I will ever pay another mutual fund load.

A “load” in mutual fund parlance is simply a sales charge. It’s the price of admission you pay to become a shareholder in the fund. Loads typically range from 3 to 6 percent of the amount you invest, although some funds will waive the load if you invest above a certain amount. With the vast array of no-load mutual funds—and now ETFs—on the market, there is no reason you should be paying a sales commission on your fund purchase. Now, if you absolutely have to get into a fund that carries a sales load, many money managers have institutional privileges with mutual fund companies that allow them to get their clients into funds without paying the load. Of course, you must be a client in order to have the load waived.

2006 was the best year for equity investors since 2003. With potentially offsetting losses from the bear market years of 2000-2002 all but exhausted, however, many investors found themselves with taxable distributions from their investments at the end of last year. Knowing the record date, the date by which a shareholder must officially hold shares in order to be entitled to the dividend, allows you to plan a tax strategy and exit or hold your yield-bearing positions according to that plan.

I will open my financial statements within 24 hours of receiving them.

This is a small step that can dramatically improve your financial health in 2007. We’ve all put off opening our credit card, bank or broker’s statements at some point. Maybe the markets were down that month and we’re afraid of surveying the damage to our accounts. Maybe we don’t have the time, or perhaps we’re just not that interested. Well, it’s time to get interested. These statements contain your financial vital signs, crucial information about how much money you’re bringing in and how much you’re spending. It can be uncomfortable, particularly after the holidays, to come face to face with a hefty credit card tab, but the more information you have about your current financial position, the better able you’ll be to plan for your future.

I will never pay a credit card late fee.

Credit card late fees have nearly tripled over the past decade, and major card issuers now routinely charge cardholders up to $35 for missing a minimum payment due date. At the same time, grace periods are shrinking, down to an average of 20 days, from 27 in 1994. One way to avoid paying the late fee is simply to schedule an automated monthly payment, either through your bank or through the credit card issuer. Just be sure the amount covers your monthly minimum payment plus some of your principal.

I will keep proper records.

This one’s easy. You don’t need an elaborate filing system to keep track of bank, broker and credit card statements, receipts, and other important documents. For monthly statements and receipts, use an accordion-style file folder with a pocket for each month. Every piece of paper you touch in January goes in the January pocket, and so forth. For unique documents like stock and bond certificates, insurance policies, birth records and passports, keep originals in a fireproof strongbox or in a safety-deposit box at your local bank. Make one copy of these important documents for convenient reference.

I will review my bank and credit card statements for recurring charges.

Are you still paying $19.95 a month for that old dial-up internet account you never use? What about that gym membership? The beginning of the year is a great time to review your bank and credit card statements for those recurring charges that, let’s be honest, you may not even remember authorizing. Usually the item as it appears on your statement will contain a customer support telephone number or website. If not, then you may have to call your bank or credit card for further information. Cancel everything you don’t recognize or haven’t used within the past three months.

I will never buy a security I don’t understand.

This oft-repeated financial chestnut is really about understanding risk. It’s easy to follow the herd and buy what everyone else is buying when everyone else is buying it. That’s how most do-it-yourself investors operate, and that’s why so few of them manage to beat the market over the long term. Following the herd blinds us to the risk inherent in all investments. If you can’t articulate the potential downside of an investment to yourself—imagine you were explaining it to a friend at a cocktail party—then you shouldn’t buy it. And remember, just because you’re familiar with a certain type of investment vehicle, e.g., ETFs, doesn’t mean that all ETFs carry the same risk. An ETF of large-cap U.S. value stocks has a different risk profile than, for instance, a global energy fund.

I will develop a financial plan.

Where do you want to be in 30 years? In 10 years? At the end of 2007? Do you want to retire early? Go back to school? Send your kids or grandkids to college? By a vacation home? Most of us understand that maintaining our standard of living in retirement, leaving the workforce to pursue an advanced degree, or buying a second home requires some kind of financial plan, but few of us actually take the time to develop one, and even fewer put it into action. Why? Some of us may worry that getting what we want later in life will require extreme sacrifice now. Others simply don’t have the time to sit down and piece everything together, and still others may lack the expertise. But a financial plan can begin with a statement as simple as, “I want to retire in 5 years.” Starting from a single sentence and working backwards—with help from family members, friends, or a professional adviser—is often the best way to develop plan that will set you on a path to your goals.