10 From GEM:
10 Ways to Financial Fitness


People seem to be the saddest around this time of the year, year after year after year. The bills from the holidays are coming in and those credit cards are increasing anxiety and the spending was excessive. A little more, just a little more put on credit won’t make a difference, I’ll start cutting back tomorrow. Well, tomorrow, in this case, won’t make things better when those interest payments increase with balances being carried over from one month to the next. In fact, if you look closely at your credit card statement, it’ll tell you how many years, yes, how many years it’ll take to pay off the cards if you only pay the minimum balance without any more charges. It’s years, folks, years, and not only that but what it’ll cost you in interest payments over the years is ridiculous. It’s money straight out of your pocket. You have to stop now. You have to face those bills head on and deal with them the best way possible.

It all begins with a plan of action. If you live with a partner, then sit down, and put all your debts out in the open. Be honest and reveal everything. From there, plan a course of action to get rid of the debt for once and for all. Let’s not keep making this expensive resolution year after year. Instead, tackle it head on. Begin with the smallest debts and lead up to the largest debts. Knock off the smallest debts first, while maintaining the larger ones, such as mortgage payments, student loans and car payments. Then look around at all you’ve amassed and ask yourself, “do I really need all of this?” Do you really need more? When you go out to the stores, do you buy on impulse? These are the questions you have to ask yourself, to stop the excessive, impulse buying.

We are here to help, with ten simple strategies to get you into the good financial fitness.


2. Pay Off Your Credit Cards

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Line up your credit cards in debt from smallest amount owing to the greatest. Pay off the cards with the smallest balances and for the rest, begin to pay more than the suggested monthly amount. When you've paid them off, determine which credit cards you really need and whittle it down to one or two cards at the most. Select credit cards which will give back some kind of reward and maintain paying the credit cards off completely when they are due.