Every day people break through the to the unseen world of credit by getting first time credit cards. To some of us, this is arbitary. Most of us have credit cards and use them everyday. but most of us, don’t use our credit cards to help us organize our financial life and better ourselves. we use them to fulfill our buy now pay later mentality, and let’s face it, this has a very bad effect on our lives. wouldn’t you agree?This year I am making my New Years Resolution to do a couple of things that all work hand in hand. This is The first time I am doing this. My credit is beyond bad and my credit cards have very low limits on them.1) Keep better track of my finances. Every day of my life, I spend money. even if it is 5 or 10 dollars for lunch. But what i don’t do every day, is write down how much I spend. why? because it’s annoying. this year, I will write down every single dollar I spend on a white board. It will be easy. i will simply save all of my receipts, and put them in a shoe box under the white board. and when i feel like it, I will go through them and write them on the board. this way I can see what I spend. 2) I will pay off my credit card and have it be my sole use of finance. This way every dollar I spend is recorded not only on my white board, but on the credit card statement i receive through email, and i can view it at any time. At the end of every month, I will pay off my credit card in full. My credit card only has a 500 dollar limit on it, so it will be very easy not to spend beyond my means.3) I will also write on my white board exactly what I spent my money on. So this way, when I am looking at it, i will say gee, I really didnt ned that kit kat bar, or those cigarettes, and I will essentially be ashamed for spending money that I didn;t need to, because it will be staring me in my face every day.I have started a blog for my program, and will record my spendings publicly. I invite all of you to join me, as of course this will  work if we follow through on it. Anyone who wants to better themself financially should join me, because we are products of our enviornments, and if we all are working on the same thing, naturally together we can become smarter financially. Happy Holidays Everyone, and Here’s to a Happy and successful New Year!

Here’s some other ground breaking tips. Of course, these don’t have to be done in any particular order!Just pick one or two that particularly apply to your situation.* Create your 2010  filing system. This might include new file folders, a new box to hold them or space in a filing cabinet with easy access. * Set up a folder to collect all the important 2003 tax documents which will be arriving soon. Sure to arrive at your house are W-2s, 1099s, mortgage statements, etc. * Set up an appointment with your tax professional early so you get the appointment of your choice. This also gives you a deadline to get your information ready! If you’re self-employed, the next quarterly estimated tax payment will be due on January 15.

* Review last year’s investments especially in your 401(k), IRA’s etc. Find out what financial planning resources your company or 401(k) plan administrator offers and set up an appointment to talk to them. For non-company portfolios, talk to your investment advisor. You have until April 15 to make contributions to IRA type accounts (check with your tax preparer for eligibility).* What about Quicken or Microsoft Money? If you don’t use software to balance your checkbook, pay your bills and keep track of your savings and investments, this is a great time of the year to get started. My personal favorite is Quicken and for small businesses, you might consider Quicken Home and Business. If you are a small business with Payroll needs, check out QuickBooks.* Medical Insurance reimbursements. If you haven’t submitted all your medical bills to your insurance provider, now is the time to do so.

* Will and Estate Planning. No one likes to think about dying, but the best thing you can do for your family is to make sure they are taken care of by creating a will and making sure you have adequate life insurance. Think how easily you’ll sleep knowing you have provided for your family even if you are no longer there.* Speaking of insurance… If you haven’t reviewed your health or home and auto policies in the last couple of years you might find you can save money and/or have better coverage. For example, if you still have a $250 deductible (which was my first deductible in 1979!), you will probably save by increasing it to $500 or $1000. Try to set aside some of your savings for deductibles in case you need them.* Create your own Anti-Emergency Fund! We all know those car and home repairs, school fees, medical expenses and vacations are going to happen. Why not determine how much you’ll need and save 1/12 of it each month? To read more go to: http://www.phelps-creek.com/archives/Anti-Emergency.htm.* Holiday Bonus or Money Gifts If you received a financial gift this holiday season, hold on to it for at least 30 days while you decide what you really want to spend it on. All too often financial windfalls are spent before they even arrive. Consider dividing it into thirds: 1/3 to the past, 1/3 to the present and 1/3 to the future. Past might include paying down debt, present could be something you need or want now and future could be retirement, college savings, or a special vacation  Financial Goals for next year. Think about where you want to be next year at this time financially. If you want to save $1000, put aside $2.74 each day and you’ll be there! Break down your financial goals into monthly, weekly and daily amounts and watch how quickly your savings will grow. Read more about it at: http://www.phelps-creek.com/archives/PDQFactor.htm.

Of course good credit is essential to living a stable financial life. connect to my blog and check out some articles regarding credit in my press room and on my blog!Happy New Year!!!!!