If you look away when walking by the financial section in the bookstore, you probably have money issues. It is time to start reading about how money works and get used to the idea of making more money, investing that money and making it grow! When you first start looking into personal financial planning topics, the amount of information can be overwhelming. If you’re not careful, you can quickly find yourself drowning in too much information all at once. Stop! Take a moment and refocus. Take it one step at a time. I want to make this as simple for you as possible.
How do I to start?
The biggest problem most people face when starting their journey to financial wellness is simply figuring out where to begin. There are so many ways you could approach this, but creating a wealth building framework is the best place to start.
There are three aspects that will go into this wealth building framework: your Income, your expenses, and savings/investments. This is what I call Your Wealth Building Framework
When you look at it broken down like this, it becomes much simpler. If you increase your income by any amount, decrease your expenses by any amount, and invest wisely, you will slowly begin to see positive results.
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For some, increasing your financial wellbeing is as simple as increasing your income while not increasing your spending. You can then use the extra money you earn to invest in your financial future, purchase a home, and pay off debt… anything that will make you become more financially secure and “well”.
The Must-Dos to increase financial wellness
While you assess your financial wellbeing, here are some quick financial tips to get you on the right path
- Set a budget and stick to it. Period
- If you are a tither, then also tithe your 10%
- Check on your finances daily. Spending just a few minutes each day tracking your financial transactions keeps your money on your mind. You will begin to spend less and save more when you do this.
- Set financial goals using numbers AND dates. Make big goals and break them down into bite-sized goals.
- Banish all toxic money thoughts, such as “I’ll never get this paid off”.
- Appreciate what you have now, versus what you might buy in the future.
- Do NOT cosign for anyone. If the person misses payments, it will destroy your credit and your relationship with that person.
- Shop alone. Have you ever had a friend say, “That is so cute, you should buy it?” Socialize in other ways and you will not buy things you will regret.
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To Your Wellness
P.S. For more info on Financial Wellness Grab yourself a copy of The Wellnesses Lifestyle HERE.
Wanda
Have a Blessed and Wellness Day
