All of us want o be free. But we're not free if our money controls us because we don't control it with wisdom. Here are some steps to take to be financially free.
Have a budget- If you've know a child who didn't need many rules because they were already compliant, then you have seen our first idea put into practice. Self-control goes a long way in being free. In finance that means have a budget. You may not LIKE where all your money goes. But at least you will KNOW where it goes and that makes you the boss of it.
Stop spending - At least stop spending out of a sense of entitlement or other emotions. If your emotions dictate actions that are not in keeping with your plan, you are only a slave to them. And last time I checked, no one thought a slave was free.
Know yourself- You will have more success when you are free to recognize that YOU way of budgeting, your priorities and those of your family", may differ from others. Make you budget, make your money method, reflect your money personality.
Track you money- Having a budget is one thing. But it's your money's PLAN for where things will go. You'll need to track your money to see if it indeed went where you hoped and planned it to go. Maybe there was an emergency or a time of weakness and things went awry. That leads us to the next two steps.
Have an emergency fund- Either deposit a chunk of money to get this started and make regular contributions, or make tiny deposits when you're able. But aim towards this goal as soon as you can because though you will not have enough saved for every emergency, you will make progress. And eventually, perhaps many years from now, but eventually, you will be cozy.
When you fail - dust yourself off and get back on track.
Citations:
Marion Syversen, MBA
NorumbegaFinancial
207.862.2952
Marion@NorumbegaFinancial.com
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