Are You Fighting An Uphill Battle With Your Finances?

Have you ever noticed that every kid on the playground always wants to go up the slide backwards? I think that is in our human nature to want to go against the grain like that. I think that it adds helps to instill our rebel mentality that helps make us unique, even at such a young age.

But, are you fighting the same uphill battle against the grain with your finances as well? Many of us are.We are on a cycle of debt, living paycheck to paycheck, and often do not know how to get off the hamster wheel that makes up our lives.

It is possible to stop going against the grain. Here are some great action steps to take back control.

FOUR STEPS TO TAKE CONTROL OF YOUR FINANCES

STOP ADDING TO YOUR DEBT
At some point in your life, you have to say enough is enough. There is a time when you hit a brick wall. Many times it is not when you chose to stop adding debt. Sometimes things come crashing down around you. But, the sooner that you realize that you have a problem, things will get better. So, make today the day that you stop adding to your debt.

SET UP A WRITTEN MONTHLY BUDGET
Every family no matter how big or how small needs to be on a written monthly budget. Like Dave Ramsey always says, every dollar that you make needs to have a name. At the beginning of the month, you need to sit down and list out where every single dollar is going. Spend every dollar on paper every month before the month begins.

MAKE SAVING AUTOMATIC
The best way to get into the habit of saving money is to make it automatic. Almost everyone has heard the phrase, “pay yourself first”. You should set up automatic withdraws from either your bank account or directly from your paycheck before it even hits your bank account. Start small and work your way up to larger deposits every month.

Read the full article at: https://moneyqanda.com/fighting-uphill-battle-finances/ 

February 12 2018 By Hank Coleman - moneyqanda Financial Planning