7 Ways to Challenge Yourself Financially
Nov 23, 2022
It’s springtime! For me it’s allergy season (maybe some of you can relate), if you don’t have to deal with allergies, lucky you. The flowers are blooming, and we tend to have a little more sunshine out and it’s the perfect time to sit down and evaluate how to achieve all your financial goals. Here is a spring checklist of 6 things to do that can help you stay on track.
Step #1:
1.Review your budget and spending habits to determine the areas you can improve. Don't have a budget? If not, it's time to create one. Check out The Career Mompreneur Silver membership if you want a budget analysis only or sign up for The Gold Membership which is inclusive of a full financial plan with a budget plus more.
Step #2:
2. Review your monthly bills & statements to ensure you are being billed correctly and to figure out ways to reduce those monthly charges. Your gym membership, cell phone, and cable plans or other subscription plans are great places to start.
Step #3:
3. Debt management is key. You need to create a plan to get rid of your debt once and for all. Already got a plan. Check-in on and review your debt repayment progress to see how you are doing an if adjustments need to me made.
Step #4:
4. Focus on contributing to your rainy-day fund and making sure you have a solid financial foundation built, where you are able to tap into that savings account for “life just happens” emergencies like a flat tire or washer machine repair. This is not the fund for vacation trips.
Step #5:
5.Focus on contributing to your emergency fund and getting it to 3 to 6 months of your basic living expenses. If you have credit card debt, get your emergency fund to $1000 and focus on paying off that debt.
Step #6:
6.Check your credit if you haven't done so in the last 12 months. Also plan to monitor your credit frequently.
Step #7:
7. Check on your retirement and investment account portfolios and rebalance them if needed. If you don't have a retirement account, plan to contribute to your employer offering or check out tax deductible retirement offerings if you are a business owner. Confused? Get help from a financial expert and sign up for The Career Mompreneur Gold Membership and we will get you on track to achieving financial freedom.
Don’t forget to check out our website for more information about The Career Mompreneur (TCM) and how we can help you. If you are interested in joining our tribe of financial free individuals, sign up for the Gold Membership for individual financial planning and our Platinum Membership for business owners who are looking for both personal & business financial planning. We look forward to you joining the TCM Tribe.
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