Starting the year with positive financial goals

The beginning of a new year means one thing: resolutions. If you are one of the many who make resolutions, you may have many of the same goals year after year. For example, you might resolve to lose weight, exercise or watch less TV. However, it may be possible that this year you have more urgent matters to confront.

If your finances have you lying awake at night or dodging phone calls from creditors, you may have decided to focus your energy on conquering your debt in 2020. This is the goal of more Americans than ever, which is not surprising since the average household seems to carry significantly higher debt this year than in recent years.

Does this sound familiar?

A recent study showed that the top financial goals of 2020 are paying off debt, saving money and reducing spending. Additionally, 84% of those who responded to an online survey agreed that they would rather save $5,000 than to lose five pounds. More respondents also felt that committing to a budget is more important than committing to a workout plan. You may also agree with some of the following financial statements that cause Tennessee consumers concern as the new year begins:

• Unexpected expenses, especially medical emergencies, could derail your financial goals for the year.
• You will probably find it difficult to save for short or long-term plans.
• Your credit cards, loans, mortgage and other personal debt causes you the most concern.
• You regret taking on more financial debt last year.
• You have concerns that your debt is out of control.
• You are considering bankruptcy to relieve your debt burden.

Bankruptcy may or may not be the answer for you. In fact, you may be looking for any option that will help you avoid this complex and challenging alternative. Many in your position think they have found the perfect solution when they sign up for a debt relief program or a debt consolidation plan that turns out to be a fraud, leaving them in a worse financial condition than before.

If you are seeking trustworthy advice about how to regain control of your debt, you may find it helpful to enlist the services of a compassionate attorney who can offer information about alternatives that may better suit your situation. With the guidance of a skilled legal advocate, you may be able to look forward to 2020 with optimism.