If you’re trying to get better finances, consider the following action steps.
Step 1: Try something simple that can help you boost your finances, and turn it into a daily or weekly habit. For example, putting your change in a jar to save up for something special.
Step 2: Track how you spend your money for 30 days. Organize expenditures by how you pay for things. For instance, use these labels: cash, credit card, debit card, online payment, or check.
Step 3: Formalize a monthly spending plan (budget). Anticipate how you will spend your money so you can plan how to meet those expenses.
Step 4: Schedule an hour at home when you are by yourself (or with your spouse) and without distractions. Use this hour to develop 30-day goals for reducing your financial stress. Have the same meeting every couple weeks so you can evaluate your progress and establish new goals.
For example, say you’re one of the 44% of Americans who believe that saving for retirement is a significant contributor to financial stress.1 One of your goals could be putting 5% of your monthly income towards retirement savings; you could then put that in the budget and make it a monthly practice.
Through financial consultations, your Money Coach will provide accountability, so you can accomplish these steps. Set up a financial consultation today by calling 888-724-2326.
1Stress in America: Paying With Our Health. APA, 4 Feb. 2015. Web. 16 Feb. 2015. PDF.
Whether it’s your first appointment or your third, you can make the most of your time with your Money Coach using the following tips. Prepare (It’s key!) Gathering information ahead of time will help your coach provide the best road map for your situation. Whether it’s credit reports or spending history, account balances or pay […]
You’ve dipped your toes in the investment pool, and now you’re ready to dive in. Or maybe you’ve been swimming laps for a while. Before you move forward, put some time and effort into creating or reviewing your investment strategy. More specifically, consider these four factors, and how they might need to be altered for […]
Paying attention to the little things can lead to huge improvements with your health and your finances. Take Leo for example. His life was a mess until he took a few easy steps to de-stress his financial life. Here’s how he turned things around (and how you can too): “Looking back on my life a […]
Take steps to protect your finances. As we all go through these difficult times nationwide and around the world, we must stay positive and look for ways to be proactive with our finances. Consider taking the time to review your situation and create a plan. Here are a few ways that you can better protect […]