Tips and Steps to achieving better Financial Health
Pledge to change
how you feel about money
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The first step on the path to financial success is accepting full responsibility for your choices. You are in control of your financial future, and every choice you make can have a positive or negative impact on it. No matter your age or education level, you should to be aware of and be in control of your financial matters.
As you work towards developing and following a financial plan you should .... examine .your attitude towards money. Are you ready to accept responsibility for changing your financial situation? Do you believe that you can and will change the way you make your financial decisions? Can you identify at least one benefit that you hope to gain by changing your money management behavior?
If you are definitely ready and able to start your path to financial wellness; you should also willing, take a pledge with yourself, your loved ones and God to do so and stick to it!
Get Organized
preparation is key
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Track your spend
Know where your money goes
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Click to Read
all 19 checklist items
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The warning signs
Watch out for trouble
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SMARTER plans
Set your financial goals
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Create a budget
changes in your cash flow
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This is not just for you, but is also intended to help you reach out to your friends and family who might be blind to these happenings. Sometimes we don’t see the signs of financial trouble until it is too late. However, knowing how to recognize the warning signs may help save you and those you care about from having their debt and life spiral out of control. ...
Some of these red flags or signs may include:
After you have made your pledge, now it’s time to get financially organized. Once organized, you will see your whole financial picture. Proper planning and discipline will help you make choices that will lead to sound financial management of your finances.
Start with your financial record keeping such as tracking and recording your income and expenses....
All papers associated with your income and expenses should be kept in a designated and safe place.
Setting financial goals is an important step to financial health. To set your goals, plan for them with S.M.A.R.T.E.R. milestones. Ensure first of all thought, that your plans are smart ( tested and proven to work) to begin with!Your milestones should be:
Specific: The goal should identify a well-defined specific action or event that will take place that is, clear to anyone that you have never explained it to before, and will .... understand it, when they read it for themselves.Have clear
While some individuals find tracking how and where their money is being spent tedious, it’s critically important for achieving your optimal financial health. You should track your spending for a minimum of 30 days before developing a budget.
If you don’t it can be difficult to really determine what your monthly expenses are. It is recommend that you track your spending until you feel completely comfortable .... knowing where your money is being spent.
There are many ways to track your spending. You can use a not
A budget is the most powerful tool you have for managing your money and achieving financial health. A well-constructed budget is something that everyone could and should have. A budget shows you the flow of money in (income) and out (expenses) of your household. A budget will also enable you to see how you are managing your money over a specific period of time....
Perhaps most importantly, it details
I hope you had all 19 on your checklist and you are up to scratch with each. If not set a plan to add one each month to your new financial well being awareness lifestyle. Never hesitate to seek help from a financial adviser - most financial institutions will discuss all your needs and plan with you for free.
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To empower yourself for wealth