Steamboat Springs — By many measures, 2008 was an ugly year for personal finance. Plummeting stocks gobbled up 401(k) balances, the real estate market took an ugly turn and a recession left many people jobless and dismayed.

But a new year has dawned, and people can resolve to protect themselves from whatever 2009 brings. Steamboat Springs experts suggested these New Year's resolutions for the financially savvy.

- Have enough cash to cover your expenses for six to 12 months.

"The bottom line is, they don't have to get the six to 12 months right away," said Dan Foley, a certified financial planner with Sleeping Giant Financial. "They can do it slowly: If they can save $50 or $100 or $200 a month and put it in a local bank, they should do it."

Pam Palmquist, a certified public accountant with Tredway, Henion, Palmquist & Kusy PC, offered the same advice.

"It's highly recommended that - and I don't think a lot of people do this - they figure out what their operating expenses are : (and create) just a savings account that doesn't get touched, six months of cash reserves," Palmquist said.

That will help ease the stress if a person gets laid off, she said.

"I don't think anyone's immune from it now," Palmquist said. "I don't care how great your job is."

- Keep a journal of where your money goes.

Tracking spending reminds people to prioritize, Foley said. They figure out where the cash is going and make sure they're putting money toward things they really want, he said.

"There's more money for an Amante coffee if you honor what you want : to spend your money on," Foley said. "Because, sometimes, that coffee's more important than the new shoes."

- Have a diverse asset allocation plan.

Palmquist recommended "being disciplined and having confidence in the market, contributing to your retirement funds, college funds, being diversified, not having all your eggs in one basket."

John Pougiales, a certified financial planner with Raymond James Financial Services, said it was important for people to have an investment plan that fits their wants and needs.

People should "have that matched to your personal risk tolerance level, and a good review of your short-, medium- and long-term financial goals could be laid on top of that asset allocation plan," Pougiales said. "So I'm just real big on that instead of keeping everything in one area."

- Bank locally.

If people support local banks with their deposit dollars, that puts more money into circulation in the community, Foley said. That means more loans for people and businesses invested in the Yampa Valley, he said.

- Keep abreast of tax and other law changes.

People can benefit from staying current on rules and regulations, Palmquist said.

She suggested "making sure that when you file your tax return, you're fully aware of all the current deductions and any tax law changes that could affect you or benefit you, making sure you're taking advantage of any line item available to you for itemized deductions, credits. There's lots of things that keep changing."

President-elect Barack Obama's administration also could push for rule changes, Palmquist noted.

"Being aware of those things and, with the new administration, how those might change" is key for financial success in 2009, she said.

"And of course," she added, "seeking the advice of professionals."