3 Things to Help Get Finances on Track

So, now we are all reevaluating out financial plans. We see the need because things are changing drastically. This is not time to panic. Panicking makes things so much worse. Lets look at some ways we can calmly make some good decisions about our money even in the midst of turmoil and stress.

Make a list

The first thing to do is prioritize spending. Look at what you have coming in and decide what really needs to go out. Some items that need to go out obviously are food, shelter, utilities. Do what you can to cover these necessities. If you have money left over, go beyond necessities and decide what can stay and what can go. For instance, auto and health insurance need to stay intact, but maybe you have subscription services you could do without for a few months until things get back on track.

Save Where You Can

We know that food is a necessity, but there are ways to keep cost down here. Shopping sales, cooking at home and eating leftovers are huge when it comes to saving money on food. I have also called my cable company and negotiated the price of my subscription in the past. Looking over our expenses, getting creative and finding where we can save even $5-$10 per month can make such a huge difference.

Write it Down

Look over your finances before then next week, or month begins is a huge step to getting things in order. Just by looking and seeing where your money goes will begin to give direction for where to put it. This process is called budgeting. As Dave Ramsey puts it “It’s deciding where your money should go instead of wondering where it went.” When my husband and I started doing this, we got so much encouragement even when things didn’t look great.

Simple but Not Easy

These steps can seem simple, but they aren’t always super easy. It takes a mindset shift. The personal finance game is 90% a mind game/mindset. Most of the game is not dependent on income. My husband and I have made a modest salary for our entire marriage, we are raising 3 kids. We are financially stable.

I would love to help you get on the right foot when it comes to personal finance. Please let me know how I can assist you and your family as you navigate the world of personal finance.

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