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According to financial expert and television commentator, Jean Chatzky, there are several financial lessons from 2011 to be aware of as we move into the new year. Here are a few of Chatzky’s favorites:

• Don’t obsess over the news. Negative economic news, such as the debt-ceiling debacle and the Eurozone crisis, created substantial market volatility, which plays with our emotions and makes us act impulsively, says Chatzky. Remember, she advises, the market rewards those who stick around for the long-term. A recent study by Fidelity revealed that 401(k) accounts are almost back to pre-recession levels—but only for those who didn’t back down and stop contributing. If the headlines are bad, turn off the TV, says Chatzky, and avoid the temptation to tinker with your portfolio.
• Take control of your finances. While negative news and the financial market are out of our control, we always have control over our own finances, including how much we spend, and more importantly, how much we save. If you haven’t already, says Chatzky, automate your savings and watch your money grow. This is the ultimate sense of control.
• Limit what you borrow for college. Student loan debt will reach $1 trillion for the first time ever and college tuition is soaring faster than inflation, so Chatzky advises college-bound students and their families to be careful about what—and how—they borrow to avoid ending up in a default situation.
• It’s never too late to get on track. Chatzky stresses that it doesn’t matter how old or young you are—if you’ve made financial mistakes this year, pick yourself up, dust yourself off, and make a plan that will put you back on track, whether it’s saving $10 a day or finding a better-paying job. Options are always out there for the taking.