Step 1
Successful money management is a process. Take the first step.
Step 2
This quick quiz will help you find your starting point.
Step 3
Sorting out your paperwork will make record keeping a whole lot easier and set yourself up for success.
Step 4
Knowing where you are today can help you determine the best path towards helping you meet your financial priorities.
Step 5
Good credit is essential. Know how to check this.
Step 6
Determining your net worth sounds harder than it really is.
Step 7
It is time to ask yourself, is your debt too much debt?
Step 8
Identifying needs and wants keeps you focused on what matters most!
Step 9
Don’t just set goals, set SMART goals
Step 10
Develop time frames around your SMART goals and map them out.
Step 11
Paying off debt is a short term financial goal that will free up cashflow.
Step 12
Emergency savings make the difference between a financial setback and a financial disaster.
Step 13
Saving for retirement is a non negotiable financial goal.
Step 14
Make a commitment to stay on track.
Step 15
: Now you know what you need to do, here is how to start
Step 16
Find out where all your money is going!
Step 17
Identify your fixed expenses.
Step 18
Plan for your periodic expenses.
Step 19
Create your spending plan.
Step 20
Small changes can make big savings.
Step 21
Saving money on your groceries, is one of the fastest and easiest ways to improve your bottom line.
Step 22
Know where you want to be and how you will get there
Step 23
Give yourself some peace of mind by making sure your family is on some firm financial footing
Step 24
Commit to making informed borrowing decisions, and understand the costs.
Step 25
To stay motivated, acknowledge the benefits you will experience as a result of your efforts.
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Step 7:
Do You Pass The Debt Test?
Freedom from debt is an achievable goal for every family. The first step in regaining control is to take an honest look at your existing obligations. Take the following debt test to determine if you need a plan to reduce your debt..
The Debt Test
Is an increasing percentage of your income going towards paying down debts?
Is your savings cushion inadequate or nonexistent?
Are you near or at the limit of your lines of credit?
Can you only make the minimum payments on your charge accounts?
Are you often late with bill payments?
Are you paying bills with money earmarked for something else?
Are you using credit to pay for items you used to buy with cash?
If you lost your job, would you be under immediate financial strain?
Are you unsure about how much you owe?
Are you being threatened by collectors with possible legal action?
A ‘yes’ to any of these questions is a sign that you may need to make debt payoff a priority.
It is time to ask yourself, is your debt too much debt?
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