Take Control of Your Money in 2021

Can you imagine how much money have passed through your hands in your entire life span? The thought is really scary.  Today I want to talk to you about taking control of your money so that you can take control of your future.  Nobody wants to stress over money issues but what are you doing to lessen the stress.  Some people say I am living paycheck to paycheck there is no extra left when I get paid, this is not true.  

Let's go over ?? actionable steps you can take right now to make your 2021 be the start of creating better money habits:

1) Create one financial goal that you can implement right now. (For example, I am going to put $20.00 a paycheck into a separate account to start my emergency fund.  I will have 500.00 in my emergency fund by the end of the year. My definition of an emergency is 1) car breaking down or 2) Job loss.)

2) Write down every category that your check goes to for the month. (Examples; rent, food, utilities, car insurance, fuel, subscriptions, clothes, etc. ) Once this is complete, ask yourself are there any categories you can work on eliminating that will assist with reaching your emergency fund goal sooner?

3) Put a budgeting system in place.  (Examples; This could be automatic such as setting aside some time to link all of your accounts to an app, paper& pencil budgeting for paydays, excel spreadsheet) Pick one and set a day every month to review.  

4) Budget for at least a month in advance.  (Example; If you get paid weekly you should at least have four budgets; if you get paid twice a month you should have at least two budgets; or if you get paid bi-weekly you should have at least two budgets sometimes three depending on the month.)

So what do you think? While hindsight is 20/20, the money that you have already earned and spent is unchangeable, what you do right now is what matters the most.

If you need more assistance or have questions feel free to check out my website thoroughly at www.investyoungmoney.com.