Out of those setting financial resolutions, 77 percent said they lost their focus of those goals

after one to six months into the New Year, and all

eventually contacted CCCS for credit counseling.

"The beginning of a New Year is a great time

to commit yourself to improving your financial

life," said Suzanne Boas, president of

CCCS-Atlanta. "But it's easy to become overwhelmed by

money matters as the months wear on. If folks make

a resolution to conquer debt, they need to put

some serious muscle behind it in the form of a

realistic action plan."

The counseling service offers these tips to

help get your personal finances in order:

· Keep a record of daily expenditures for

one month. Track your family's spending habits for

30 days to assist in identifying where your money

is going. Specialty coffees, vending machines and meals eaten in restaurants can drain your cash flow.

· Create a spending plan. Determine

monthly living expenses, periodic expenses and

monthly debt payments. Compare expenses to monthly

net income. Don't allow expenses to exceed your income. Keep your total indebtedness clearly in

your mind.

· Set specific financial goals. Determine

short, middle and long term goals. A secret success is

to make goals realistic. Another secret is to keep

them simple. If they are too complicated, the details

may become obstacles.

· Paying off debt. You will get out of debt

faster if you increase your monthly payments to

creditors, even $5 to $10 more each month added to each

credit card can make a noticeable dent in your debt

over time. Subtract your essential expenses from

your income and see what may be available to

increase payment amounts.

· Start saving more. Begin to save for

periodic expenses, such as car and home maintenance.

Save five to 10 percent of your net income. Try to

accumulate three to six months salary in an

emergency fund.

· Be patient and reward yourself. We

develop habits over a period of time. It requires more than

a casual approach to modify, improve or change behavior. Research indicates that it takes about

21 repetitions in order to change a habit.

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