To-Do List for 2008: Tackle Your Finances

Don't waste your time making New Year's resolutions. Instead, make a list -- and actually do the things on that list. These tasks are not so difficult to accomplish, if you tackle them one by one. In fact, you'll get a great sense of accomplishment. Here's a great "to-do" list for the New Year. You might be able to check off a few without even trying!

Detail your debts. Make a list of what you owe and the interest rate and minimum payment. Remember, if you double the minimum monthly payment, keep paying the same amount each month and never charge another penny, you'll pay off your credit card in less than three years -- no matter how large your current balance.

Check your mortgage. Plan to pay extra every month so you can pay the loan off early and save a fortune in interest. If your rate is floating, or if you have a home equity loan, consolidate now to a fixed-rate loan, if possible. Help is available at 800-CALL-FHA, if you're not behind on your payments. Contact your loan servicing company immediately if you're in danger of missing a payment.

Get credit counseling. If necessary, contact Consumer Counseling Credit Services. One call to 800-388-2227 will put you in touch with the nearest local affiliated agency. You can talk over the phone to get unbiased, safe advice. ...