Finances - Day 13
Basics of Winning with Money:
Y’all know I LOVE me some baby steps!!👣🙌🏾
Well, These are what I call the baby steps BEFORE the baby steps. Let’s name them the “infant steps” for now, mmmm kay?
4 infant steps to do (*in order*)to set yourself up to win with the Baby Steps:
1. Stop creating debt…Forever: To get well, you gotta first stop the bleeding. It won't be easy to get ahead if you keep depleting your income with payments.
2. Get organized: List all of your fixed and variable expenses and debts. Include the monthly amounts, the day they are due and the full amount owed if it's a debt. Next, make a list of all your assets. How much do you have in savings, retirement, sellable items worth something, etc...Knowing this information will inform some of your future goals and decisions.
3. Get a budget: Don't feel like you have to do this all in one sitting. The first budget can take several days to get on paper. AND it can take a few months to tweak until it's actually running accurately and smoothly. The BEST and only budgeting tool I use is EveryDollar.com head over there and start your budget today.
4. Get support: Financial journeys can be A LOT, and you don't have to go it alone. Hang out with me here, and I'll give you content that keeps you motivated and moving forward confidently toward financial freedom.