11 must dos for 2011

1. 11 “Must Do’s” for 2011 Welcome! Presenter: Jan 2011

3. New Year’s Resolutions… Every New Year's Eve, millions of people make a resolution to spend less yet, despite the best of intentions, many will not take the steps to really make a change in their lives. Sometimes just small actions are required to get people on the right track to financial security.

4. Here are 11 Financial wellness steps for 2011

5. #1. Pay yourself first! Every month put a little money aside before paying any bills. Start small with as little as $5 or $10 out of every paycheck and stick with it. It's not so hard to find the money; just give up one gourmet coffee, or late night trip to the fast food restaurant. Remember, it’s not so much about how much you save, instead it’s about establishing the healthy habit!

6. #2. Reward yourself! Motivate yourself to save. For example: estimate how much it will cost you for a night out on the town. Then keep track of the money you save by taking your lunch to work until you've "earned" your evening out and can enjoy it without any guilt or sacrifice.

7. #3. Cheer on your team! Expenses are a family affair and it's time to get everyone on your team involved – including the kids! Huddle and define your financial goals such as buying a TV, replacing an appliance, going on vacation or saving toward college tuition or retirement. Create a game plan for achieving your goals and review it periodically through the year to make adjustments.

8. #4. Get it together! At a minimum, organize your bills, bank account statements and tax documents. A carton, file system or expanding file can become your personal financial assistant. Being organized will: save you time in locating important documents so you can address any discrepancies end confusion over how much money you have alert you to possible extra fees for late payments and account overdrafts

9. #5. Order your credit report! It's free and it's as easy as logging onto www.annualcreditreport.com, a service created by the three major nationwide consumer reporting bureaus (Equifax, Experian and TransUnion). You can get a free report once a year from each bureau to review. Report any errors to the reporting bureaus with a highlighted copy of the report, a letter explaining the error and any supporting documents that prove your claim.

10. #6. Information is power! The first step to taking control of your financial situation is knowing exactly where you stand. Open your bills when they arrive and check your monthly bank statements. If problems arise, don't avoid them. Gather your information together and meet them head on.

11. #7. Save a dollar a day! A dollar may not buy much today but $356 will, and that's how much you'll have by Dec. 31, 2011 if you save just $1 a day. You can save $5 to $30 per week at the grocery store by using coupons. That's nearly one month of $1-a-day savings in just one trip to the store!

12. #8. Pay bills on time! The largest factor in determining your credit score is whether you pay your bills on time. Therefore, the best way to increase your credit score is to start paying your bills on time – each and every month.

13. #9. Do the planet and your wallet a favor! Be more energy efficient and help the environment while saving on fuel costs. Invest in rechargeable batteries and energy efficient appliances and lighting. Plan your week so that you can run several errands at once rather than taking the car out on several trips.

14. #10. Be prepared! No one wants to think about getting sick, losing a job, facing a fire or eviction, going through a natural disaster or lots of other terrible things that could happen. Make 2011 the year you plan for the worst with an emergency fund and evaluate your insurance coverage. A rule of thumb for an emergency fund is to save enough for three months of living expenses.

15. #11. Reduce your debt! New federal regulations for credit cards require billing statements to disclose just how long it will take you to pay off your debt if you make only the minimum payment. If you need help getting your debt under control consult a certified credit counselor such as American Debt Counseling. If you are already in a debt management program, stick with it and 2011 will be a year that brings you closer to becoming debt free!

16. For more information contact: American Debt Counseling, Inc. A 501(c )(3)non-profit Credit Counseling Organization 14051 NW 4th Street Sunrise, FL 33323 www.americandebtcounseling.org 1.888. DEBT USA