Money. It doesn’t grow on trees and it can’t buy happiness. But that’s OK, the best things in life are free, right?
Whilst these adages may have some place in life, the truth is money matters.
And when your trying to enact intentional change, it can be critical.
So what does one do when they are desperate for something new, but they are haunted by their past financial decisions?
If your ready to take control of your finances and position yourself to chase your dream, you need to prepare. This means getting educated.
Most of us know someone close to us who is good with money. Whether it’s friends or family the first step is to reach out to them and talk. Find out what they do and how they do it, pick their brain and decide what you can use. I was lucky enough to have a parent who could help guide me and build a solid framework.
For those who can’t do this, or are just hungry for more, there are a plethora of books, podcasts and YouTube videos that can help you.
One of the best resources I was recommended was The Barefoot Investor, and Scott’s Blog. The everyday budgeting and money management strategies in this book were a game changer for me, and are used by some of the most financially successful people I know.
Once you have given yourself a crash course in personal finance it’s time to implement a budget and start sticking to it. There are all manner of apps, programs and browser based tools to help you do this, but I found the easiest was a good old excel spreadsheet.
Here is a template I have created to help get you started!
It’s now a good time to make a list of all the debt and bills you have as it will soon be time go on the offensive, tackle your debt and reduce your cost of living.
After you have armed yourself with these tools it’s time to start implementing them and building the habit. This is just the start of the process but if you stick to the basics and build a solid foundation. With this foundation you will be able to launch yourself in the direction you need to be headed to reach your goals and make positive changes in your life!