You Can Make Financial Resolutions Anytime
The New Year often brings with it a desire to right the wrongs in your
life. From this desire springs the tradition of New Year resolutions.
You should take advantage of this to change your financial situation. There is a good chance by the time many of you read this, you will
have already made and BROKEN your financial resolutions. Those of you
who have not already done so, know they are hard to keep. You can
change that. Anytime is a good time to make financial resolutions. Since you are thinking about this, you must suspect a problem. The
first step is defining the problem. Define it specifically. "I spend
too much money", is not good enough. You spend too much money on what?
Why do you spend too much money? It is not often you are speaking of
life's necessities here. You need to specifically target your problem
areas. The best way to identify problem areas in your spending, is to pull
out your check registers and credit card statements for the past
twelve months. Write down all checks and charges for items other than
necessities. This spending will be your gold to mine. After making this list, add up the total amount of these expenses.
This will be a very revealing exercise. For some the total will be
staggering, especially when done for a twelve month period. Pay close attention to checks and charges for restaurants and fast
food chains. Look at the amount and frequency of payments to
convenience stores. Examine closely the spending on your home and your
closet. Using this information you become aware of your weaknesses and where
they occur. You are now better equipped to overcome them. You need to
make conscious decisions to stay away from the places where you
overspend. If you don't go there you won't be tempted to waste your
resources and place your financial life in peril. Now, armed with these bits of information you can boldly and
successfully make resolutions. Remember, changing your behavior is how
you will keep these resolutions. If you fail, and you will, just climb
right back on the resolution wagon. Dogged repetition will help you
succeed. Check how you are doing on a monthly basis. Make any
adjustments needed. Putting your financial house in order and becoming debt free is a
process before it is an event. (C) David Wilding David Wilding has for the past ten years worked with groups and individuals to rid their lives of debt. Visit his website http://www.debtattack.com for more ideas, tools, and strategies to become debt free.
Related News
|
 |
|
|
RELATED ARTICLES
Bankruptcy - The New Scarlet Letter
Nathaniel Hawthorne's book The Scarlet Letter states in Chapter 2, "On the breast of her gown, in fine red cloth, surrounded with an elaborate embroidery and fantastic flourishes of gold thread, appeared the letter A." The letter A stood for the word adulterer and represented one of the worst insults in society. One would have thought that today we are a lot more civilized than 200 years ago, but unfortunately it is not true. Society has abolished the letter A alright, but it has latched onto a new one, the letter B, which stands for bankruptcy. People do not see it on their chest and think it does not affect them, but it does. Bankruptcy is as insulting and as damaging to one's financial, emotional, mental, and even physical well- being as any major failure or stigma.
Credit Card Debt Freedom is Possible
Credit card debt have you drowning financially? You're not alone. The average American household carries $9,205 in credit card debt, according to CardWeb, an online industry tracker. Not managed properly, this debt can come to eat up all of your disposable income leaving little or nothing for bare necessities. Some people in this situation respond by charging more but that will only get you further in trouble.
Selecting A Credit Counselor; Asking The Right Questions.
When you find yourself thinking about using a credit counseling service, you need to be very
careful. You need someone who will help you, not just some pushy sales associate who wants
only to sign you up for their service.
Is It Possible to Be Sued For My Debts?
It is possible for creditors and third-party collection agencies to use legal means as a way to collect debts. The likelihood of being sued or having your wages garnished depends largely on the creditor that is owed money. It has been my experience that certain creditors are more prone to legal action than others.
Bankruptcy As An Option
If your financial worries are preventing you from sleeping at night, then you may have considered bankruptcy in hope of a little relief. Usually, consumers only turn to bankruptcy if there is no other hope for them to get out of debt. Many have been to credit counseling and even consolidated their debt into lower monthly payments before they finalize their financial ruin in bankruptcy court.
Turning Bad Debts into Good Debts through Investing Fundamentals
If you've ever earned enough money to put some aside, like most people you've probably invested it with an eye toward security ? since, perhaps, you can't imagine yourself ever getting rich.
Repair Bad Credit Yourself
In March 2005, the U.S. financial services industry succeeded in hammering the first nail in their plan to overhaul the nation's bankruptcy system. Repairing bad credit yourself will be more necessary than ever. After contributing millions of dollars to elect Republican candidates sympathetic to their big money interests, banks, credit unions, credit card companies and major retailers have succeeded in making it more difficult to file for bankruptcy relief. About half of those filing do so due to medical catastrophe. You can still get help and repair bad credit yourself.
What Is A FICO Score?
Your FICO score or credit score as it's commonly called is a very important calculation that can control whether or not you are eligible to receive credit and if eligible the terms you can receive credit under. Failure to understand the impact this score can have on you future purchasing power and lifestyle can be disastrous. This article will break down all the information you need to know regarding your FICO score.
Assess Your Financial Attitude and Eliminate Your Debt Forever
Want to know if your attitude towards your finances is helping you or damaging your future? Take this Quiz and find out...
Yes to Less Debt
Feeling stressed by the amount of debts you have? Three
years ago Michelle was struggling on a nurse's salary. She
had run up huge debts with a number of court
judgments against her name. She longed to travel - a dream
that she kept telling herself was impossible. It was clear
to Michelle that she couldn't continue to run up debt, yet
on payday she would rush out and buy new clothes to cheer
herself up.
Craving For Financial Freedom
Have you ever felt trapped in a Rat Race and wished to retire quickly but rich?
Worried About Debts?
Having trouble paying your bills? Getting dunning notices from creditors? Are your accounts being turned over to debt collectors? Are you worried about losing your home or your car?
Bankruptcy 101
Bankruptcy still remains a mystery in the eyes of many consumers. This article will review the facts of bankruptcy as per written law.
Debt Handling Solutions
Sometimes debt can seem overwhelming. In those instances, or even before things get that far out of hand, get back to basics and try some of these debt handling solutions.
Hide That Car! Fighting the Repo Man
Vehicle repossession may appear justified in circumstances where a person is generally being irresponsible and otherwise able to meet this financial obligation. However, what about that hardworking guy or gal who paid their automobile note dutifully for three years, and missed one payment? Why should their car be repossessed?
What is Debt Settlement and How Does it Work?
Debt settlement involves negotiating with a creditor or creditors to pay off a percentage of your total debts at an agreed upon settlement amount. Often, people choose to utilize the services of a debt settlement company rather than attempting to do it on their own. Debt settlement companies traditionally employs various negotiation strategies to help settle your debts and can eliminate between 40-60% of your original balances.
The Effects of Consumer Debt
Consumer Borrowing
Learn The 15 Debt Elimination Steps You Must Take Immediately!
What Everybody Needs To Know...Learn The Truth About Debt Elimination in 2005!
The 5 Secrets to Getting Out of Debt Fast
As they stare down at a teetering pile of bills, so many consumers wonder how they racked up such a large debt. The answer boils down to simple mathematics.
Debt Collectors; And what you can do to Get Them Out of your Life
FTC opinion letter on validation Section 809(a) of the FDCPA, 15 U.S.C. § 1692g(a)
|
