Not everyone has a positive relationship with money. In fact, if we can be honest, I believe that most of us don’t have the best relationship with our money. Are we making enough? Are we spending too much? Are we investing enough? Are we saving for the right things?
I would be lying if I said that I’ve always been great with my money because I haven’t. Sometimes I overspend on things, there have been times when my budget is nonexistent, and I have spent a great amount of time living life without an emergency fund! … YEAH.
It takes a lot to really be serious and committed to your finances in the beginning, but the more positive changes that you make, the stronger your money relationship gets. Every positive step you take in the right direction puts your finances in a better position to really build the foundation for the dream life that you imagine.
1. Save money
If you currently aren’t saving, you my friend are doing something wrong. When it comes to savings, every little bit counts. It doesn’t matter if you can afford a more aggressive savings goal, or if you’re seriously saving just a few dollars a week. When it’s time for you to break the glass for an emergency, you’ll be glad that you’re even a few dollars, or even a couple hundred dollars closer to paying for that emergency. If you can start and commit to building a savings, then you’re already strengthening the self control it takes to tackle your personal finances.
Check out my post “5 Money Challenges To Try In 2019” here!
2. Get out of debt
Plenty of people in the world live successfully with debt over their heads. The United States does it with ease and not a care in the world. That’s not the point! The point is, you don’t want to be one of those people, and you don’t want to be thousands of dollars in debt. Regain control! I absolutely understand that not everyone will be buying a house in cash, or avoiding car payments and credit cards, but it’s important to prioritize and recognize that too many unnecessary debts all at once is a downward spiral. Start by paying off or paying down your store cards, paying off a small medical bill, pay those parking and toll fines! Stop letting other people hold that IOU over your head, and get them out of your life FOR GOOD.
3. Cut your expenses
It’s really the little things that start to add up. Reevaluating your budget is something that you should do every so often, but especially when you’re wanting to make some positive changes to your finances. Get rid of that extra subscription, maybe an unused gym membership, or even finding ways to cut down a few of the expenses that you plan to keep. Nine times out of ten, for the average person, you’re probably overspending somewhere. Again, every little bit counts. Every penny that you save by cutting your expenses can then be used to tackle your debts, or pad that much needed savings account.
If you’ve read my post “My Personal Finance Goals For the New Year” then you’ll know that one of my larger goals for the new year is invest. Investing can mean whatever you want it to mean for you personally. Invest in stock, invest in your financial knowledge, invest in your financial future. Like your personal finances, how we manage money is always evolving, so it’s always good to keep up with all of your options out there to put you in a better place financially.
5. Change your mindset
So much of making a lifestyle change is mental. Tell yourself that YOU WILL, and stop making excuses as to why you can’t. You will save, you will pay off that debt, you will reach all of your financial goals, you will build the life that you want for yourself.
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