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So again, in my mind the number one reason you will see lottery winners, professional athletes, movies stars, musicians, and other entertainers broke after earning millions is because they lacked the skills to watch their own money. The ones who do take the time to learn finance end up like Oprah, or Garth Brooks. Having more money than they could ever spend.

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You really want to examine the spending you did with credit purchases because that type of spending gets out of control so easily. Face it, the purchases you made with cash are already settled. There will be no long-lasting anxiety about the cash spending, and no interest charges either.

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Over 10,000 people filed for bankruptcy in Alberta in 2009, and you may be considering joining them. It's not because you want to. Maybe your business venture failed, you've come across a unique and unfortunate personal situation or you're just not good at managing your money. Debt has a way of creeping up on us and seems manageable on paper when you sign, but in all practicality, can be too much to handle in the long run. You're not the only one out there facing tough times, but you can start taking control of your own situation right now.

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