There has never been a more suitable time to get your financial house in order. While most of us cannot control whether we will have a job in a year, and we can’t reduce the fluctuations in the Stock Market, lowering our consumer debt is one thing we can certainly work towards. Being financially stable tomorrow depends on our willingness to make financially sound decisions today. This is particularly true in these economic times, and for most of us, getting out of debt is now more important than ever before.

On the heels of news this week that the U.S. economy may be headed for a double-dip recession, many people are rightfully concerned about their own current (and future) financial stability. And if you’re like me, you want to be proactive about getting your financial house in order. For myself, and millions of other Americans, my primary concern is “What would happen if I lost my job and/or Health Insurance?” A secondary, but still important consideration is, “How can I position myself to take advantage of historically low interest rates being offered?” These are not insignificant concerns, and not surprisingly, they keep me awake at night.

While most of us cannot control how our jobs and employers will fair in the event of another economic downturn, we can control certain elements that will determine our future financial stability. Specifically, the most important things you can do to prepare right now are: (1) eliminate—or at least lower— consumer debt: specifically, credit card debt; and (2) raise your Credit Score (unless your score is 850, there is always room for improvement). The good news is that accomplishing the first (and crucial) step will bring you closer to accomplishing the second.

(See the next blog post in this series: "Eliminating Credit Card Debt - Part 2 of 'Getting Out of Debt Has Never Been More Important'")