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First take stock of your complete financial picture. Compile all of your bills and outstanding debts, including credit cards, mortgages, student loans, auto loans, personal loans and bank loans, and pinpoint exactly what you owe on each account and in total.

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If you have to make choices about what to pay, prioritize the bills that are necessary to cover health, shelter, basic food and transportation to work or school.

If you have missed payments, your creditor may be able to help you work out a payment plan, lower your rate, or lower your monthly payment, or even waive the late fee.

If you have a high interest rate on one card and a running balance, consider transferring that balance to a card with a lower interest rate. Some cards still offer 0% for 12 months for balance transfers.

If you feeling like you are drowning in credit card debt, stop using credit cards altogether. Often switching to cash or a debit card helps keep balances under control, save money on interest and has also been shown to decrease spending overall.

Start with the credit card that has the highest interest rate. If they are all about the same then start with the credit card that is almost at its credit limit.

Aim to pay more than the minimum amount for your loans, especially credit cards. The minimum payment might be a mere 2% of your balance, which makes paying off that debt almost impossible.

It's not uncommon to find an old error that's dragging down your credit score. You can make a dispute by mail, telephone or online. If a corrected error results in a higher credit score, contact your creditors to make sure they know about it, and ask for a lower interest rate.

If paying down debt and cutting expenses doesn't seem feasible, contact a reputable debt counselor for help.

What's More, they can even help you find ways to make your money grow.

The greatest barrier to saving is not the means but rather the discipline. Start putting a small amount aside in a high-yield bank money market deposit account or savings account. "Nothing you do financially will help you sleep better at night than knowing that you have money in the bank for a rainy day,"

Presentation By : Melvin Pereira a.k.a Misterjester