You might think that because I am a numbers girl that I spend a lot of time tweaking my finances.
In reality, I spend less than an hour every other week looking at my personal finances.
I spend hours every day helping others with theirs. What can I say? It is my happy place!
Here is the secret:
When you have your personal finances dialed in, it does not take much time to update them.
Most of my income and outflow are automated so I do not have to think about much at all- just update it as things change (ie: insurance renewal time, minimum payments, etc). Which is good, because I am so busy that I would forget to pay things if left to my own devices!
I spend most of that hour checking my cash forecast and playing around with the “what ifs”. Mostly unnecessary, but I find it fun.
I also update my account balances that determine my dti and available credit. Once again, not really necessary, but it is like hopping on the scale every so often to verify that your pants are not lying.
When you are living paycheck-to-paycheck, not sure how you are going to pay all the bills and save a little, let alone put a little away for retirement…or a house…or a new car, you spend hours every day, whether consciously or unconsciously, thinking about money and your finances.
And, yet, by putting a few simple processes in place, you can change your financial future. It is not always easy or fast, but it is scientifically proven to work.
I have been in that place- completely underwater, wondering how on Earth I could pull it off- and I have been in a place of abundance. (actually, I have been in each place more than once!) And, in each instance I used the same tips and tricks to send myself to the next financial level.
How can you get from barely hanging on to being on solid ground?
Just ask me.
Or you may already know the answer from my previous posts.