Women are becoming more and more in control of their finances, resulting in an overwhelming number of choices. How do you know where to begin? Here are seven steps to get your finances on track and simplify your life.

1) TAKE A FINANCIAL SNAPSHOT.
Start by taking a 30-second snapshot:

· How much do you OWE?
· How much do you OWN?
· How much do you SPEND?
· How much do you EARN?

2) DEAL WITH YOUR DEBT AND CREDIT REPORT HEAD ON. Before you can start building a solid financial future you have to be debt free. Run a credit report from all three agencies and get your FICO score at www.myfico.com. You can fix any mistakes you might find on their sites. Then consolidate and transfer any credit card debt to a permanent low interest rate credit card. You can find one at www.bankrate.com. Stop using your credit cards for anything new; only use cash. Finally, come up with a payment plan to determine when you will be debt free.

3) CREATE A SPENDING PLAN. Start repairing your finances by living on cash ONLY for the next two months. Then, come up with a set weekly spending amount and stick to it for the week – NO MATTER WHAT! You will find that there is more money left over at the end of the month and now you can pay yourself or go shopping. What woman wouldn’t want to go shopping – guilt free? You can still do the things you love, but you need to prioritize them on a weekly basis.

4) MAKE SAVING FOR RETIREMENT A PRIORITY. As women we have so many things fighting for our time and money that saving for retirement keeps getting pushed to the back burner. Start with at least 3% of your income to your SEP IRA. Another benefit is you will save money on taxes! You can also setup an automatic savings to a ROTH or Traditional IRA at a mutual fund company. See if you can maximize the $4,000 limit by contributing $333 automatically every month.

5) SETUP AUTOMATIC SAVINGS. Changing your financial mindset means making it automatic, automatic, automatic. Even if you can’t afford much, start at $50 a month. Fact – people who put away a small, scheduled amount of money every month end up saving more money than those who put away larger sums but do it sporadically. Consider www.ingdirect.com  or www.Emigrant-Direct.com.  They are currently paying 4.50% and 5.05% on their money market with no fees and no minimums.

6) EXAMINE YOUR INSURANCE. Do you have the cheapest health insurance out there? Visit www.1sthealthinsurancequotes.com. Don’t forget about disability insurance. If you get sick, no one will pay you! While you are at it, is your will up to date? You can also DIY inexpensively with a will program on www.nolo.com.

7) CHANGE A MONEY HABIT. When it comes to finances, women get stuck in ruts. Luckily we’re not afraid to admit our mistakes and learn from them. A few suggestions to see positive changes in your financial life:

· Open all the money envelopes the day they come in
· Make your finances as simple as possible. Close and consolidate accounts.
· Say a daily money affirmation. For example: “I am open to receive financial prosperity and abundance.”
· Call upon other women. A friends, family or financial planners. Don’t complain but ask for support and guidance on how to move forward.