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February 10, 2023 4 min read
Alright folks, it's time to step up to the plate and take control of our finances! And don't worry about getting started: I've got you covered with five money hacks that'll get you on target and have you playing the money game like a pro in 2023.
Are you ready to score some serious financial touchdowns? Well the first step to achieving financial success is having a solid game plan, and there’s no way around it: whatever your financial goals, you need a budget to reach them.
Think of a monthly budget as your strategy that'll guide your finances down the field to the end zone (since you’re here, that means your goal is financial wellness). Budgeting is taking charge of your money - you get to call the shots and decide where each and every dollar goes.
Whether it's paying bills, saving for a big purchase, or putting money away for a sweet vacation, having a budget gives you control to strategize, make a plan, and follow it through.
So, gear up and get readyto budget like a pro athlete! And that’s not just a fun slogan: I’ve coached more NFL players than you’d believe. Trust me, once you have a solid game plan in place, you've taken your first step to financial victory.
Keeping track of your transactions gives you the information you need to make the right calls in your financial life. You know how important it is to keep a close eye on what's happening on the field, and it's the same with your finances. You need to know exactly where your money is going, just like the coach needs to know what's happening in each play.
So, every time you make a purchase or receive some money, make sure to log it in yourbudget planner. I meet people every day who have never budgeted before. Don’t spend time thinking about what you haven’t done: the good news is, today is a great day to start budgeting!
This way, you'll always know exactly where you stand and make sure you're staying within the budget you set at the beginning of the month (or before). And just like on the field, the more you practice, the better you get! So, keep logging those transactions and soon managing your spending will be second nature.
By tracking your transactions, you'll get a clearer picture of where your money is going and you can adjust your budget accordingly.
Let's remember you're not just budgeting for fun (though for plenty of people, it is fun). Once you sit down and take a serious look at what your financial goals are and what financial wellness means for you, it’s time to build those goals into your budget.
Most likely you have some idea of what your goals are. But you've never sat down and actually thought about getting to them. Without an actual plan for achieving these goals (AKA a budget) then goals are just dreams. Having a budget means having a plan that clearly shows the road map to getting to your goals and achieving financial wellness. Now that's a win!
Whether you want to pay off debt,increase your net worth, or upgrade your workout gear, your budget needs to reflect those goals.
Insurance is a crucial part of financial planning, and you want to make sure you have the right coverage for your needs. Don't let insurance premiums be a drain on your finances, or risk being underinsured in the event of an emergency. Reviewing your insurance coverage and making adjustments is a smart move that can help you stay financially secure.
The point of insurance is to make sure you're covered for life's big plays - just in case. Life is unpredictable, and it's important to be prepared for the unexpected. Make sure you have enough insurance to cover you in the event of a serious illness, injury, or death, without being overinsured or paying more than the going rate.
Taking the time to assess your insurance coverage will give you peace of mind and help you stay financially secure, no matter what life throws your way.
Picture this: you're the quarterback of your finances, with your budget as the playmaker. You call the shots and decide where each and every dollar goes, guiding your money towards your end zone - those financial goals you've been dreaming about.
Your budget should be a well-thought-out game plan, designed to help you score big on your money objectives. And just like a great quarterback, you need to be mindful of your moves and only take calculated risks. Don't waste your resources on things that won't bring you closer to your goal line. Instead, stick to the fundamentals, focus on your budget, and let your money do the heavy lifting towards your desired outcome.
You’ll be surprised at how fast purchases that you never even think about add up, like your morning coffee (or that triple shot caramel macchiato). It's like those pesky fouls in a basketball game that you don't think much of, but before you know it, they've added up and put you in a hole it’s hard to come back from.
With the right budgeting strategy, you'll be able to tackle any financial obstacle and score big on your money goals!
There’s no day like today: getting a grip on your finances sooner will increase your financial payoff in the future! With these 5 money hacks, you'll be making the right plays in the game of finances. So,let's get started and learn to score some financial wins!
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