Once you have a good understanding of your current financial position, it's time to get your money house in order. There are plenty of books and plans for doing that, but the best I've seen is Dave Ramsey.
I won't reiterate all his points here, but definitely take a look at his site to understand the "Baby Steps" he advocates, particularly steps 1 through 3, to get yourself into great financial shape for moving forward:
1. $1,000 to start an Emergency Fund
2. Pay off all debt using the Debt Snowball
3. 3 to 6 months of expenses in savings
For another take on Dave's Baby Steps, take a look at Dave Ramsey's Baby Steps: M Network Style
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Thursday, March 19, 2009
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