I spent most of 2018 reading and listening to a religious podcast.
It was a decision I made at the end of 2017.
I learned a lot and grew spiritually.
But as I approached 2019, I realized that my financial health required the same dedication and attention to take it to the next level.
Things won’t change until you decide to change!
Did you know that 76% of Americans are living paycheck to paycheck?
That’s a very big number!!
The problem?
We’ve grown accustomed to debt!
It’s now the “new normal.”
Two mortgages, multiple car payments and maxed out credit cards…..
I’ve been there.
Over the years, I dug myself a deep hole
But I came out.
Now I’m on the mend. And it feels really good!
The journey was not easy. I had many obstacles to overcome.
Here are 3:
- Limiting beliefs – I had to clear up a few misconceptions and gain a better perspective.
- Herd mentality – I had to lose the sheep behavior and gain my eagle’s wings.
- Not having a plan – I had to create a plan and commit to it with gazelle intensity.
It’s wasn’t easy…. but it was worth it!!
What about you……
Are you satisfied with the temperature of your financial health?
Do you have goals?
Do you have plans?
Are you on track?
It’s important to stop and check the pulse of your finances.
Here are 4 areas to start with:
- Your income – The goal of your take-home pay is to spend less than you earn. If you’re running dry each month, consider how you can trim spending or make more money.
- Your debt – Your debt load includes everything you owe, such as student loan, credit card bills, car payments, and mortgage balances. This is where most of us struggle.
- Your emergency fund – This is a cash stash that you can draw from if you have an unexpected expense. Don’t have one? Start setting aside a little bit each month in a savings or money market account for that sure-to-come rainy day.
- Your retirement savings – It’s unlikely that you’ll work forever, which means that one day, you’ll no longer have income the way you do now. That makes saving for retirement a top financial priority. The earlier you start setting aside money in a 401(k), IRA, or other retirement savings account, the better.
Having a plan and a process will help you meet your financial goals and keep the temperature of your financial health in the green zone.
Here’s a resource that helped me get back on my feet: The 7 Baby Steps by Dave Ramsey
The 7 Baby Steps will show you how to save for emergencies, pay off all your debt for good, and build wealth. It’s not a fairy tale or a nice story for someone else. This is a proven, practical way for you to change your life step by step.
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Until next time…..
Money is only a tool. It will take you wherever you wish, but it will not replace you as the driver. – Ayn Rand
Agree or disagree? I love your comments! So please let me know your thoughts in the comment section below.
I look forward to hearing from you!!!
Althea
I help Busy Nurses & Professionals Become Good Stewards of Their Financial Resources, and Show Them How to Practice Wise Financial Discipleship to Create an Amazing Life and Thrive!
PS. Financially, most of us know what to do; we just have trouble doing it. That’s where a coach can help. CONTACT ME for a FREE 15-minute consult.
