It's a New Year and a new start. Now that all the celebrations are well and truly behind us, we thought there'd be no better way to start 2010 than helping you come up with some financial resolutions for the next 12 months.

We're all pretty agreed that 2009 is perhaps best forgotten.

But that doesn't mean 2010 has to be the same and our top five suggestions should help you off to a flying start.

Assess your debts

For many of us debt is a fact of life and it's more than likely that Christmas has only added to your burden. All debt has to be repaid at some point and staying in control of your debts will give you peace of mind.

Working out a repayment plan can be fairly straight forward depending on the level of debt. With credit cards you should always try and pay more than the minimum amount each month. If you are struggling to keep up with repayments, you should speak to a debt adviser sooner rather than later.

Budget

An easy way to keep on top of your finances is to draw up a budget and stick to it. Budgeting is an easy way to understand your own money situation, allowing you to work out quickly and easily what money you have coming in and what money you have going out.

It's also the first step that you need to take if you are struggling with debt as it will highlight where you can make cutbacks.

Improve your income

If you are struggling with debt or maybe just want some extra cash there are plenty of ways to increase your income.

Make sure you are claiming all the benefits that you are entitled to. Try getting a second job. There are numerous part-time vacancies available from shop and bar work to work-at-home schemes. Every little helps and a second income can help keep your head above water.

You should also check your tax band and ensure that you are paying the right amount of tax as well as claiming any tax credits that you are entitled to.

Start saving

Interest rates may well be at record lows and looking at staying that way for the foreseeable future but there are still some good savings rates available. The type of savings account you choose will depend on how fast you need access to your cash.

Make sure you use your full ISA allowance (£3,600, or £5,100 if you are over 50) and if you want a higher interest rate you could look at putting your money into a bond. Starting to save now will also help you plan for any big future events or purchases that you might have planned over the next 12 months.

- Compare leading savings accounts, bonds and ISAs »

Get a better mortgage

Although getting a mortgage may not be as easy as it once lenders are becoming more and more competitive as general market conditions improve. If you already have a mortgage you should check the rate that you are paying against other deals that might be available to you.

Remortgaging onto a cheaper deal can save you thousands of pounds over the course of the next 12 months. You should get in touch with a mortgage adviser who will be able to search the entire market for you.