How to get out of Debt in the New Year!

So your niece is having a birthday day party and you don't have any money, but you get paid Monday. Do you write a hot check, get a present and take the kids to the party anyway? Defiantly NOT a good idea. There are several things you can do to help you prepare.

1. Get a calendar and get some birthdays down so you can be ready and not be surprised with financial stress.

2. Put money in a SAVINGS account for times when you need it, Ten dollars a week is as much as you spend on dutch bro coffees. Just stuff a little money away and see what you come up with!

3. Go to the Dollar Store and get a card and put 10.00 bucks in it for birthdays, Kids Love cash too, and all the little stuff adds up. You don't need to go to Walmart and spend 20-40 bucks on toys they with only play with for a week.

My son ended up getting about 60.00 on his birthday after it was all said and done from friends and Grandma. He was perfectly happy, besides all the presents he received from Tom and I.

Too many times we overspend for family and friends, when in fact we don't have much money, we have used up our savings and are using our credit cards to get by. Eventually you end up with too many bills and not enough income.

4. I will tell you what I have learned from my own financial mistakes, don't buy it if you don't have cash. So many times I didn't have cash and bought something for someone. I know you want help others and be there for family, the truth of it all is you still can! You just have to make a few sacrifices, for a time.

5. Get your bills organised and pay on time to get better credit rating. With a better credit rating you and get one loan to pay off everything.

Here are three more steps that can get you back in the plus signs for cash flow FAST! but you have to stick with the program and that's the hardest part.

1. Take some time and call all your credit cards and tell them you want to lower your APR and make payoff payments. Tell them that you are in a "financial hardship". Those are KEY words.

2. Once you have lowered your payments figure out what you have saved and deposit that money and get at least 500.00 in your savings, if you get hurt or have to go to the Dr. you will need something! This is key you have to pretend you are in the same fix you were before you just saved yourself about 200.00 per month.

3. Pay off the small amount owed on one of your credit cards, after you pay it off use that money to pay off the next one and so on. I know it is hard knowing the extra cash could buy you other stuff but you have to pay the cards of first, then reward yourself after you have finished, and buy with cash. Don't close all your cards out...keep a couple paid off but open to buy. Just don't buy with them. I made the mistake of paying some of mine off and then closing them and it lowered my credit score, so don't close them all!

I have so many more financial things to tell you.. I will write again soon.

Please check out Ramit Sethi on my links below he's a hot new finance guy who has some great information for you!

.HAPPY NEW YEAR