You Can Make Financial Resolutions Anytime

The New Year often brings with it a desire to right the wrongs in yourlife. 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 willhave already made and BROKEN your financial resolutions. Those of youwho have not already done so, know they are hard to keep. You canchange that. Anytime is a good time to make financial resolutions.

Since you are thinking about this, you must suspect a problem. Thefirst step is defining the problem. Define it specifically. "I spendtoo 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 oflife's necessities here. You need to specifically target your problemareas.

The best way to identify problem areas in your spending, is to pullout your check registers and credit card statements for the pasttwelve months. Write down all checks and charges for items other thannecessities. 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 bestaggering, especially when done for a twelve month period.

Pay close attention to checks and charges for restaurants and fastfood chains. Look at the amount and frequency of payments toconvenience stores. Examine closely the spending on your home and yourcloset.

Using this information you become aware of your weaknesses and wherethey occur. You are now better equipped to overcome them. You need tomake conscious decisions to stay away from the places where youoverspend. If you don't go there you won't be tempted to waste yourresources and place your financial life in peril.

Now, armed with these bits of information you can boldly andsuccessfully make resolutions. Remember, changing your behavior is howyou will keep these resolutions. If you fail, and you will, just climbright back on the resolution wagon. Dogged repetition will help yousucceed. Check how you are doing on a monthly basis. Make anyadjustments needed.

Putting your financial house in order and becoming debt free is aprocess 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.