When I was In distress, my finances were a WHOLE HOT MESS! Early Twenties Kay was a financial advisors worst nightmare! Eating out, shopping before I paid my bills, living paycheck to paycheck. UGH! I had no clue what damage I was doing to my financial life.
Somewhere after a nearly defaulted school loan and a declined credit card I decided it’s time I #GetMyFinnancialLife. I started with making the most brilliant budget where instead of eating out I saved all that money. Then BAM! All my financial issues were gone! Credit Score improved! And I lived happily ever after …
Now for #thetruthdotcom
It was very difficult for me to change my spending habits. It took practice, some wins, some losses & most of all discipline (something I’m notorious for having 0 of!) The following are 3 Steps I took to improve my financial sitch.
Step 1: Make wise financial goals.
For me it was unreasonable to expect to go from saving $36 monthly to saving $500. Instead I stuck with an attainable challenge of saving $25 weekly. (Thats 200 beans by the end of the month!)
Step 2: Prepare for success!
Remember I mentioned how I had 0 discipline? I had to leave my credit & debit cards at home and only carry cash for things I needed each day. I also got in the habit of paying my bills as soon as I got paid. That way I didn’t even have the money to blow!
Step 3: Revisit The Plan Regularly.
I have monthly meetings with my “household” (which is just me right now til my Knight finds me). Monthly I revisit what went right, what went wrong, and if my goals were met. I also set goals and a budget for the following month as well as schedule the next month’s meeting.
I hope this was useful in helping you to #getyourfinanciallife
What are things you’ve done or lessons you’ve learned to improve your financial situation?
Happy Financial Freedom Friday!
No Distress Ladies