Set a Goal. Make a List of Income and Expenses.
There is one thing of which I am certain: anticipation is worse than reality.
During my career, I've helped many people sort out their finances and figure out acceptable payment options. Nearly every person I've spoken with told me the process wasn't nearly as bad as they thought it would be.
Our bodies are predisposed for fight or flight. It's a natural reaction to stress. When it comes to finances, it's easy to throw away the bills without looking at them and ignore the bill collectors when they call. By the time people called me, they were on the verge of tears.
Don't bury your head in the sand. You're only delaying the inevitable.
Make a plan. Execute the plan. You'll feel better. Trust me.
We will start with baby steps. You can do this.
Set a goal for yourself. Do you want to pay off your student loans? Go on vacation? Maybe you just want to get out of debt. Whatever it is, be realistic. Not that world peace isn't admirable. It is. But maybe you should focus on something more manageable.
1.) Start making a list. At the top of the list, write down what your goal is.
You'd be surprised at how many people I've talked to who had no idea how much money they were spending every month on inconsequential things.
2.) Know what your income and living expenses are. Start by collecting all of your bills and your pay stubs.
Does your income fluctuate? Personally, I would use the lowest pay check to set your budget. You want to make sure your funds cover your expenses.
3.) Set aside 10% for savings. This part is hard. But it isn't impossible. If you can, set up an allotment with your employer, so it's taken directly from your paycheck and deposited into a savings account. Out of sight, out of mind. And if you treat it like it's a monthly bill and not an option, it'll be easier to manage.
I can already hear the naysayers. Stop with the negative talk. If you want to do something, you'll find a way to make it work. If you don't want to do it, no amount of reasoning will convince you otherwise.
Go back to your goal. What do you want? What are you willing to do to reach your goal?
During my career, I've helped many people sort out their finances and figure out acceptable payment options. Nearly every person I've spoken with told me the process wasn't nearly as bad as they thought it would be.
Our bodies are predisposed for fight or flight. It's a natural reaction to stress. When it comes to finances, it's easy to throw away the bills without looking at them and ignore the bill collectors when they call. By the time people called me, they were on the verge of tears.
Don't bury your head in the sand. You're only delaying the inevitable.
Make a plan. Execute the plan. You'll feel better. Trust me.
We will start with baby steps. You can do this.
Set a goal for yourself. Do you want to pay off your student loans? Go on vacation? Maybe you just want to get out of debt. Whatever it is, be realistic. Not that world peace isn't admirable. It is. But maybe you should focus on something more manageable.
1.) Start making a list. At the top of the list, write down what your goal is.
You'd be surprised at how many people I've talked to who had no idea how much money they were spending every month on inconsequential things.
2.) Know what your income and living expenses are. Start by collecting all of your bills and your pay stubs.
Does your income fluctuate? Personally, I would use the lowest pay check to set your budget. You want to make sure your funds cover your expenses.
3.) Set aside 10% for savings. This part is hard. But it isn't impossible. If you can, set up an allotment with your employer, so it's taken directly from your paycheck and deposited into a savings account. Out of sight, out of mind. And if you treat it like it's a monthly bill and not an option, it'll be easier to manage.
I can already hear the naysayers. Stop with the negative talk. If you want to do something, you'll find a way to make it work. If you don't want to do it, no amount of reasoning will convince you otherwise.
Go back to your goal. What do you want? What are you willing to do to reach your goal?
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