It’s time to get your financial house in order, and we have some ideas to get you there even faster―and even easier than you thought it would be. Take a peek at our financial to-do list and see what’s left to tackle on your end.
For the next 30 days, record everything you spend. You’ll become more aware of where your money is going. You can keep track in a simple note pad, spreadsheet or with an app from your phone.
Break down your spending by category and allot amounts for all your expenses and savings. It will help keep you focused on your money management.
List all of your assets (home, vehicles, investments, etc.) and subtract your debts (credit cards, lines of credit, loans, etc.) to calculate your net worth.
Look for ways to reduce and eliminate some expenses. Tracking your spending will help!
Put aside at least three months of basic living expenses in case of an emergency.
Work towards putting away 10% of your gross salary by paying yourself first.
It could be your car and home insurance by simply raising your deductible.
Check what your bank is paying you as well as the rates you’re being charged on your debts and ask if these rates can be increased (for interest you earn) or decreased.
Try making monthly contributions―especially if your employer matches your contribution. It’s a great way to save for your future!