When I was in distress, my finances were a whole hot mess! Early Twenties Kae was a financial advisor’s 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 future financial life.
I wasn’t alone, studies show roughly 77 million Americans, or 35 percent of adults with a credit file, have a report of debt in collections.
Somewhere after a nearly defaulted school loan and a declined credit card (or two), I decided it’s time I #GetMyFinancialLife together. I started by 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.
It’s unreasonable to expect to go from saving $36 monthly to saving $500. Instead stuck with an attainable challenge of saving maybe $25 weekly. (That’s 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.
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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? Tweet me.
Be bold. Live out loud & as always remember,
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