Another strategy that is worth exploring with your financial advisor is to cash out now and move your liquid assets offshore. This would give you a nest egg to start life over, but only if you are willing to live outside United States. However, dunning calls from your creditors can't happen, if you are no longer living in good old US of A. Your choice may be moving to a tropical paradise or living miserable for rest of your life in debt.

Inflation and recession are natural cycle of events under present Western Economic Policy. A recession curbs excesses of a debt-ridden society, while manageable inflation keeps lemmings happy and over indebted. It's a middle class rock and hard place dilemma created by Governments to ensure economy operates within controllable parameters.

While next year's timing of a recession may be off, another recession is as certain as sun rising in east. This cycle will continue until Civilization enters Mother of All Depressions. If you are like grasshopper playing in summer sun until first snow flakes falls, you're dead. Be among ants that see future and plan for winter.

4. Try to think of a credit card as a tool for building credit as opposed to a tool for buying things you want. You spend a small amount each month, and pay it off immediately. This will spike your credit score, and keep you out of CC debt.

5. Make sure to pull your credit rating at least twice a year. This will give you a good feel for what your score is, and most credit score reporting services will give you a detailed explanation for why your score is where it is. If you find any errors, make sure you report and resolve them immediately. It can be long and gruesome work to get a negative mark removed from your credit record, but it can be well worth it when it comes time to buy a house.

I hope some of these tips will be helpful for you as you try to be a good steward of your finances.

You may also want to check out these free resources:

www.FamilyCredit.org www.DebtFreeChristian.org

Justin Smith is President of Christian Real Estate Network - http://www.HisMove.com