Determine How Much Money You' Re Forking Out Each Month

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New key steps to regain your financial health fast - kenosha, wi - your credit card debt is frightful. Your checking account is low... okay, enough of the holiday song parody.

And your lenders all seem spiteful. - regaining your financial health is serious business. If your New Year' s resolution is to improve your financial health, the key word is resolve. For millions of Americans who are floundering in debt, getting a grip on finances is a prime concern as we head into 200While you may feel as though you' ll always be saddled with money woes, you really can dig yourself out of debt. You must resolve to make a plan and you must resolve to stick to it - - no matter how enticing those after - Christmas sales are. You' ve got to stay tough and stay focused.

Is a new TV or new pair of boots worth losing sleep over? - here are five steps you can take to regain control of your finances and get back on track in the new year. Determine how much money you' re forking out each month. Five Key Steps to Regain Your Financial Health: Assess your situation Make an honest assessment of your current finances. Don' t forget to include expenses such as medications, school lunches and dry cleaning. Decide what expenses you can realistically cut( daily mocha lattes, etc, take out dinners) to help create your action plan or roadmap for reaching your goal.

Decide where you want to be financially Setting goals will help you focus. - pay yourself first if you have direct deposit, set aside a certain percentage from each check that will be funneled directly to a savings account. You must be diligent about allowing your savings to grow. If you don' t have the money in your hands first, you won' t miss it so much. Explore your re - financing options If you' re house poor, re - financing a problematic loan could help ease your financial pain. Make sure you truly understand the terms of ANY loan you sign. Check out the government' s FHASecure loan program and other re - fi programs for homeowners who' ve been sucker - punched by' creative' financing that' s taken an ugly turn.

Learn to manage the money you have now Money management is the most critical factor in building wealth. - steve williams, a self - made millionaire, success coach and spokesperson for the success institute of america understands why so many americans feel anxious about their finances. Learn to manage the money you have now regardless of the amount. He firmly believes financial health is about more than money. That' s why it' s so critical to take action. He says when people are under financial duress it affects all areas of their lives. And the New Year is a perfect time to start. "Financial problems hurt more than your bank account, " says Williams. "When you feel stressed about money, that anxiety has a negative impact on all areas of your life - your relationships, your job and your health.

Because people are so receptive to the idea of making lifestyle changes at New Year' s, it' s a prime time to capitalize on that energy and make some effective and long - lasting changes. " Williams says it' s important to start your roadmap for the future as soon as possible. "Carve out some time to sit down, grab all of your bills and outline your roadmap. - i bet you lose sleep or you find yourself snapping at your family because you' re so consumed with worry about how you' re going to pay each bill. Simply taking that first step will instill a sense of relief. You' ll reach a point where it feels good to stop spending senselessly. " Once you pass up those first few temptations that would normally have you whipping out your credit cards, you' ll feel good about yourself and you' ll feel your resolve growing even stronger.