The next few weeks will see Canadians making – and for some, breaking – New Year Resolutions, ranging from eating better to quitting smoking. While improving physical fitness is an excellent goal, they should also try to get financially fit.

To that end, the Ombudsman for Banking Services and Investments has offered up a Top Ten list of financial resolutions for Canadian consumers of financial services.

“With this list, we hope Canadians take charge of their financial well-being in 2011 as well,” said Ombudsman Doug Melville. “Time and time again, we see the same sorts of financial complaints coming in the door. Many of these issues would be mitigated or even avoided altogether if everybody adopts these simple resolutions.”

OBSI recommends:

  1. Read everything you sign: Few people bother to read in full every document they sign. They should. Understand what you are signing to avoid nasty surprises down the road.
  2. Ask questions: Knowledge is power. If something isn’t clear to you, ask for more information or clarification. If you still don’t understand, bring along someone you trust so you both hear the explanation.
  3. Keep records: The individual or institution you are dealing with will have a record of their interactions with you. So should you. Take notes of important conversations, confirm instructions in writing, and keep copies of everything.
  4. Save your money: Set aside a portion of your income each month for your retirement and unforeseen events. Life is full of surprises; have a contingency fund in place for the unpleasant ones.
  5. Review your account statements: Carefully review all account documents sent to you each month, whether by mail or electronically. Report any errors or suspicious activity immediately; if you wait too long, you might be held responsible.
  6. Safeguard personal information: Keep your financial documents in a safe and secure place. Shred all personal financial information that you no longer need so the bad guys can’t use it.
  7. Plan ahead: Have a financial plan so in the future you can live the life you want. Don’t be caught unprepared in later years.
  8. Make a will: They say that the only things certain in life are death and taxes. No matter how old you are, make sure that you have a valid and updated will. If you don’t, you lose control over where your wealth goes. Don’t let lawyers or the government make the decision for you.
  9. Create a Power of Attorney: Regardless of your age, have a valid power of attorney in place in case you become unable to manage your own affairs. By doing so you can prevent heartache for your loved ones should something happen to you.
  10. Speak up: Most banking services and investment firms want to do the right thing for their customers. If you have a concern or complaint, don’t be afraid to let your financial services firm know. If they can’t make things right for you, know that there are other places where you can go for assistance, like the Ombudsman for Banking Services and Investments.