4 To Do's Before you Start a Budget Program
Congratulations you have already conquered step one and that
is identifying that you need guidance. Creating a budget can be difficult work,
but with the right preparation you will be able to create one with ease. I’ll
teach you to understand your money and manage it so that money works for and
not the other way around. No one likes to chase money and these preps will help
you become the money savvy queen you aspire to be.
-
Many of us deny our problems until
they become an issue, and that happens right around the time your bill
reminders pop up or your account has less than 50 dollars. Then we get paid or
get a loan from a friend and we are back on our high horse. Then sadly to say
once that’s gone we are back at the beginning. It’s a deadly cycle that we put
ourselves through.
I noticed this was the trend among
my clients and I wanted to develop a plan to help them transition into
financial responsibility. Which brings us to the next few tips on how to prep
for a financial plan.
2)
Mindset is this biggest block individuals have to
overcome in order to be successful in changing their spending habits. You must
take 2-3 days preparing your mind and your body. This no different than
prepping yourself for fast. Everyone knows you never just jump into it head
first or you end up ill. The days leading up to a fast you start to wean
yourself off of the fatty foods and start eating cleaner.
A financial plan has similar
devices. The days leading up to the change you want to make sure this what you
whole heartily want to do. Financial
stability is a way of life, it’s not a quick fix that lasts forever. You have
to be ready for the changes you will have to endure.
3)
This is a tough one, but during the days leading
up to your financial change you MUST go on a spending freeze. This will allow
any pending or processing inquiries to clear before you start. The spending
freeze involves only using money for necessities; therefore, this is not the
time for fast food outings and shopping.
4)
Lastly, research is key to a smooth process.
Before you start the process take the time to gather a few items. Whether you
are going at this alone or meeting with a professional you put be prepared.
Gather the following items:
a.
Previous year taxes
b.
Last 2 paychecks
c.
Last 2 bank statements
d.
All bill
e.
Current amounts of bank accounts
f.
Retirement balances
g.
Debt-Credit report
h.
Financial goals for 6mths, 1year & 5-10years(can
be done w/ a professional)
Use these tools and you will be ready to make the needed
financial changes. If you fall off the wagon revisit these simple tools to get
you back on track. For more tips on financial matters and all things in between
visit www.sultrydash.blogspot.com.
All coaching inquiries please email Kiyah@intrinsicgrowthlifecoaching.com
