Kenosha, WI - Your credit card debt is frightful. And your lenders all seem spiteful. Your checking account is low… okay, enough of the holiday song parody. Regaining your financial health is serious business. For millions of Americans who are floundering in debt, getting a grip on finances is a prime concern as we head into 2008. While you may feel as though you'll always be saddled with money woes, you really can dig yourself out of debt. If your New Year's resolution is to improve your financial health, the key word is resolve. You must resolve to make a plan and you must resolve to stick to it--no matter how enticing those after-Christmas sales are. Is a new TV or new pair of boots worth losing sleep over? You've got to stay tough and stay focused.

Here are five steps you can take to regain control of your finances and get back on track in the New Year.

Five Key Steps to Regain Your Financial Health:

1. Assess your situation Make an honest assessment of your current finances. Determine how much money you're forking out each month. Don't forget to include expenses such as medications, school lunches and dry cleaning.

2. Decide where you want to be financially Setting goals will help you focus. Decide what expenses you can realistically cut (daily mocha lattes, take out dinners, etc) to help create your action plan or roadmap for reaching your goal.

3. Pay yourself first If you have direct deposit, set aside a certain percentage from each check that will be funneled directly to a savings account. If you don't have the money in your hands first, you won't miss it so much. You must be diligent about allowing your savings to grow.

4. Explore your re-financing options If you're house poor, re-financing a problematic loan could help ease your financial pain. Check out the government's FHASecure loan program and other re-fi programs for homeowners who've been sucker-punched by ‘creative' financing that's taken an ugly turn. Make sure you truly understand the terms of ANY loan you sign.

5. Learn to manage the money you have now Money management is the most critical factor in building wealth; learn to manage the money you have now regardless of the amount

Steve Williams, a self-made millionaire, success coach and spokesperson for the Success Institute of America understands why so many Americans feel anxious about their finances. He firmly believes financial health is about more than money. He says when people are under financial duress it affects all areas of their lives. That's why it's so critical to take action. And the New Year is a perfect time to start.

“Financial problems hurt more than your bank account,” says Williams. “When you feel stressed about money, that anxiety has a negative impact on all areas of your life—your relationships, your job and your health. I bet you lose sleep or you find yourself snapping at your family because you're so consumed with worry about how you're going to pay each bill. Because people are so receptive to the idea of making lifestyle changes at New Year's, it's a prime time to capitalize on that energy and make some effective and long-lasting changes.”

Williams says it's important to start your roadmap for the future as soon as possible. “Carve out some time to sit down, grab all of your bills and outline your roadmap. Simply taking that first step will instill a sense of relief. Once you pass up those first few temptations that would normally have you whipping out your credit cards, you'll feel good about yourself and you'll feel your resolve growing even stronger. You'll reach a point where it feels good to stop spending senselessly.”