Tuesday, 21 August 2012 11:54
that to be successful at anything, you need to approach it with a plan and with
goals and deadlines to achieve them. This is true for your home and work life,
and it’s equally true with your financial life. Whenever you attempt to just
“wing it” at something, it never turns out as well as it would have had you spent
time with it and been prepared. Start managing your money and stop just
Build your knowledge
new skill requires you to learn as much as you can about it. Finances are the
same. Get a clear picture of your finances by getting a copy of your credit
report. Also, create an expense worksheet so you can see where your money is
going every month.
There are so
many great online tools to help you manage your finances. Use your financial
institutions online money budgeting software if available or use Mint or
Quicken. Start paying your bills online so you have an electronic history.
successful, you need something to work towards. Money is no different. If you
don’t have goals, you won’t have incentive to pay off debt, to save for your
children’s college or retirement. Start with where you see yourself in 5 years
and what you can do to get there.
Keep on track
If you have
direct deposit, write checks, pay bills and never view your account, you won’t
be able to take control of your finances. View your account statements, sign up
for account alerts, and review and update your budget regularly.
Ask for help
you have a coach; at work, you have a mentor. It helps to have someone that is
a financial accountability partner to keep you on track. Ask a friend who has
done well managing his/her finances for help. Your local credit union or bank
representative can be a great resource to share your struggles and goals with