Will 2022 be the year that you finally get control of your finances? Will you create a plan and make positive progress to get out of debt and begin building wealth for the future?
Many people answer these questions with a resounding, “YES!”, but they have no idea where to start. You would be surprised at the number of people I coach who know that they are in financial trouble, but they have no idea how to approach resolving their financial problems. Many of them feel completely hopeless and defeated, and sincerely believe that they are beyond the point of no return. If that is how you feel, take heart! There is hope for a bright and sunny future.
Dealing with your finances can seem overwhelming, but it’s really not if we take time to break the process into understandable steps:
- The first step is to get an accurate overview of your current financial situation, considering things like how much money you make each month, how much you spend, where all the money is going, and do you have any money left over at the end of the month. (Note: I have a simple spreadsheet that makes this process easy.)
- Next, you must understand the level and composition of your debt (your mortgage, car loans, credit cards, and student loans) — and how much you owe on each and the interest rates you are paying.
- Step three is all about getting creative in increasing your income and reducing your expenses in order to create the greatest monthly positive cash flow possible.
- In step four, we create a prioritized plan for systematically reducing and eliminating your debt over time — and then you discipline yourself to consistently work your plan, month after month.
As a Dave Ramsey Certified Master Financial Coach, I’ve helped many people achieve financial freedom. I can help you, too! So if achieving financial freedom seems too challenging for you, lets talk. 2022 can be your year to begin your journey toward financial freedom and beginning to create the life you’ve always dreamed about living.