New Year's resolution: get out of debt

KANSAS CITY, Missouri - “Get your debt under control for 2012.”  Many have made that resolution this year.  That's why we invited Brendon Jenks of Wealth Renovators to give us some tips on getting back in the black for 2012.

Jenks told us there are 5 common, short term uses of money:

1. giving
2. living expenses
3. debt repayment
4. taxes
5. cash flow margin

Then he told us if you use the steps outlined below, you’re sure to come out ahead in the financial race.  But make sure you’re not just trying to keep up with the Jones.

Tips:

• Track use of money in these categories for minimum 30 days
• Eliminate debt starting with lowest balance first
• Spend less than you earn.
• Have unified goal with spouse and dream big

Wealth Renovators, LLC is an independent Registered Investment Advisor in Overland Park founded and owned by Brendon Jenks for the sole purpose of providing independent, fee-based financial planning and advice to residents of Kansas and Missouri.