While many of us use the New Year as a way to launch new habits for health and physical fitness, the one resolution every one of us should make is to take charge of our financial fitness.

With the holidays behind us, those bills come rolling in and so does the stress.  Every year most of us are faced with the same, not so fortunate position of owing money.  Unless paid for in cash, regardless of how much or how little you spent, once it was charged, it is now your debt.  It's time for some financial management 'boot camp'.

Face the facts.  Making yourself aware of how much money you really owe can be a tough pill to swallow, but in the long run this can save you a serious headache.  Gather your bills and asses the situation.  Come up with a workable plan to pay off your debt- making late payments can be detrimental to your credit score.  This is also a good time to try and negotiate lower interest rates with your credit car companies to ease the payback process.

Stay active on keeping up with your credit score.  You are entitled to a free credit report each year from each of the three credit reporting agencies, Experian, TransUnion, and Equifax.  You may request your reports by phone, mail, or online by visiting AnnualCreditReport.com.  Your credit report should be checked regularly to track progress and ensure accuracy.  If you notice any discrepancies or false information- take charge and dispute it.

Just as with healthy lifestyle choices, good financial habits will pay off in the long term.  If you feel your current situation is overwhelming, you may wish to seek help from a professional to help you put together a plan to become finanically fit.