Make this one resolution

Happy New Year 2012!

In the off chance that the world doesn’t end this year, you’ll want to use this clean slate moment to help reach your goal of being debt-free. But just like that other stock resolution, losing weight, shedding debt is easier said than done and your resolve can start to wane well before the weather gets warm again.

So what to do? Simple. Pick just one little thing and make it a daily habit. Write it on your car dashboard, keep it on a slip of paper in your wallet, teach your baby kid to say it. Whatever it takes.

Need some tips on what that one thing could be to help you get out of debt and stay out of debt? Here are twelve ideas.

Twelve Debt-Busting Ideas for 2012

  1. Pick one credit card (e.g. the one with the lowest balance or highest interest rate) to pay off by any means necessary. Cut it up, and make payments every chance you get. Even if it’s an extra $20 or $30 when you have a little extra cash.
  2. Organize your finances and check them daily with tools like Mint.com or Quicken.
  3. Collect your spare change every day and put it all towards one bill at the end of the year.
  4. Give up one expensive habit for good, no exceptions. No cigarettes for a year, no chocolate, no booze.
  5. Do one online survey ever day using a site like Surveyhead. Put that money towards your most hated debt.
  6. Pick something you own to sell or donate every day. The cash and tax deductions are money in your pocket.
  7. Replace one grocery item with a generic brand. You won’t notice the difference.
  8. Read the Wall Street Journal online every day. Educate yourself like the rich do.
  9. Have a five minute conversation about money with your kids. They’ll benefit and you’ll stay focused on your financial goals.
  10. Compliment someone at work. Likeable people earn more.
  11. Drive slower. You’ll spend less on gas and car maintenance.
  12. Lose some weight. You’ll be happier, more productive and more marketable.

Good luck and best wishes for the new year.

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