Check the totals of your bills. For many of us, the monthly mortgage payment is one of our biggest (if not THE biggest). So it only makes sense to do what you can to reduce that amount.

Again, for many of us, the value of our real estate has plummeted. In numerous cases, down past the value of the mortgage itself — leading many desperate property owners to conclude that they would actually be better off with a foreclosure.

Before you reach that point, do some research to see if home mortgage refinancing puts you on a more even path. If you’re new to all this, a refinance basically replaces the remaining balance of your mortgage with a new loan for the same amount.

If every detail was exactly the same, it probably wouldn’t help you much. However, interest rates are almost certainly lower than they were when you took out your first mortgage — in fact, they hit record lows recently but have shown signs of going back up little by little, so it would be best to move quickly.

Also, if you have managed to reduce the balance of your loan (which is very likely, unless you took out the mortgage very recently), the total amount will be lower, which gives you more flexibility with monthly payments or terms.

Keep in mind that the mortgage value is regardless of the value of your home; the loan amount won’t be subject to  changes in the state of the economy as a whole.

If you find that you are actually doing quite well and can afford to give your daughter a chance at learning at game of golf, check out junior golf clubs. Golf is a game of concentration and skill, something that can be perfected at a young age. Before you know it you’ll be shopping for prom dresses and shortly after that you’ll be paying for a wedding. So don’t get too comfortable.