When you lost control of your finances recently

Do you feel like you’ve lost control of your finances recently? Maybe you went overboard during the holiday season, or you’ve become lax in monitoring your spending.

Whatever the reason, here are some steps to reset your financial baseline in 2017.

Track your spending for the next 30 days
This exercise is as painful and time-consuming as it sounds. I’m listing it first because it’s the most important step. If you execute just one item on the list, do this. My wife and I did at the beginning of last year and we’re still seeing benefits.

The practice of tracking will make you more focused and frugal when it comes to spending money. You can compare it to a person tracking all of their calories or recording the weight they lift at the gym.

Assess all recurring subscriptions
Many people use at least one subscription service, such as a gym membership, styling subscription, wine club, meal delivery service, credit monitoring service or video streaming app. There’s nothing wrong with holding these subscriptions as long as you know how many you have and are receiving the value you expect. Ask yourself whether you’d join now if you weren’t already a member.

Save your annual raise
Often, merit increases go into effect and bonuses are paid in the first quarter. Make a habit of increasing the amount of your paycheck that goes to savings every time you get a raise. You can do this by increasing your 401(k) contribution percentage or the amount you send to your taxable investment or savings account.

» MORE: Best savings accounts

Renegotiate with vendors
This is a tactic from my experience in corporate finance. Every year, we’d list all of our vendors, assess the value of each and try to renegotiate better rates. We weren’t always successful, but our efforts always resulted in savings. I recommend you do the same with your personal vendors. Consider your cable, internet and phone service as a starting point and get more creative from there.