3 ways to conquer your scariest finance obstacles

I'm no stranger to financial woes. We all live in a recession, don't we? I've definitely felt the hardship over the last few years--who hasn't?. Every month I do my best to budget and keep up with my finances, but I it's difficult for everybody.

We all have our own personal finance issues, but MSN Money is reporting that there are three scary personal-finance issues that most people are contending with: 39% carry credit card debt, 56% don't have a budget and 40% are saving less than last year. But since April is National Financial Literacy Month (and when taxes are due, don't forget!), it's important to take a look at the money worries we all have—and conquer them! This is how to do it.

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1. How to finally get rid of that credit card debt: If you can, stop using them immediately and begin to pay down the balance. If this isn't an option though, start switching your cards to one that has a low interest rate. Don't ever fall for store credit cards, since these have the highest interest rates that will quickly add up. Do your research diligently and switch over. If you can, pay off a little bit more than the minimum balance each month, even if that's just an extra $5. It will add up in the long run.

2. The right way to set a personal finance budget: I know, I know. We all try to have a budget, at least in our minds. But that's not good enough. There are a ton of budgeting software sites and apps, like Mint, Manilla and MySpendingPlan. There's no excuse to not have things written down. First thing to do is to look at your credit card and bank statements to determine how much you're spending. Where are the areas you can cut down in? Keeping track of everything online can help you meet your budgeting goals. Set realistic expectations but try to cut back where you can. Start with the things you could replace, like less eating out and more cooking at home, or getting rid of cable and instead investing in a Hulu Plus and Netflix Instant subscription.

3. Yes, you HAVE to save money for a rainy day: The hardest thing to do is to save money. Budgets are tight, we have credit card bills to pay, student loans and children, it all becomes really overwhelming in the end. But less and less of us are saving (trust me, I know from personal experience) and it's a problem that needs to stop. Even if it's just a small $20 per paycheck, make it a part of your finance budget and commit to setting money aside. You never know when you will need it but, when that day comes, you'll be really glad that you made a tiny sacrifice and have the money.

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What is your biggest finance worry? How are you planning to finally conquer it during this year's National Financial Literacy Month?

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