A Note From Patti:  Happy New Year

Feature Article:  Debt, divorce and determination

Patti Recommends:  FREE teleseminar that you won't want to miss!

Please add "patti@wisdomwithinyou.com" to your email friends list, so you won't miss future issues!

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Happy New Year
 
I hope you enjoy my new ezine format! My goal and plan is to make this more personal and enjoyable for you to read.
 
Amazing how 2007 flew by so quickly! When I brought all my Christmas decorations out, it seemed like I just put them away from last year.  It makes me stop and think about just how short our time on this earth is. Not in a bad way, of course, just a reminder that this
life is precious and the importance of making the best of it.
 
As we are constantly challenged and tested, we become stronger and stronger, sometimes not realizing it until years later. If you have experienced an event this past year that challenged you,
stay hopeful, stay strong and know that it will all work out in the end.
 
As a Mortgage Advisor and Life Coach, I have seen the impact of the present housing situation on many people.  Debt is at an all time high, foreclosures are creeping up and many industries have seen the profits shrink. My article this month will hopefully help you toward dealing with some of those debt issues.
 
Make sure and check out my upcoming event, a free teleseminar, that will move you one step closer to taking control of your money matters.
 
Enjoy!
 
To your wisdom,
Patti

As if dealing with the emotional roller coaster of divorce isn't enough, the debt and financial challenges that go along with it, can frighten even the strongest of souls. Although it can be a very confusing time, there are some simple steps you can take to keep debt in check. Take things one day at a time, but don't lose sight of the big picture. Here are some tips to keep you focused:

*Emotions are high and the need to take care of ourselves is even higher. Be careful not to get caught in the trap of 'emotional spending'. I do encourage taking good care of you, but don't get caught up in 'the now'. Those credit card bills will show up and when they do, you'll be dealing with additional stress.

*When you go to purchase something, ask yourself a quick question.
"Is this something I need or is it a desire." Sounds simple enough, but the tendency is to buy now and think about it later. We all do that from time to time. If it's a desire, give it a day or two and determine if you still want it. Most times, that initial impulse to buy will dissipate.

*When dealing with credit card debt, I recommend collecting all your bills and organizing them. I realize that's not your idea of a fun time, but I do have a purpose. Put them in an excel type spreadsheet, with each store name, total balance and interest rate charged. You may be surprised as to how high some of those rates are! Once you have that organized, you can start a plan of attack in paying those off. Start by calling the creditors on the cards and negotiate a better rate, especially those at the higher rate. Ask to speak to a supervisor if you don't get the answer you want. Then start paying off the card with the highest interest rate. If it is a department store card, cut the card up, but don't close the account. Closing the account can actually cause your credit scores to drop. Continue to pay down as much as you can and stay consistent. If you have credit cards that were joint and you are now going through a divorce, I recommend transferring whatever balance is owed to another card (whatever you and your ex decide) and close that account. With a divorce, closing the account is really the best option.

As the emotional, turbulent times begin to subside, you will be pleased that you kept your finances in order. Stay determined and always believe in yourself!

Recently, I sent out an email asking for one pressing question regarding your financial situation. Thank you for all those that responded! I received some great questions that I know everyone can benefit from.

Please join me for a FREE teleclass, Thursday, February 7, 2008 at 4:00 PST, 7:00 EST.
This teleclass will be one hour in length and will cover all of those great questions you had regarding your money issues. If you didn't respond just yet, email me at patti@wisdomwithinyou.com with the question you want answered!

In addition, I will have a financial planner as my guest speaker, who can respond to
those specific questions regarding investing.

You must register for the class, so please register early to reserve your spot. You will receive call in information once your register.

Click Here to Register

I look forward to having you on our call!

To your wisdom,
Patti

Patti Handy is a CTA Certified Life Coach, Certified Personal Trainer and with 25 years in the financial industry, including 6 years as a Senior Mortgage Advisor, Patti brings a unique combination of experiences to her coaching clients. Her passion is 'Guiding single women where money matters.' A divorced, single mom herself, she understands the fears, challenges and overwhelm faced by other single women, especially when it comes to their finances. Visit her website at www.wisdomwithinyou.com to download a FREE special report, 'The First 5 Steps to Financial Freedom, a guide for single women' and to sign up for her FREE monthly newsletter.