7 steps to building financial fitness

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Special report

7 steps for building financial fitness
By Bankrate.com

Would you be able to financially survive a job loss or a medical emergency? When life deals those unexpected hurdles, you want to be as prepared as possible. Check out these strategies for curbing debts and building savings.

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Get financially buff
1. Dumping your debts
	Fees are the big moneymaker for credit card companies. Get rid of this debt -- starting today. PLUS: Debt-repayment worksheet

2. Cut credit card fees and rates
	Ask for a lower rate -- you'll probably get it. PLUS: Tips to avoid late fees

3. Chuck those checking account fees
	With lower fees and more free checking accounts available, why are you still paying for your checking account? PLUS: 7 ways to keep your bank account in check

4. Slash your mortgage costs: refinance
	Whenever rates are low, many borrowers will find that refinancing their first mortgages makes sense. PLUS: Capitalize on your home equity the right way

5. Take control of your spending
	It's easier to find spots to save when you make a plan. PLUS: A budget worksheet

6. Build an emergency fund
	10 ways to stash cash, even on a tight income. PLUS: Where do I stash my emergency fund?

7. Grow healthy and hefty savings
	Once you've collected some cash, there's no shortage of ways to keep it and make it grow.

	-- Updated: Nov. 20, 2002