Personal Finance for 2017

ABC News' Rebecca Jarvis reports the latest money news for the new year.
3:09 | 01/01/17

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Transcript for Personal Finance for 2017
Let's talk money. The start of the new year is a great time to take a look at your financial picture. Here now with some advice is ABC's chief business and economics correspondent Rebecca Jarvis vis. What's the first move we should be making as we head into 2017. Check your credit report. This is really important because the number of hacks that we have seen last year. There were so many high profile hacks and what can happen when these criminals get information about you from your Facebook page information to the things you put in accounts, they can create new accounts under your name without your knowledge. The only way in some cases you're really going to know about this is if you go over that credit report with a fine tooth comb. You can find a free one at Going digital? Yes, there's so much paperwork as you know when it comes to your finances and you can move most online. Now banks all have apps. Many banks you can bank through the app. You never have to visit the location if you don't want to. You can move so many of your accounts online with things like It just gets rid of a lot of that clutter in your life that distracts you and keeps you from earning and growing your money. But when you go digital doesn't it create digital clutter, clutter in your in-box? Which you can also get rid of that. Unsubscribe. Over the holidays you might have done shopping online perhaps and used your e-mail address for that shopping. You should unsubscribe for there. That will allow you to not have the clutter and also keep you from spending money you don't want to spend. And what about credit card debt and looking at ways to deal with that? Because that's a huge problem for so many people. Huge problem. Annual balances on a credit card in this country is over $5,000. The number one thing for people to do is obviously to pay them down. We know that interest rates are going higher which means that credit card balance will continue to grow faster and faster in the year ahead. There's great ways to look at new credit cards. Because the credit card you have might not be the best for you. Are you paying a fee? Getting the rewards you should be getting? will help you look at all the credit cards to determine what's right for you. I loved to have been in the room when they came up with that name. What about 401-k's. It's important you max out that 401-k. If you're not doing that, if you're not taking the full match, you're leaving money on the table. So max out the 401-k. Do it at the beginning of the year and spend the rest of the year increasing your money hopefully. Planning for retirement. Thinking about living on a yacht. Living 10% happier in retirement. Thank you very much. Thank you. We have said this a time or two, but I think New York City,

This transcript has been automatically generated and may not be 100% accurate.

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