It's Time for A Financial Check In

 

Every few months, it's a good idea to take the time to do a financial check in with yourself.  Today, I'm going to give you some ideas of how to do just that and why each part of it is so important and beneficial to you in the long run. 


Evaluate Your Spending

Take a good look at where your money has been going in the last couple of months. Are you spending way too much on impulse buys? Look at the types of things your buying and decide if you need to STOP or if you should create a new budget category for this type of spending.  Little purchases here and there may not seem to bad but when you total them up you can see if they're getting out of control of not. 

 

Check Your Budget

Are you keeping with your budget? Do things need changed like adding money to a certain category or eliminating another? Go through your budget category by category and see where you can make any changes. 

 

Evaluate Your Debt

If you have been paying down your debt, great job, but look again to see if there's extra money you can pull together every month to put towards the debt to pay it down even faster.  See if there's small debts you can eliminate right away so that you feel less overwhelmed by whom you owe money to.  If you have any personal loans from friends or family, pay those back ASAP! 

 

Negotiate Bills

Now is a great time to try to shop for lower electric bill rates, negotiate cable and internet bill discounts, and see if you can change any of your subscriptions or any kind of plans you have to save money on them. 

 

Check Your Savings

Whether it's one savings account, or several for different reasons, check them and make sure you are putting enough away in them.  If you haven't been reaching your savings goals as quickly as you hoped, see if it's because you're spending excessively in places you can cut back. 

 

Make Some Money

Go through your home and see what items you have that you can sell for some extra cash to go towards your financial goals.  Holiday decor is a great category to purge through in your storage closets. People are always looking to buy holiday stuff once we get to October, November, and December.  

Hopefully these tips help you do a financial check in every few months and you can actually improve your financial habits by keeping yourself accountable.

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