Financial stress is a common topic around the dinner table all over our nation! What can we you to relieve this stress? Since most of us don't have a rich uncle to rescue us from our financial mess, we must formulate a financial freedom plan.

First, get organized. Before starting any financial freedom plan, find out exactly how bad your debt really is. Are you at the point of bankruptcy or just need to reduce unnecessary spending?

Throwing all those bills in a drawer, forgetting they exist doesn't count as a financial freedom plan. Every month, they just keep showing up in our mailboxes again.

One thing I have noticed is that a lot of people have what I call ?magical thinking?. They complain about their debts. When I ask if they have a financial freedom plan, they say they're waiting for their tax refund. Then they go shopping and charge more. How many different ways do they think they can spend that tax refund? Watch out for that ?magical thinking?. It's dangerous!

If you don't at least make the minimum payment every month on your credit cards, you will soon have a more serious problem. Next thing you know, you will see those extra charges for late payments adding up and then your interest rate will go sky high! Not to mention your credit will be destroyed!

Obviously, you need a financial freedom plan. Let's get started with becoming debt free.

First, gather all your regular bills, mortgages, credit card statements, and any other debts. Find a working pen and notebook. On the top of the page, write FINANCIAL FREEDOM PLAN.

List all your regular monthly bills on one side. Also average out your other household and gasoline expenses. Take yearly expenses and divide by 12 to determine cost per month.

This would include taxes on your house, house insurance, perhaps even car insurance. On the opposite side of the page, write down your monthly income. Subtract your total monthly expenses from your monthly income. Hopefully, the result is not a negative number! Now we are making progress on our financial freedom plan.

When it comes to your credit card debt, add all balances up to see exactly what you owe. Have you considered the possibility of doing balance transfers to a new card with a 0% internet rate for 12 or 15 months? Consolidating several credit card balances in this way could save you tons of money and reduce your stress.

If you do this type of consolidation as part of your financial freedom plan, close out those cards as soon as the balances have been paid. It is better not to keep them around and be tempted to start using them again. There will be a small fee for doing balance transfers, but it will be worth it discontinue accumulating interest and lower your monthly payments.

You may have to cut your spending to only things that are necessary. Of course, you have to put gas in your vehicle, but you don't have to stop for fast food on the way.

Although you won't starve, you may have to quit eating steaks once a week for awhile. One-pot meals and leftovers can save you some money. Check out websites where they offer free recipes for the budget conscious consumer. You can eat healthy and hardy for less!

Put your vacation on hold for now. Spend some quality time at home with the family. It's free and your family will thank you for it! Instead of buying or renting movies or going to the theater, make some popcorn at home and check out what movies are on TV?perhaps play a game. Get creative!