Challenge to Change
We have all heard the saying, if you want a
different result you need to do something different to get it. That is
very true, but it is not comfortable.
If you want to lose weight, you have to change your eating and exercise
habits. I can give you a few pointers on those things but I will just
stick with your personal finance. If you are tired of the same pattern
your life is in, try a couple of quick changes and stick to them. If
they are not working change them. I will issue you a budget challenge, a
debt challenge and a saving challenge. Pick an area that you want to
work on and dive in. Here they go-
1. Budget Challenge- If you dont
live on a written budget every month this may be for you. First list
all of your expenses, debts, bills, hobbies etc. List them in order of
importance. (Hint-Food, clothing, shelter, Transportation and utilities
most important.) Set the amounts you need to spend and make sure you
stick to them. Remember this concept that the government cannot, you
cannot spend more money than you make. When you have spent every dollar
you made, on paper, you are finished. If you come up short you have
to either make more money or cut some categories. Download a budget here if you like.
2. Debt Challenge-
Maybe you are on a budget and you have been on cruse control for the
summer and have not attacked your debts the way you like. List all of
your debts smallest to largest, squeeze all of the money you can out of
the budget and attack the smallest debt like ants at a picnic!! To give
yourself a little motivation add up all of your non- mortgage monthly
debt payments and see how much you could be keeping yourself instead of
sending it to others. Once you are good and mad throw everything you
can at the smallest debt and start knocking it out. Remember debt robs
you of the ability to build wealth. Visa has a plan for your money make
your plan better than theirs.
3. Saving-
With school coming up in less than a month, and the holidays around the
corner, you will need to buy things. The best purchase plan is to pay
for it and be done. You cannot wait until you make more money to save
because you will always spend it before it gets in the savings account.
Put your savings in your budget first and pay yourself first.
Determine what you will need to have for what ever you are saving for
and sacrifice to get there. The holidays are much more fun when they
are paid for!!
Let me know if you have any
questions. Also let me know how you do, it helps to here the successes
of others who have the same struggles. It is encouraging!!
Tim West
706-840-0992
Quotes to think about:
"You can't build a reputation on what you're GOING to do." Henry Ford
A gem cannot be polished without friction, nor people perfected without trials.
We cannot start over, but we can begin now, and make a new beginning" Zig Ziglar
When everything is coming your way, you're in the wrong lane. Stephen Wright
