New Year's resolutions - losing weight, exercising, spending more time with family and friends - frequently fall by the wayside within the first few weeks of the year. However, here's one resolution that may be easier to keep: resolving to reduce debt-related stress.

"Health professionals frequently spend their time taking care of everyone else and may neglect themselves," said Gay Watson, director of public relations for the Consumer Credit Counseling Service, a nonprofit, community service agency that provides free confidential budget counseling, money-management education and debt-management programs.

"Financial issues can compound the stresses that are inherent with a health care career, but there are some specific ways to deal with them and cut down on the stress."

Financial stress can permeate all aspects of someone's life - from work performance to family relations. "If you find yourself thinking about your financial situation while you're at work, debt stress has invaded your workplace," Watson said. "This can critically affect your day-to-day performance, your family life and your health."

According to the Federal Reserve Board, the average American consumer has a debt load of $7,296, between credit cards and car loans. The average American household with credit cards carries an average revolving balance of $8,000 to $9,000.

"Some consumers have balances that are more than their annual salaries," Watson said. "It's only natural to feel stress from debt, especially if it seems overwhelming."

Getting a handle on credit card debt is kind of like going on a diet.

"You don't realistically lose all the weight in one month," Watson said. "It took time to build your debt, and it will take time to reduce it. You just need to make the commitment to start."

Watson suggests a few steps to get started:

• Assess your current financial situation. The only way to understand what you're facing is to have a realistic picture of what you owe. Gather all your credit card statements and other bills, and add up the total.
• Commit to managing your money. At least twice a month, set aside a specific time to pay bills, balance your checking account and analyze expenses. Remember to prioritize, and always keep current on shelter (mortgage or rent and utilities) and transportation bills.
• Avoid adding to debt. Don't make any additional credit purchases until you've paid off existing balances. Then, make a covenant with yourself that you won't charge anything else unless you have a plan in place to pay off the balance in 90 days or less.
• Create a debt repayment plan. Once you know how much you owe, craft a plan to pay off the balances. Trim expenses or increase income and increase credit card payments.

Your goal should be to pay off the balances as quickly as possible. Sacrifices now will mean less stress and a better financial future.

"Just taking the first step can help you feel like a huge burden has been lifted from your shoulders," Watson said.

"When it's cold outside, January is an excellent time of year to resolve to reduce your debt-related stress. Take it one step at a time, and this is a resolution you can probably keep."

If you need help or advice, contact Consumer Credit Counseling Service at 1-800-251-2227 or visit www.cccsinc.org.

- During the next six months, For Your Benefit will focus on financial issues, from tax information to saving for retirement. Next month: Five steps to financial freedom.