Time for another finance tip. Yeah, not so fun, this finance stuff. But if we’re going to clean up our lives, we have to face all the aspects of healthy living. Finances are part of that.

So let’s haul out a notebook or open a file on the computer – and make a detailed list of all our debts. This is like taking a hard look at all the junk food in the fridge. It ain’t pretty for most of us. But we have to know where we stand.

List your mortgage(s), car payments, tax debt, furniture, medical bills, and those pesky credit cards. Next to each item, list how much you owe, and what the interest rate is.

Different financial wizards have different ideas about paying off debt – start with the highest interest rate, and pay that one down – or start with the smallest balance and pay that one off. Either way – make sure you’re making minimum payments on all of them. And choose a method of attack.

Need more help? Ask Coach CindyR for assistance on the member message boards.

Photo by Zsuzsanna Kilián

This entry was posted on Thursday, January 15th, 2009 at 12:53 pm and is filed under Budget & Finance, Organizational tips for home and life. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.