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With the start of the new year, our Money Coach Bill Stanley said there are four things that will matter over the next 12 months.

First, everyone who works and pays Social Security will receive a 2 percent raise throughout 2011. Stanley said this is because the federal government is reducing the amount it is taking from our Social Security tax payment.

“If you make $50,000 a year, that's an additional $1,000,” he said. Because this money comes each paycheck, it will be a smaller amount depending on how often you are paid. “Do something with this money!” he said. “Don't just let it go into your checking account and disappear. And believe me, it will disappear if it is not assigned a specific task.”

The next tip: we should take responsibility for our money.

“I received an email from someone who read one of my articles,” he said. “She was having problems with money and asked if she should declare bankruptcy for a second time.

“My reply was straightforward. Life has its misfortunes – the flu, a broken ankle, reduction in force – but they have nothing to do with your own personal responsibility about money. The misfortunes just make doing what's right more difficult.

“It comes down to this: if you can't pay the rent, you take in a boarder or move in with relatives or worst case go to a homeless shelter. The point? You must not spend money you do not have. This concept of 'pay as you go' is something everyone should think about every time they buy something this year.”

Which leads us to our next topic: credit cards.

Stanley said credit card companies are sending out 10 times more offers this year over 2010, and mostly to those consumers who have poor credit.

“Please don't get a new credit card if you think you might not be able to pay off the balance at the end of the month,” he said.

There are two ways to stop receiving credit card offers, Stanley said. One is by visiting the OptOut Prescreen website and filling out a formal request or by calling them at 1-888-5-OPTOUT.

Lastly, Stanley said it amazes him what he learns from others. Sometimes the easiest thing we can do is simply think.

“I have a client on the East Coast who has a full-time, very demanding job -- yet she is involved in at least three other money-making ventures,” he said. “Sometimes she feels stressed. She advised me to do like she does -- spend 30 minutes each week thinking about money matters, and 30 minutes reflecting about life and the future. This is excellent advice -- everyone should do it.”

Bill Stanley and Money Matters airs every Tuesday on FOX21 Morning News.
If you have a question, contact him directly: MoneyCoachBill@aol.com