Set Personal-Finance Course for Rough 2009

As the economy falls deeper into a hole, a review and some preparation can improve your finances for the year ahead. Here are a few tasks you should consider doing.

Review 401(k) plan (and other job benefits). The economic crisis has businesses trying to cut costs anywhere they can, and one place that's convenient is the 401(k) match. Eastman Kodak(EK Quote), FedEx(FDX Quote), General Motors(GM Quote), Motorola(MOT Quote) and Resorts International have all recently cut their matching contributions.

The rule of thumb has been to invest in your 401(k) up to the match. If your company no longer offers the match, it may be time to look at other options. This is especially true if your company's 401(k) offers limited investing options or ones you didn't particularly like, but tolerated due to the match.

While you're at it, review your benefits. You'll likely be surprised at some that are available. As companies reduce and change perks, it will be important to keep on top of the changes so you can take full advantage of those benefits being offered.

Review this year's financial goals and set next year's. A lot has happened in the past year and, with the economy in a recession, it's likely you are going to need to reevaluate long- and short-term goals. The important issue is to have financial goals in the first place.

Do a holiday house cleaning. Take an inventory of your house. If you haven't touched something in the past year, it's probably something that should go. If the item still has value, consider selling it on eBay.com (EBAY Quote) or Craigslist. If it doesn't have much value or isn't worth the time and effort to sell, bring it to Goodwill or the Salvation Army. You'll be able write off the donation on your taxes.