Once a year, I do a financial housecleaning, from calculating my net worth to finding out how I can improve my cash flow. One thing I have noticed is more people seem to put more emphasis on what TV program they are watching than their own financial direction, using the excuse: "It's just too hard for me to understand or it's too late for me."

Most financial problems occur from lack of knowledge. If we understand first what we lack, we will realize what we need to know to improve our financial house.

Here is what you need to start a spring cleaning in your own financial house:

Supplies Needed:

- Discipline. Today, we seem to lack the necessary discipline or required sacrifice that is necessary for financial strength. You need to simplify your life, stop over-consuming and live within your means.

- Common sense. If you do not understand a financial vehicle like a mortgage, keep asking until you do. Most times, lenders, or any source you need to get information from, have a tendency to intimidate us with terms we are not familiar with in our every day vocabulary. Mirror it back to the source by repeating what you think you understand. It doesn't make sense to accept or sign something you don't understand only because you are afraid to "look stupid."

- Determination. Knowledge is power. Go after as much knowledge as you can when it comes to understanding finances or even how the economy might affect your personal welfare. A good defense is a good offense.

- Consistency. When it comes to the basics in finances, you need to stick with the discipline that has given you success. Do not allow greed or fear to get in the way.

- Honesty, Bravery. If you have an embarrassing debt or feel like you are facing the worst-case scenario (as in bankruptcy) ask yourself if you are being honest and are facing up to that fear. Nothing is impossible to achieve if you believe you can attain success. The more you bury your fear, the worse the outcome will be. Stop worrying and start taking action.

Get to Work!

After you gather your supplies, start applying them. You might need some elbow grease here. Open your eyes to see where you are going. You cannot know where you are going without knowing where you have come from.

A net worth is important to do once a year. Take all your assets and put a dollar amount on them. Use the two supplies mentioned above, "being honest" and "facing fears," and recognize how much you could get if you were to liquidate

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