For the past few months the number of people who have called me about drowning in debt is overwhelming. Many of them are struggling to make ends meet. My first suggestion is to do a budget, then I ask them to look at which expenses they can reduce or totally eliminate. When was the last time you sat down and looked at your income versus your expenses? Take a little time and track your spending for a month or two. You may be surprised to see exactly where you money is going.
Lisa Rogers-Cherry is the author of Lifting the Burdens of Debt:A Helpful Guide to Getting Your Debts Paid and Your Life Back on Track (2005; $14.95). Lisa writes monthly financial tips for www.bloggingblackmiami.com and writes articles for various newpapers and magazines. If you have a question or for more information go to www.redpenpress.com, e-mail her at Lisa@redpenpress.com, or write Lisa Rogers-Cherry, Red Pen Press, P. O. Box 1196, Dania Beach, FL 33004.