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In Pictures: 12 ways to cut debt and build wealth in 2013

Financial resolutions that will set you ahead in the coming twelve months

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1.) Delete one present for your young kids, grandkids, nieces or nephews this holiday and substitute an RESP contribution.

Rebecca Ellis/iStockphoto

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2.) Use your tax refund to pay down your debts.

John Tomaselli/iStockphoto

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3.) Lock down a five-year fixed-rate mortgage where possible.

Chris Sadowski/iStockphoto

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4.) Plan for higher interest rates in your household budgeting.

Onur Döngel/iStockphoto

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5.) Recognize that the housing market is weakening.

Galit Rodan/The Globe and Mail

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6.) Stop basing your expectation on what’s going to happen in the stock markets in 2013 by looking backward.

iStockPhoto

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7.) Get back into the stock market - Option 1: Take the money you’ve been hoarding in do-nothing cash and divide it into four sections that you will invest in early January, April, July and October.

Peter Blottman/iStockphoto

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8.) Get back into the stock market - Option 2: Invest your cash all at once.

Nadezda Bugaeva/iStockphoto

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9.) Commit to judging your investing success not by how you’re doing a few months from now, but where you are in 10 years.

Tan Wei Ming/iStockphoto

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10.) Make saving money automatic: Put away as little as $10 per week - you won’t miss it.

Kris Hanke/iStockphoto

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11.) Buy a car, but finance it over five years at most.

Tom England

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12.) Ignore the bubbleheads - there is no bond or dividend bubble.

Haraz Ghanbari/AP

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