, and this market will weed out the weaker players.”

Two recent independent studies have concluded that more than one-third of Americans who own a High-Definition Television (HDTV) are not currently watching HD programming. The same studies note that HDTV ownership has increased nearly 50 percent in U.S. households over the past year.  “Holiday HDTV shoppers remember … HDTVs aren’t HD unless you get HD service. Comcast is your best choice for HD programming, and we’ve made getting it installed even easier and faster than before,” said Derek Harrar, Senior Vice President and General Manager of Video Services for Comcast. “Once you’ve experienced HD, you’ll want more. With well over 1,000 HD choices, we deliver more of the best HD content than anyone else.”

Additional findings show:

• a surge in HD viewing time with 43 percent of consumers that have HD programming spending half of their TV time watching HD. The growth in HD viewing is attributed to the growing number of choices in HD
• 33 percent of HDTV owners have more than one HDTV set
• more than one-quarter of HD viewing homes now have more than one TV set connected to HD service
• top-viewed categories of HD continue to be movies, action/drama, concerts and sports
• gender differences exist for HD viewing, with 48 percent of men seeking out HD content when sitting down to watch television, while only 31 percent of women do the same

Most U.S. adults find Internet access essential to daily life in today’s economic climate, with some choosing it as a must-have over watching TV and having sex, according to the recent “Internet Reliance in Today’s Economy” survey conducted by Harris Interactive* and sponsored by Intel Corporation.

The survey revealed that 65 percent of adults feel they cannot live without Internet access, and even more – 71 percent – responded that it is important or very important to have Internet-enabled devices, such as laptops, netbooks and mobile Internet devices (MIDs) that can provide them with real-time updates on important issues including the state of the economy. Most U.S. adults also identify the Internet as a key tool in today’s economy for managing personal finances, finding discounts and the best deals while shopping online, and many rated access to the Internet as indispensable compared to other discretionary items, such as dining out, shopping for clothes and gym memberships.

Key Survey Findings

Would You Choose the Internet Over Sex?: According to the survey, nearly half of women (46 percent) and 30 percent of men would rather go without sex for 2 weeks than give up Internet access for the same amount of time. For women aged 18-34 it was 49 percent and for women aged 35-44 it was 52 percent. For men aged 18-34, it was 39 percent.

Internet Access Essential in Today’s Economic Climate: Ninety-five percent of adults feel that it is very important, important or somewhat important for people to have devices that allow them to access the Internet. A majority (82 percent) agree that Internet-enabled devices help them stay up to date real-time on the state of the economy. Eighty-seven percent say that Internet access has helped them save money. Of these adults:

• Eighty-four percent have saved money by comparing prices online and finding the best deals before making purchase decisions.
• Sixty-six percent have saved money simply by shopping online.
• Sixty-five percent say the Internet has helped them save money by allowing them to search for coupons, discounts or special Internet promotions.

Move over Gym Membership, the Internet is a Must-Have: When asked to rate certain discretionary items on a scale of 1 (completely expendable) to 5 (cannot live without it), having Internet access ranks highest among the items listed, with 65 percent of U.S. adults reporting they cannot live without it. The following items and activities were ranked below Internet access in importance:

• Cable television subscriptions (39 percent)
• Dining out (20 percent)
• Shopping for clothes (18 percent)
• Gym membership (10 percent)

The Internet Trumps the TV: The majority (61 percent) of adult women would choose to give up watching TV for 2 weeks instead of giving up access to the Internet for only 1 week, and more than half of all U.S. adults (58 percent), both male and female, agree. Many shows and movies are available online, and laptops with powerful, energy-efficient processors make TV watching – even when on the go – possible almost anywhere.

• Sixty-seven percent of U.S. adults aged 18-34, 57 percent of U.S. adults aged 35-44 and 52 percent of U.S. adults aged 45 and older would rather go 2 weeks without watching TV than give up Internet access for a week.

Life is Better Because of the Internet: Nine of 10 U.S. adults (91 percent) report that the ability to access the Internet has improved at least one aspect of their lives. Within this group:

• Seventy-eight percent say their ability to stay in touch with friends and family has improved.
• Sixty-eight percent say they are able to shop more effectively.
• Nearly half (47 percent) say they are able to manage their finances better because of the Internet through activities such as online banking and paying bills.

Should I disconnect the cell phone? Boycott voice mail? Throw the PDA out the window? As a chaotic 2008 comes to a close and workers resolve to regain sanity in 2009, where do they go for answers to questions about how to cope with information overload?  Inspired by their Future of Work study, Xerox has given nine tips to help you save time and manage information overload.

1. Breathe. It may sound simple, but not enough people take the time to do it. So schedule breaks into your daily working routine. It helps productivity – even stepping away from your desk for a moment. Even a quick nap helps you regenerate and be more productive. Research supports this, we swear.
2. Simplify Your Schedule. Try scheduling all of your meetings on specific days so you have more time on non-meeting days to process information coming in – it’s much easier to focus when you don’t have a meeting looming in 20 minutes.
3. Back It Up. No information is worse than too much. Make sure you have a solution in place for regular back-up.
4. De-clutter Your Desktop (both of them). File, pile or toss papers as soon as you receive them. Scan and save important documents to reduce desktop clutter instead of filing. On your computer, consider getting rid of folders altogether and using desktop search engines to find things when you need them.
5. Touch it Once. Often we waste time dealing with the same piece of information again and again. Respond as soon as you receive it, put it in its file or delete it/shred it the first time you touch it.
6. Forget the Free Stuff. It comes at a price (e-mail garbage and unsolicited offers). Choose quality over quantity. Manage your bills and accounts online and sign up for the do not call lists and the no junk mail lists.
7. Use Your Tools. Make use of your phone for getting the right info at the right time. For instance, you don’t have to waste time printing maps if you can access them from your phone. GPS phones have the smarts to give you the right information based on your actual location.
8. RSS Reprieve. Sign up for an aggregator. It helps you see all your news in one place.
9. Manage Mobile Madness. Use a mobile device with e-mail support to make hours way from your desk more productive. Keeping track of e-mail throughout the day can help you anticipate future work, and take care of mini-projects as they arise instead of waiting until later to sift through a huge pile of e-mail.