Plug those spending holes

Financial Planning

This is one in a series of 10 posts to help you get, and remain, financially healthy. It’s best to start at this post. [click here]

Okay… now that you have a cash flow statement, take some time and study it. Are you spending way too much on that coffee? What about going out to eat… have you thought about cooking at home a little more? Look in your closet… is it full of clothes with tags still hanging on them?

The more you look over your cash flow statement the more you begin to see areas where you can improve how you spend money.

Here is a quick tip… “Forget about the Joneses,” you know those people you are always trying to impress with the latest and greatest purchases. Keeping up with the Joneses is an act in futility… trust me, it usually never ends well. What you end up with is a bunch of stuff and a lot of debt… not good.

Bottom line… it’s important to pay attention to where and to how you spend your hard earned money.

It will not take long to get positive results with this. Making a small change here and there will add up over the long run… and the results will allow you to use your hard earned money more wisely.

Next we’re going to take inventory of your debt and get a plan to pay it off.