Knowing what you spend is essential to taking ownership of your money. We call this a Spending Plan – not a budget. It’s not about restricting or limiting yourself – it’s about knowing what you spend and intentionally allocating your money to achieve your goals.
Step 1: Know what you are spending money on right now.
Use your bank statement as the best indicator.
Step 2: Identify problem areas.
Can you identify any unnecessary, excessive, or misaligned expenses?
Tip
- Shop around for competitive insurers and rates every two years.
- You may be surprised how many subscriptions you have that you no longer use.
Step 3: Identify your yearly goals.
Step 4: Intentionally allocate your money to enable your goals.
Details
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