Getting Out of the Red..

Stress. Sleep problems. Anxiety. Burn-out. Credit card debt.

Any of these words ring any bells? Maybe a little too loudly?

Having been $10,000 in credit card debt 4 years ago -- yea -- ten thousand dollars, I know that feeling in the pit of your stomach when the mail arrives each month.

That, "Oh. Not another one", feeling.

While I was at a 'dealing with debt' seminar last month I had the fortunate opportunity to meet some folks. Talk about being friendly, both the guests and speakers alike!

One thing that seems to always come up when I'm around a similar group to this, is:

1. "How do I start to get out of debt..?"

I got asked this a few times in New York. It's always the same answer I give:

Get a Diary!

I'm serious.

...

How will that help you? Read on..

A girl I met at the event, named Anne, a tall southern girl with a family of three, told me she was having bother with credit card debt. After prodding a little more and asking a couple questions, I recommended she get herself a hold of a small diary.

She looked at me like I had 2 heads (happens every time :) when I made the suggestion, but after explaining it a bit more, quickly realized the idea could help her out.

The rules for your own diary is simple:

First rule: Detail EACH of your current living expenses.

Second rule: Be ruthless.

Third rule: See second rule.

...

It's slightly more complex than that, but not that much. Pop down to your local supermarket or hardware store (I always recommend "Walmart" since you get a whole lot of value here) and get yourself a diary.

Whichever one pickles your fancy. I'll wait.

Good. Now, get your family huddled into the front room (Yes, get them all involved too!) and list all your CURRENT living expenses. Everything from the sugar for Dads cup of coffee in the morning, to little Alice's Diapers, to the electric bill each month. Write it all down.

Now, take out a black marker, and get each member to go down the list, putting a cross next to the things you can each live without.

Remember: Be ruthless.

Don't sweat it out too much. If your mind pops up with something later, you can always add it on.

Right, pick one thing from the list -- only one -- that you've decided to get rid of. And actually GET RID of it. Do it. Actually implement what you've decided to stop eating/watching/playing? and take action.

How hard was THAT? Eh?!