When some people think about money, they get that uneasy, pit in their stomach kind of feeling. According to Dave Ramsey, 70% of Americans are living paycheck to paycheck (daveramsey.com). Having little to no savings and instead using credit cards for “emergencies” is typical. So how does a person even begin to get ahead and win with money?
The first thing to think about is what do you want to accomplish? Is it getting money in the bank instead of spending every penny of your paycheck? Is it paying off those student loans that have been around so long they feel like a family pet? No matter what your priority may be, you have to set a goal and make sure it’s S.M.A.R.T.:
You want to be sure it’s not like all those New Year’s resolutions you set and didn’t keep.
Write it Down
Once you’ve established what your goal is, write it down. Put it in a place where you will see it daily – hang it on your fridge or make it your computer background. The point is to be reminded of your goal daily to help keep you on track.
Find someone you trust to hold you accountable. Ask them to check in on you periodically to see how you’re doing. Maybe this is your spouse, parent, or best friend. Make sure they realize how important it is to you to reach your goal.
Don’t expect to accomplish your goal tomorrow. Take baby steps. The best thing I ever did for myself financially was to follow Dave Ramsey’s seven baby steps. It lit a fire under me and I knocked out steps 1-3 in just under three years. I’ll tell you all about my $35,000 in student loans next month.
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Content should not be regarded as a complete analysis of the subjects discussed. All expressions of opinion reflect the judgment of the author on the date of the publication and are subject to change. Content should not be viewed as personalized investment advice. All investment strategies have the potential for profit or loss.
Working with an advisor that is part of the Dave Ramsey Endorsed Local Provider (ELP) network cannot guarantee investment success or that financial goals will be achieved. There can be no assurance that working with a Dave Ramsey ELP will produce or achieve better results than working with an advisor not affiliated with the ELP program. Advisors that participate in this program pay a fee to belong to the program for client leads that are provided. Dave Ramsey and the Dave Ramsey Endorsed Local Provider program is not affiliated with Classic, LLC and is not sponsored or endorsed by Classic, LLC.