How Focus Can Change Your Life - Part 2
Last week, we discussed how focus can change your life in the financial realm. Maybe you are stumped as far as where to get started with your finances. Here are some simple steps to get you started today.
1. Start saving a small amount of money in a savings account for car repairs and other emergencies that may come up while you are trying to pay down debt. This account can range from $500-1000 and should only be used for emergencies.
2. List all your debts. Pay the minimums on everything except for one debt. Put all your focus and action on this debt, to get it paid off. Then, pick the next debt to focus on and do the same. Keep going until all debts are paid off.
3. Create a budget. You can go to Google.com and type “free budget worksheets” to find free budget sheets to use or simply call a credit-counseling agency. They can do a budget with you over the phone or direct you to educational materials that include budget worksheets.
4. Set your savings goals. Saving for college or retirement? When do you want to have that amount of money saved? Implement these savings amounts into your budget.
By mapping out steps and taking action, you are well on way to financial independence.
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About the Author
SelenaSelena Ray has more than 2 years experience in the debt management industry and more than 10 years of personal experience with credit and debt. She has tested her financial advice and educational tips in her own personal experiences of managing a budget and tackling debt. She provides insights and education in the fields of debt, money management, and credit reports. Selena holds a bachelors degree from the University of North Carolina at Chapel Hill and counselor certification from the Center for Financial Certifications.
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CESI is a not-for-profit organization for consumers in search of financial independence and freedom from debt. We offer a wide range of services from debt management to credit counseling to financial education. And We're dedicated to helping you find the debt solutions that work for your situation. More...
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