\t\t\t\tIf any part of your New Year\u2019s resolutions has to do with money, you\u2019re in good company. So many people say they want to get their finances straight and get out of debt. But, there\u2019s a difference between saying and acting it. Are you ready to put your words into action? Check out the simple tips to get started below.<\/p>\n
Review Your Existing Financial Situation<\/b><\/p>\n
First, you don\u2019t know what you need to improve until you know your financial situation. Sit down with the last 12 months\u2019 of bank statements. Go through each statement carefully, adding up your income and expenses for each month.<\/p>\n
Do you see any trends as you tally up your totals? Do you find that you go over budget often \u2013 spending more than you make? That right, there could be a reason for your debt. Now, take out your credit<\/span> card statements \u2013 again, looking at the last 12 months of statements. What do you notice? Did you buy things you didn\u2019t need? Did you make minimum payments rather than paying your debts off in full? Take note of each of these habits as we move onto the next step.<\/p>\n Figure Out What\u2019s Important to You<\/b><\/p>\n Now it\u2019s time to think about what\u2019s important to you. After you\u2019ve looked at your statements, you know where your money went. How much of it resonates with you, and how much of it makes you frustrated that you spent your money that way?<\/p>\n This is a great place to start as you figure out what\u2019s important to you. Creating a spending plan shouldn\u2019t be about sacrificing or feeling like you can\u2019t do anything. It should be a good balance between fixed expenses, variable expenses, saving, and giving. Knowing what\u2019s important to you and what you aren\u2019t willing to give up is a big part of the puzzle.<\/p>\n Create a Budget That Includes Debt Reduction Plans<\/b><\/p>\n Once you know where you stand, it\u2019s time to create a budget. Don\u2019t let that be the dreaded \u2018b\u2019 word in your life. Creating a plan gives your money a job or a purpose. Would you get up out of bed every day without a plan? You might, but it would be a lot harder to be productive, right? The same is true for your money. You know how much you earn, now figure out how best to spend it.<\/p>\n Once you create your budget, put it on paper. Make sure you are flexible, though. Don\u2019t assume the first plan you set will solve all of your problems. You may have success in the first month, or you may find that you have to make some adjustments, and that\u2019s okay. It\u2019s about awareness, flexibility, and taking the steps necessary to put your plan in place.<\/p>\n Are you ready to get yourself out of debt in 2020? If it\u2019s more than about debt consolidation and more about debt elimination, we\u2019re here to help. Call Creditaid<\/span> at 204-987-6890 or email info@creditaid<\/span>.ca<\/a> for a FREE debt consultation. We\u2019ll help you see where you stand, what you need to do, and how soon you can say that you, too, are debt-free.\t\t<\/p>\n","protected":false},"excerpt":{"rendered":" If any part of your New Year\u2019s resolutions has to do with money, you\u2019re in good company. So many people say they want to get their finances straight and get out of debt. But, there\u2019s a difference between saying and acting it. Are you ready to put your words into action? Check out the simple … <\/p>\n