Doug deals with people and finances on a daily basis. One of the things he has noticed is that very few people are taught how to manage their money. Frequently people admit to being so lost they don’t even know where to begin when it comes to money. On today’s show Doug and Tammie share a 14 step plan to help you transform your finances and better manage your money.
14 Steps:
1. Analyze your income vs expenses
2. Choose a system to track your spending
3. Add up your debt
4. Create a budget
5. Decide what you’re saving for
6. Free up money to save
7. Make saving automatic
8. Find one way to earn more
9. Review your investment accounts
10. Get your credit score
11. Take a hard look at your bank account setup
- NSF’s and overdrafts
- Fees
12. Organize documents and passwords
13. Get appropriately insured
- Property and Casualty
- Medical, Dental
- Disability
- Life Insurance
14. Plan out your calendar for the future
- Create a new habit
- Map out monthly, quarterly, and yearly expenses
- What unexpected expenses can you predict
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