Say "Ahhh"
In our last article, we talked about the importance of changing our thinking about debt and spending.� We gave some general truths about debt...and how it makes you a slave to the lender.� We hope you understand that you should now be doing whatever it takes to get out of it!

Now that we've told ourselves the general truth about debt, it's time to make it personal...and figure out exactly where we are at personally!� This isn't a hard step...but it takes courage.� It means that we will be gut-level honest with ourselves about exactly where we are at financially.� It means that we will have to endure some possibly painful moments of truth.� It is similar to a visit to the doctor...sometimes filled with fear, we go to the appointment and find the truth.� However, the good news is that our truth encounter (and the accompanying pain) will help us get back to financial health...and we won't have to endure this pain again!

Where Do We Go Now?
Let's continue our journey of truth:� to move into financial "wholeness", you must continue to get very specific about all of your money situation.�� You must know exactly where your money is going every month... and we started this last week, with our debt/interest table.� Last week's table concentrated on figuring out how much of your money each month is going towards interest payments.� This should have given you the real cost of your debt, in money terms and intangible terms, such as stress, etc.

Now, you must continue this process by figuring out exactly where all of your money is right now.�� In other words, you must figure out the exact position of where you stand in relation to debt, savings, assets, investments, etc.��� It is actually a very simple process, but it is eye-opening...and will change your whole outlook on money!���

Your Financial Health Sheet�
You accomplish this process by filling out a simple table like the one provided below, which we call your "Financial Health Sheet."� This is equivalent to what businesses have to do on a regular basis (a balance sheet)...except we are modifying it to make it much simpler...and to apply for your own personal financial situation.� � Looking at this will give you a snapshot today of where you are...what your financial vital signs are.��

As you begin to fill this out, take time to accurately record each (and every) of your assets/debts/etc.� This process in and of itself is an important step in getting you in the habit of knowing exactly where your money is...and where it is going.��(Note that we have filled in some examples just to help you understand better.)� Also, note that the items in this sheet are what we call "hard assets"...in other words, they have an easy to determine value...and are easily convertible to cash.� (You wouldn't include a Beanie Baby collection in this list, for example, unless you are sure that you could sell it for the amount you list!)��

So, fill it out now!� (If you don't want to create your own, we have built one for you in spreadsheet format - get it here!)� Search through your bank accounts, 401K statements, bills, etc to get your balances....it's all part of the process!��

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