I hope that your holidays were AWESOME! You know, now is the time of year where people focus on goal setting and change. Everyone focuses on different aspects of their lives depending on how well or not so well the progress was in the previous year. Of course I will be helping you all get physically fit and healthy, but I wanted to take the time to provide you with a tool to assist you in becoming financially fit.
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It is very important that you are financially fit, because it provides you a way of life which includes food, shelter, leisure, entertainment. etc. I am by no means a consultant, accountant, or financial analyst. I am providing you this information from my own research and personal experience. There are key ingredients to consider when focusing on getting fit. They include:
- Being HONEST
- Setting your BUDGET
- Assessing your progress
- Adjusting your BUDGET
You have to write out all of your expenses down to how much you spend at the vending machine. Just be honest. You can even take your monthly bank statement and find out where all of your money is going. Some banks even provide you with a summary of your spending. Use this if it is available to you. Next, set a budget after you have reviewed your expenses. Write down how much you want to save per week or per month and then work from there. Once you set your budget, abide by it for a month and then assess your budgeting for the month. If changes need to be made, make those adjustments and follow the new budget for the next month. Once you have a sustainable budget in place, FOLLOW IT.
You have to hold yourself accountable.
Here is an example of a monthly tool you can download and use. There are plenty out there including daily and weekly tracking tools as well.
You have to start somewhere. Go ahead and get started today. There isn't a better time for you to begin. Start NOW.
Until Next Time,
