With the New Year come all sorts of resolutions.  Many people join gyms and are dead set on losing weight and getting in shape in 2013.  Workout facilities see a huge spike in traffic in January as people try to stay true to these resolutions.  Unfortunately, this drive to get into better shape does not last very long.  New Year’s resolutions are too often broken a few weeks after the New Year.  This year it is important more than ever to focus on becoming financially responsible in 2013.  There are several ways to take responsibility for your finances in 2013.

1)      Get out of credit card debt

Credit card debt is commonplace in families all across America.  It is said that the average household has around $7000 in credit card debt.  This is a huge number and can be very difficult to overcome if your income level is not very high.  If you are in credit card debt, it is important to sit down and list out all of your debts.  Once you have a list of all of your debts, it's important to start to pay them down as fast as possible.  Typically, you should pay off the debt with the highest interest rate first and then pay the minimum payment on all of the other debts.  Once you have paid off the highest interest debt, start to work your way to debts with lower interest rates.  Before long you will notice a large decrease in your overall credit card debt.  Depending on your financial situation it may make sense to file for Bankruptcy if your debts are too large.  If you feel like this is the only way out, it is important to contact a reputable long island bankruptcy attorney as soon as possible.

2)      Investigate Long Island Loan Modification

With the downtown in the economy, more and more people are not able to afford to stay in their homes.  The government has recognized this problem and has offered loan modification programs for qualifying homeowners.  With this opportunity comes a great amount of fraud.  It is difficult to know if companies that are reaching out to you are legitimate or fraudulent.  If you think that you may be eligible for a long island loan modification, it is important to contact a long island foreclosure attorney.  These attorneys are typically well versed in the foreclosure and loan modification process.  They also tend to specialize in long island foreclosure defense and can often help you stay in your home should you be on the brink of foreclosure.

3)      Look at ways to cut your monthly bills

These days, everyone has the latest cell phone, technology gadget and cable package with 200+ channels.  While all of these things are nice, none of them are necessities.  Think of how much money you could save if you cut back on some of these expenditures.  Even if you cut back on your cell phone plan or cable bill you can potentially save hundreds of dollars per month. These types of cost cutting measures can really add up over time.  The key is to use the savings incurred from cutting back to actually pay down your debt.  If you do not do this, it is not even worth cutting back.  If you are not the type of person that is able to cut back on these expenses and you are on the brink of financial disaster, it may be time to call a long island bankruptcy attorney.    A long island bankruptcy attorney can help you to prioritize your debts and develop a payment plan that works for you.