Three Simple Ways to Build a Strong Financial Foundation
No one would expect a house with a bad foundation to last for long, right?
Well the same is true for your health, relationships, spirituality, and wealth.
It is worth putting a little extra time and attention into your foundation so you have something solid to build on.
Here are three simple ways to build a strong financial foundation:
1. Know where you are
Who do you owe?
How much do you owe?
When are payments due?
When will it be paid off?
What is the interest rate?
What is your average credit score?
Who owes you?
How much do they owe you?
When will you be paid?
2. Know where you want to go
What do you want your life to look like?
What will you be doing?
How will you feel?
Where will you be?
Can you see, smell, feel, taste, and touch it?
3. How are you going to get there?
Break your goals down into smaller steps, and then smaller still- so you have daily, periodic, and long-term goals.
Make small adjustments to stay on course.
Pivot or detour as necessary, but do not give up.
Use tools, like budgets, allocations, and cash forecasts, to leverage your money and make it work harder for you.
Use your destination as inspiration to keep you taking those steps, even when willpower is low or other things try to distract you.
What are your big goals?