How to Improve Your Financial Health

By: AJAY11

Kenosha WI Your credit card debt is frightful. And your lenders all seem spiteful. Your checking account is lo okay enough of the holiday song parody. Regaining your financial health is serious business. For millions of Americans who are floundering in debt getting a grip on finances is a prime concern as we head into 2008. While you may feel as though youll always be saddled with money woes you really can dig yourself out of debt. If your New Years resolution is to improve your financial health the key word is resolve. You must resolve to make a plan and you must resolve to stick to itno matter how enticing those afterChristmas sales are. Is a new TV or new pair of boots worth losing sleep over Youve got to stay tough and stay focused.Here are five steps you can take to regain control of your finances and get back on track in the New Year.Five Key Steps to Regain Your Financial Health Assess your situation Make an honest assessment of your current finances. Determine how much money youre forking out each month. Dont forget to include expenses such as medications school lunches and dry cleaning. Decide where you want to be financially Setting goals will help you focus. Decide what expenses you can realistically cut daily mocha lattes, take out dinners etcto help create your action plan or roadmap for reaching your goal.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. If you dont have the money in your hands first, you wont miss it so much. You must be diligent about allowing your savings to grow. Explore your refinancing options If youre house poor refinancing a problematic loan could help ease your financial pain. Check out the governments FHASecure loan program Use Of Complementary Medicine you sign. Learn to manage the money you have now Money management is the most critical factor in building wealth learn to manage the money you have now regardless of the amountSteve Williams a selfmade millionaire, success coach and spokesperson for the Success Institute of America understands why so many Americans feel anxious about their finances He firmly believes financial health is about more than money. He says when people are under financial duress it affects all areas of their lives. Thats why its so critical to take action. And the New Year is a perfect time to start. Financial problems hurt more than your bank accountsays Williams. When you feel stressed about money that anxiety has a negative impact on all areas of your lifeyour relationshipsyour job and your health. I bet you lose sleep or you find yourself snapping at your family because youre so consumed with worry about how youre going to pay each bill. Because people are so receptive to the idea of making lifestyle changes at New Years its a prime time to capitalize on that energy and make some effective and long lasting changes.Williams says its 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. Simply taking that first step will instill a sense of relief. Once you pass up those first few temptations that would normally have you whipping out your credit cards youll feel good about yourself and yol feel your resolve growing even stronger. Youll reach a point where it feels good to stop spending senselessly

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