Pay yourself first .

The key to saving is discipline. Perhaps the best

strategy for achieving your financial goals is to

automate your savings plan. Have $100 (or whatever sum

you're comfortable with) taken out of your paycheck or

checking account each month and put into a money market

or mutual fund. This pay-yourself-first strategy works

infinitely better than settling for saving whatever, if

anything, is left over at the end of the month.

Reduce debt . Whether

you've each brought your share of debt into the marriage

or have built up a large credit card balance together,

it's time to come up with a plan for reducing debt. If

you find you can pay only the minimum due on your credit

card bills, try trimming a couple of items in your

monthly budget, like dinners out and movies, and use the

savings to pay down debt.

You also might consider

consolidating your credit card balances onto the card

with the lowest interest rate or taking out a home equity

loan to pay off your credit card debt. For many couples,

putting the roof over their heads at risk with a home

equity loan is a step they take only as a last resort

- squeezing savings out of your budget or taking out

a personal loan are safer alternatives.

Update your insurance .

Couples - young and old - should review life,

disability, medical and property insurance needs at

regular intervals. Two-income couples should compare the

health care coverage their employers provide and decide

whether it makes sense to maintain individual coverage or

switch, as employee and dependent, to the plan with

better benefits.

If you were single (or

married to someone else) when you bought your life

insurance policy, you may need to update the policy's

beneficiary designation to reflect your new status. And

remember to check the beneficiary designations on your

retirement and pension plans and update them as

necessary. You might still be carrying your ex, or your

deceased Great-Aunt Tillie, as your beneficiary.

Invest for the future .

Remember that it's never too soon or too late to save for

retirement. One of the best strategies is to put the

maximum amount possible into your employer-sponsored

retirement plan. Most young newlyweds should consider

investing a substantial proportion of their portfolios in

stocks, which tend to offer higher yields than bonds or

cash over the long term.

Improve your financial

literacy . Read the money and business sections of

your newspaper, subscribe to a personal finance magazine,

or take a personal finance course at your local high

school or community college. You also can find a wealth

of financial educational material and advice on the

Internet.

Draft or revise your

will . When you die without a will, the state

determines who gets your assets. If you and your spouse

don't have wills, have them drawn up. If your wills have

been in place for a while, review them to determine

whether they should be updated to reflect any changes in

your life status.

Make tax planning a

year-round strategy . Keep taxes in mind throughout

the year as you plan your overall financial strategy.

Take advantage of every opportunity - from income

shifting to using a tax-deferred retirement plan, from

bunching deductions to offsetting capital gains - to

save valuable tax dollars. Remember, every dollar you cut

from your taxes is another dollar you can put toward

achieving your financial goals.

The GSCPA is the premier

professional organization for CPAs in the state of

Georgia. With more than 9,800 members throughout the

state, the purpose of the GSCPA is to promote the study

of accountancy and applicable laws, provide continuing

professional education, maintain high ethical and work

standards, and provide information about accounting

issues to the membership and the public. For information,

see the GSCPA web site at www.gscpa.org