Introduction: How to Take Control of Your Finances

| Budget, Finances, Personal

Introduction: How to Take Control of Your Finances

Does this sound like you? Do you have a hard time sticking to a budget? Does saving for your goals seem impossible? Do you pile up receipts and bank statements not knowing where your money went?

If so, it’s time to take control of your money and finances.

In this next series of blog posts, we’ll explore what is needed to get a handle on your finances and how to make sense of saving and budgeting. We’ll also explore how you can get to real financial prosperity and what it means to you.

Four Steps to Financial Prosperity

Did you know there are four steps to financial prosperity? They are:

  • Tracking
  • Targeting
  • Trimming
  • Training

All t’s! I did that on purpose. 🙂

We’ll explore each one on the way to helping you gain financial control all with the help of Canadian financial advisor Gail Vaz-Oxlade.

Gail Vaz-Oxlade, of Til Debt Do Us Part, Princess, not only has a series of TV shows, she has a plethora of books and a financial plan designed to help you with your finances. She’s made it fun to track and spend money by developing a series of steps to take and points you can earn to help you achieve financial success.

We’ll partly follow along with her approach outlined in My Money, My Choices to assist us on our financial journey. This is a great place to start, especially if you’re not ready to hire a financial planner. (But when you are, you can contact me.)

To begin, we’ll track six months of spending. I know that sounds like a loooong time but stick with me.

By doing this, you’ll get a clear picture of where your money goes each and every month. If you don’t want to wait that long, it’s just as useful to review your past six month’s worth of banks statements.

By examining the past six months of statements, we’ll calculate what you spend, and you’ll have a better idea of where your money goes and how much you have left each and every month.

This is a major step in figuring out a budget. But we’re not going to use that word.

Don’t call it a budget

The word budget has a negative connotation, especially if you’re already worried about money and unsure of how to get yourself on the right track. So we’re going to banish it from our vocabulary.

In the next blog post, we’ll dive into how to track your money and how best to review it to make sense of where you can target and then trim.

Excited? Me too. We’ll have lots of advice and tools to use that will help you take control of your money.

So stay tuned next time and come ready with six months of your financial statements.

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