1. Create a budget.Figure out where you stand: how much you earn, how much you owe and how much you regularly spend. Then create your budget and stick to it.
2. Pay off consumer debt.Pay off a credit card as soon as possible to reduce your interest payment. If you can't pay cards off quickly, try a consolidation loan.
3. Start a savings program.Make it a habit to save and invest. Contributing to an employer plan that offers the benefit of tax-deferred growth potential is a good first step.
4. Determine personal insurance needs.Accidents and illness can be financially devastating. Determine your needs and consider life insurance and disability income insurance through your employer.
5. Protect belongings with insurance.Check out a homeowner's policy or renter's insurance as an inexpensive way to protect your possessions against theft or fire.
6. Create a Living Will.If you should become seriously ill, a Living Will can assist your family in making medical decisions according to your wishes.