IT'S THAT time of year again when we are full of good intentions. But as well as pledging to go to the gym or give up smoking, what better way than to bring in the new year than getting your finances in order. So, here are The Sunday Herald's top 10 ways to get off to a wealthier 2008.

1. Get debts under control MOST of us take on far too much debt - and we don't always manage it very well. Store cards, for example, are tempting at the till but can seriously damage your wallet with interest rates higher than 25%.

So cut up your costly cards and switch the debt. A number of card firms charge a low rate of interest - or no interest - on any debt you switch from another card. Virgin Money, for example, is charging 0% on balance transfers for 15 months. Or you can pay no interest on balance transfers to a Mint card until March 1 2009. Just watch out for balance transfer fees, which can be as high as 3%.

If you are in big debt trouble, you might want to consolidate the money you owe into one personal loan. Banks and building societies often cut their loan rates in the new year, so you might be able to find a rate as low as 7%, depending on your credit history. Julia Harris of Moneyfacts says: "The advantage of a personal loan is that you have an agreed interest rate and monthly repayment, both of which are fixed for the full duration of your loan agreement."

Beware lenders pushing payment protection insurance with the loan, however, since the premiums can often work out to be expensive. If you want to take out some insurance to cover the debt, get a quote from an independent firm such as Payment Shield or British Insurance.

Anyone with severe financial problems should not suffer in silence - or alone. You can seek free confidential advice from your local Citizens Advice Bureau or telephone the National Debtline on 0808 808 4000.

2. make the most of the mortgage A mortgage is a debt much like any other - only bigger. If you are paying a high rate, you could switch to a cheaper deal and save thousands of pounds in interest. You might have to pay a penalty to switch, but it can still work out cheaper.

If you are stuck with your existing lender, you might be able to overpay your mortgage. You can reap a big reward with even a small overpayment. For example, if you had a £100,000 mortgage at 7.5%, you could cut the term of the loan by four years and save over £22,000 if you overpaid by just £50 a month, according to figures from the Halifax.

3. sort out your savings If your debts are under control, it's time to sort out your savings. Experts recommend that you stash away an amount equivalent to three to six months' salary for emergencies. The rates on some savings accounts have come down following December's cut in interest rates, but you can still get a good deal of 6% or more, especially if you are prepared to save online.

Savers who can commit to putting aside money each month can also earn high rates of more than 7% in a regular savings account.

4. take the tax perks There's no point in paying more tax on your savings than necessary, so make the most of individual savings accounts (Isas). Cash Isas work just like savings accounts except they are tax free. You can also take out an equity Isa that invests in stocks and shares.

There are limits, though. You can save up to £7000 each tax year, either by investing up to £7000 in an equity Isa, or a combination of up to £4000 in an equity Isa and £3000 in a cash Isa. The allowance goes up to £7200 on April 6, of which up to £3600 can be saved in a cash Isa.

5. switch to a better energy deal The average energy bill now stands at £912, according to uSwitch,com, the comparison website. However, consumers could save up to £325 a year by switching to a better deal. Ann Robinson, director of consumer policy at uSwitch.com, says: "The golden rules of switching are: move to dual fuel, where you get both gas and electricity from one supplier; pay by direct debit and sign up to an online plan. These three simple steps could save you time and money."

6. make your current account work harder A number of current accounts these days pay high rates of interest on credit balances. You can also get a good deal on overdrafts. Alliance & Leicester's Premier Direct current account is a consistent best buy. The credit interest rate is 6.31% on balances up to £2500. You also get a free overdraft up to £2500 for the first 12 months. You then pay 50p a day up to a maximum of £5 a month.

7. pick up a pension It's easy to forget about pensions - but it's not a wise financial move. They offer decent tax perks and are still one of the best ways to save for the future.

It almost always makes sense to join a company pension because you normally benefit from employer's contributions. If you don't have access to a company scheme, you should think about setting up a personal pension. You will probably need some financial advice, so arrange to speak to a qualified independent adviser who charges a fee rather than commission. The website of the Institute of Financial Planning www.financialplanning.org.uk will let you search for a certified financial planner. Or you can contact the institute at www.unbiased.co.uk.

8. protect your identity Identity theft is one of the fastest growing crimes - and that was before the recent government mishaps over our personal data. But you can take steps to protect your details from the fraudsters. Experts recommend that you shred all documents that carry personal information such as credit card slips. Don't carry your driver's licence or passport with you unless it is absolutely necessary. Check your bank statements regularly for any suspicious activity and take care with passwords. You should never give away your password or Pin number to anyone. Don't use the same password or number for all your accounts and don't choose anything obvious, such as your date of birth or mother's maiden name. Jill Stevens, a director at credit checking firm Experian, has another tip: "If you stop receiving mail, contact the Post Office immediately - the most common way to steal identities in this country is to intercept your post."

9. take cover Household and car insurance are set to rise in 2008 so don't automatically renew your cover with your existing insurer. There are a number of comparison websites that help you to compare quotes including www.confused. com, www.insurancewide.co.uk and www.moneysupermarket.com. You can also switch your life insurance, so it's worth checking out the premiums. But always read the small print because a cheaper policy might provide flimsier cover.

10. where there's a will Take some time to write or update your will. It can help you put your finances in order - and also save inheritance tax.

The Financial Services Authority (FSA) has published a free guide to managing your money. The guide is available from www.moneymadeclear.fsa.gov.uk or by calling the FSA's consumer helpline on 0845 606 1234.