Ms. Money said, “It’s a new year, and time for a makeover! Not the superficial beauty enhancements you hear about on occasion, but a personal financial makeover that will help you manage your money more responsibly and reduce your debt burden in 2011.”
Offering an overview of her makeover plan, Ms. Money suggested these eight great tips to getting your financial house in order:
Take inventory - in order to develop an effective strategy for your personal finances, you need to evaluate where you are as you enter the new year.
Create a budget - once you know where you really stand and how much you owe, it will be much easier to develop a realistic budget you can live with throughout the year.
Consider cash flow - when you are preparing your budget, be sure to consider when bills are due (now that you have your inventory in hand) and at what point you will have cash available to pay each debt.
Develop a credit card strategy - the most effective way to reduce your credit card debt and make it easier for you to reduce your balances is to pay off the card with the highest interest rate first.
Use cash - now that you’ve prepared a “makeover strategy” that can help you get your debts under control, don’t make the problem worse by using your credit cards again.
Take care of yourself - just because you are creating a new you doesn’t mean you have to sacrifice everything.
Be honest and a bit stubborn - just like cheating on a diet defeats the whole purpose, telling yourself it’s okay to blow your budget this month because you will make it up in the next thirty days doesn’t work either.
Enjoy the new you - following this simple plan can give you the new you you’re seeking in 2011.
For more information, contact InCharge Debt Solutions at 888-360-9694 or visit http://www.InCharge.org.
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Headquartered in Orlando, Florida, InCharge Debt Solutions (InCharge) provides professional credit counseling, housing counseling and personal money management education to consumers, and is a member of the Association of Independent Consumer Credit Counseling Agencies (AICCCA). InCharge is one of the unique nonprofit credit counseling and housing counseling organizations to be dually accredited by both ISO 9001-2008 Quality Standards and the Council on Accreditation (COA). Consumers can access InCharge Debt Solutions credit counseling services for free by calling 1-888-360-9694 or online at http://www.InCharge.org. For housing counseling services, call 877-712-6040.