Cleaning your financial closet and keeping it clean clears your mental and physical space for financial wellbeing and the introduction of new things. This is the time to clean out your old files so you can find what you need when you need it. Get rid of receipts and other papers that you no longer need. If you are unsure if you will need something in the future, start a system for archiving where you can put the things that most likely will not be needed as often. Make a ritual of releasing the past, both physically and mentally. Create a ceremony where you symbolically "let go" of your past and get rid of outdated papers, receipts, and other clutter.

People who hold on to old unused files usually have a difficult time letting go of their past and their negative emotions of hurt, blame and sadness. Cleaning, clearing and releasing is a sure way to open up the way for new opportunities to come into your life, since your cup is no longer overflowing. The same thing works for your clothes closets. Once you've cleaned out your financial files you may want to take a peek. Is that possibly your Prom dress, or the suit you graduated in?

You may not believe it but that was probably the easiest part! Now let's get down to business.

1. Pay, and make arrangements to pay, all outstanding debts including the IRS. The IRS accepts most reasonable payment plans. In addition, there are several organizations and attorneys who specialize in working with the IRS.

When developing a plan for paying debts, it is best to pay interest-bearing accounts first and then non-interest debts. However, money owed to family and friends often comes with prices that are much higher than the highest interest rate charged by any bank. You may want to offer your family or friends a reasonable payment plan, with some type of monetary interest added in exchange for a longer-term payoff.

2. Collect or make arrangements for the payment of money owed to you. Write a manageable payment plan and get it signed. If you believe that the money will not be paid, or in your heart you are truly ready to "let go" of the money, get it off your plate by making it a gift. Send a letter absolving the debt. It may be useful when you make out next year's taxes.

3. Forgive yourself and others for any past financial wrongdoing. What you really forgive can never hurt you. Now, write yourself a letter expressing your past financial experiences, both your successes and your shortcomings. Include what you've learned from each experience. Keep a victory log and record each time you make a wise financial decision.

You may begin to feel like a giant weight has been lifted, from your wallet as well as your heart. The worst that can happen is that you'll have lots of room in which to put more stuff!

Marilyn August offers "Money-Wealth and Wisdom" seminar in south Orange County, California. Her next "Money-Wealth and Wisdom" seminar series entitled "The Six Week Prosperity Process" begins on Tuesday, February 22nd, 2000 and runs for six consecutive weeks. For additional information or details on how to qualify for acceptance into Marilyn's program, please E-mail her at MAugustCo@aol.com .

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The founder of Wealth and Wisdom Seminars, Marilyn August is a professional speaker and master facilitator who develops her seminars with the passion of personal experience and the expertise of over twenty years in adult education.

She holds a Masters degree in Education from Northern Illinois University, and has designed, developed and presented training programs to major corporations including American Honda Motor Company, AST Research, Inc., AAA Chicago Motor Club and Chevron Oil.

Known for her light-hearted, pragmatic, yet deeply personal approach to financial success, Marilyn's quest for emotional and financial freedom has led to the discovery of a number of principles, techniques and tools that have helped thousands of people achieve financial well-being.