The journey from having a baby with special needs to having a preteen with special needs and traveling through the Family Court system meant that I had to get organized with my money in order to prevent the total collapse of any plans I had to progress in life.
In seeking the organization of my finances while the rest of my life was in chaos, I learned that a change in perspective made all the difference.
The first change was that I learned that my job was not my career. That was a huge seismic shift in how I planned to build out my career to sustain my lifestyle. Next, I look at improving my investment approach.
If you want to maximize this 21-day challenge, consider these guided workbooks and planners that are filled with valuable cheat sheets and journal prompts.
However, the number one shift was the automation of how the money coming in would be going out.
Have you automated your investments and debts?
In this challenge, we have some actions for you to take to help you get control of any chaos in your financial life.
✔Start by deciding how much you can save each month. Every little bit helps!
http://https://www.youtube.com/watch?v=T1QMgkcmoM8
Tip #1 – Set up an automatic transfer once a month.
Tip #2 – Create an automatic transfer for a fixed amount (like $25, $50 or $100) from your salary account to a savings or investment account each month so you won’t forget to save!
✔Direct deposit from your paycheck to savings.
Tip #3 – Each pay period, have your employer deposit a certain amount into your savings account before the rest goes into your salary account. That way, you won’t even know what you’re missing!
Tip #4 – Max out retirement benefits with your employer.
Tip #5 – If your employer offers a retirement account, sign up and put in at least the minimum contribution to receive the full employer match. This is a great way to save for long-term goals like retirement.
Paying off debt? You can automate that, too!
✔Never pay a late fee again.
Tip #6 – Set up automatic payments toward your debt so you never have to worry about missing your monthly due date.
✔Pay off your debt as fast as possible.
Tip #7 – Maximize your budget for paying off debt faster and use automatic payments to help you stick to your schedule.
Tip # 8– Try rounding up your payment to the nearest hundred if you can—a little change will go a long way. The faster you pay off debt, the more you save on interest and fees.
✔Save money by paying off debt.
Tip #9– If you look at your budget and find that you’re spending all your extra money on debt, like loan and credit card payments, you might want to make a debt payoff plan.
Tip #10 – Once you get your debt payments down, all that extra money can go into savings for short- or long-term goals!
Hopefully, you are gaining great value from this challenge and so please feel free to share with your awesome circle of friends.
