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To bring down your credit card balances, write down the benefits of reducing your debt. No more gnawing feeling that you're throwing money away, perhaps. More money flowing to other financial objectives. Then consult the list when you have doubts.

If you're not staying on top of your money, you are putting your financial well-being at risk.

If you are worried about job security and do not have an adequate emergency fund (ideally eight months' worth of living expenses stashed away in a federally insured bank or credit union), you need to focus more on saving money than paying down the balance on your credit cards.

Money isn't everything, but it is when you start thinking about putting money away for your retirement days.

When people retire, their income drops much more sharply than their consumption. As a result, they stop saving and start drawing down the assets they've acquired during their high-saving years. That could start to put upward pressure on interest rates and downward pressure on stock prices.

You can imagine, if somebody's approaching retirement, and all of a sudden the funds that he or she is depending on is depleted by 50% or however many, it gives them a sinking feeling in the pit of their stomach.

It is safe to say that when people are short on cash, they might be less productive at work, be worse parents, and have less self-control.

I didn't end up going bankrupt... I made some great investments and I held on to my money, which also enables me to have the freedom to do what I want now. But it's not about finances. No matter what, it's about keeping it real.

Understand and accept the cycles of money. The setbacks you may have today or next year will not keep you from financial freedom. If you hold on to your goals and dreams, you will get there.

Everyone can get a little sloppy with cash and it's smart to notice. But what's squeezing you is the big stuff you ladle onto your credit cards.