SOURCE: National Foundation for Credit Counseling (NFCC)

National Foundation for Credit Counseling (NFCC)

January 24, 2011 15:34 ET

Decreasing Debt Voted #1 Financial Goal in 2011

NFCC Shares Tips on How to Get a New Start in the New Year

SILVER SPRING, MD--(Marketwire - January 24, 2011) -  In a national survey by the National Foundation for Credit Counseling (NFCC), more than 70% of participants responded that decreasing debt is their #1 financial goal for 2011. The New Year offers a fresh start; not only to get a handle on outstanding debts, but to begin thinking about a smart financial future. In an effort to assist consumers in following through with their financial resolutions, the NFCC is sharing tips on how to take charge of your personal finances this year:

  • Define your objective -- Be specific about which area of your financial life you want to address. Having an overall goal of improving your financial situation is too broad. Success is more likely if you identify one problem and take the necessary steps to rectify it.
  • Be willing to pay the price -- Be prepared to make lifestyle adjustments to reach your goal, and know that the sacrifice will be worth it.
  • Be ready for set-backs -- When the going gets rough, don't give up your goal. Set-backs are inevitable, so anticipate them and commit to riding them through.
  • Have an accountability partner -- Share your goal with a trusted friend, family member or mentor, and ask them to provide the support that will help you stay on track.
  • Celebrate your success -- Establish a reward as you begin your financial journey. Keeping your eye on the prize can serve as a great incentive to keep going.

"Resolutions typically come and go. No one ever intends to make one only to break it. But nonetheless, that's what so often happens," said Gail Cunningham, spokesperson for the NFCC. "The above five steps can go a long way toward reaching your financial goal, putting you in a much better position at this time next year."

Visit http://www.nfcc.org to learn more about managing your finances in 2011. For even more financial tips, advice, and updates check out the NFCC on:

The National Foundation for Credit Counseling (NFCC), founded in 1951, is the nation's largest and longest serving national nonprofit credit counseling organization. The NFCC's mission is to promote the national agenda for financially responsible behavior and build capacity for its Members to deliver the highest quality financial education and counseling services. NFCC Members annually help four million consumers through close to 830 community-based offices nationwide.

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