Your Financial Priority List
Finances can seem so overwhelming and for most individuals, you are in a constant state of "What should I do first?" so I thought that in the month of February, I would deliver to you what I feel is a true financial priority list. This should serve to guide you as you navigate your personal finances and my desire is that it also introduces you to some opportunities that you were unaware of until reading it.
So let’s dive into the three things I believe everyone should look at today and do not worry if you are not able to answer yes to each. The goal is progress here, not perfection. If any of these areas seem to be difficult for you to navigate, reach out and speak with someone on the Life after Debt team so we can review your scenario and give guidance based on what we see around these areas.
01.
Setting up an emergency fund
For a large part of my life, this was not ever possible. I lived paycheck to paycheck and always felt like I was behind but once I got in a rhythm of setting it and forgetting it by setting auto draft and having a small portion go into a true emergency fund through a High Yield Savings Account. I became addicted to the process and it took the thinking out of it. Why a high-yield savings account you ask? Two reasons, one it will make your money work for you and present a higher return on your money. Two, it is not as easy to withdraw it when it is online and not down the road via an ATM. The less accessible money becomes the faster it grows.
I know that is hard to believe but something mentally shifts when you cannot access it as easily. This account will grow over time and will be a true emergency fund. The goal of each individual should be to have at least 3 full months of all living expenses and only to use it in an Emergency situation. Do yourself a favor and outline your true definition of an emergency and keep it to reflect on prior to pulling money out to make sure you are following your own guidelines.
02.
eliminate debt
This one thing is costing you everything. When you really grasp that only 1% goes towards your true balance and the rest goes to interest, you will start to realize all the things you could be doing with the money you are paying because you borrowed money. It is truly hard to swallow. The ultimate goal is to get back to ground zero and I can show you how to do just that if you set up a free clarity call with me. My goal is to listen and curate a plan that will get you out of your current situation and flip your script to build wealth.
I know it seems like a mountain to climb but I promise that one call with me and you will see yourself on the other side of the mountain with a clear path forward in a lot less time. The goal is to hit the reset button and get out of any unsecured credit card debt you are currently carrying and I will show you how.
03.
crave to save
Funny story. When I met Ryan, I had no idea what saving even looked like but I so admired Ryan and how he was so diligent with his savings and you would never know it. He showed me the power of saving and shortly after, I got to the point where I wanted and got excited to save as much as I did about buying a new handbag or pair of shoes because I craved freedom and financial stability so much that the craving led my savings pattern and I did not stop until I hit the goal I set out for myself and guess what... 10 years later and I have not touched that savings account for any reason but I have had the pleasure of watching it grow over time. That is the name of the game. You just have to start somewhere and be consistent. The more you can automate the process, the easier it will become and you too will crave to save.
I hope you find these three priorities I have set for myself helpful and as always, I am here to help, guide and direct. I have been where you are, I have come out of nothing and turned it into millions so I know what it takes and there is nothing standing in your way of doing the same, except YOU. Reach out. It is truly that easy...
