Digging Out of Debt
Stacy Case

  In Tonight's Saving
You Money report,  I'm helping you keep your New Year's resolution to
get out of debt.  The Fiscal Cliff deal still raises the payroll tax
which means we'll all have to plan ahead for smaller paychecks.  One way
to stay motivated while digging your way out of debt is to focus on
what you'll do with your debt freedom.  Maybe you'll take a  vacation,
or buy a car or a home or just a pair of shoes.  Plaster pictures of
your debt free wish around your home or office to keep you focused.
  
Next, replace habits like compulsive shopping.  Some of us do this to
deal with anger, frustration and stress.  Instead, try physical
activity, even running.  This will help boost your mood with an
endorphin release just like shopping except it's free.
   You could
also chart your success with a visual.  Every time you pay off a credit
card, cut it up and save the tiny pieces in a container.  It's
encouraging to see it fill up with more paid bills.  Financial Guru Dave
Ramsey offers another strategy he says worked for him.   "We used the
debt snowball to get out of debt.  You list the debts from smallest to
largest, make the minimum payments on all and you attack the little one
with a vengeance.  That gives you some sense of winning. You knock one
out. Then work your way down the debt snowball."

  Other ideas
include setting a time limit.  Be specific  about how much from each
paycheck will  go toward the debt and write down your budget so that you
can see it and refer to it daily to stay on track.
   SAVING YOU MONEY: Debt