And have credit cards to pay off as well as unsecured loans, student debt, lines of credit, and other forms of credit, it can seem like it will be hard to dig out. However, there are ways to make 2023 sunnier in terms of your finances. You can get a fresh start in several ways:

1) Develop better financial habits. Start saving and start learning about finances and your options. Develop a plan to pay off your bills on time. Good financial habits take some time, but they will eventually lead to better financial health.

2) Declare bankruptcy if you have to. No one likes to think about it, but if you truly have no other options, bankruptcy lets you get out from under a mountain of debt and allows you to start over. You will have to slowly rebuild your credit and your assets, but it can ensure that you do get to start over.

3) Organize your finances. Look at all your accounts, student loans, credit cards, and personal loans. What do you owe and to whom? How much are you making each month? How much do you have in savings and assets? Consider where you stand and then develop a way of organizing your finances. Develop a bill payment system, for example, so that you will not miss bills again. Set up a filing system for your receipts so that you are not scrambling in April. Getting organized makes you more in control and lays down the groundwork for better financial habits.

4) Develop a plan. After looking at your finances, determine what you need to do in order to do better financially. Do you need to make more money (maybe by diversifying your income)? Do you need to save and invest more? Do you need to pay down your unsecured loans? Write out your plan in detail and break it down to small steps you can start doing today to improve your financial tomorrow. Even if you just put $5 in your savings account today (and do the same tomorrow and the day after that…) you are paving the way to a better life.