PALM Cove woman Bianca Millroy wants to better manage her finances this year and she is not alone.

More than 40 per cent of respondents to The Cairns Post's State of the Far North survey said better financial management was a top priority for 2013.

Miss Millroy, 20, who rents an apartment on her own, while studying and working full-time, said she wanted to save money for a deposit on an investment property while maintaining her independent lifestyle.

"The biggest struggle is planning ahead and knowing how to budget with what I'm being paid. I don't like to get behind," she said.

"But I also want to set myself up for the future and invest in property. I don't want to be stuck in the routine of renting. I think it's important to have assets.

"I think it's important to focus on something that will set me up over the next 10 years."

Horizon Financial adviser Mark Turnbull said he was not surprised at the large percentage of Far Northerners who wanted to sort out their bank balances this year.

"The Far North has experienced some difficult economic times recently so people's finances are a priority at the moment," he said.

"Uncertainty surrounding unemployment is a critical factor and every dollar counts. It's therefore logical that people take a heightened interest in their finances as they want to maximise every dollar they earn."

Mr Turnbull said kicking off the year with a financial plan was the best way to reap rewards.

"This is the time of year that most people have some spare time to reassess their personal and financial situations and a common New Year's resolution is to get your finances under control," he said.

"This can range from refinancing your home loan to get a better deal or be as simple as consolidating a few personal debts such as credit cards and personal loans."

Mr Turnbull's tips to better manage your finances in 2013 are:

SEEK professional advice. "A financial adviser not only assists in creating wealth and advising on tax-effective strategies but reviews your entire financial situation to either confirm your current strategy is correct or to highlight areas that are of concern and make recommendations to addresses these."

REVIEW annually. "People's situations constantly change, as do regulations and laws, (so) it is important to have at least an annual review to make sure that the advice is still relevant to your individual situation."

IN v Out. Conduct a thorough budget. "Most people think they know what their expenses and income are but when we sit down and conduct a proper budget (people) are amazed at how the bills add up."

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