FMOOD 0134: Getting a Handle on Things - a podcast by Tom Merlino | Tom is inviting you to follow him on his journey to get out of debt and get into prosperity.

Are you feeling overwhelmed? Does most of your financial life seem to be spinning out of control? Do you find yourself burying your head in the sand and hoping that by some miracle everything will just go away?

 

You're not alone. However, keep in mind that it's critical for us to get a handle on things first and foremost. We have to realize the importance of this, and we have to attend to whatever is going on that is causing us to feel overwhelmed and out of control. Those circumstances won't change, regardless of whether we choose to bury our heads in the sand or not.

 

Getting a handle on things begins with the budget. This is the core and center of everything financial. You'll want to start by collecting all of the bills and organizing them into separate piles for each separate amount owed. If you have duplicates, keep them all together in the same stack. You're doing this to get a visual perspective on the job that you have ahead of you in order to get these bills into your budget to eventually be paid.

 

This may require that you make some phone calls. You need to make promises to pay these folks and stick to the deadlines that you set. Ideally, you'll want to do this before your bills go off to collections. If you've missed the mark and you now owe to collection agencies, you'll do the same thing and categorize those bills into their appropriate stack. Once agreements have been made, now it's time to put the plan of action into the budget and discard all of the duplicates, keeping only the one copy that is the most current. Put these current copies of your bills into a folder or on your desk in a neat stack. This is what you'll be focusing on paying off, and you'll immediately feel more organized without multiple copies of the same bills in front of you.

 

While getting out of debt is super-important, it's even more critical to get current first. You're making a plan to keep the debt collectors away as well as tending to anything else that may distract you from your focus to get out of debt.

 

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