What steps can you take towards your financial goals?

A few ideas…

Add to or start your savings plan

The power of compounding works best over time. If you haven’t already done so, start your retirement savings plan and automate the process so you don’t have to think about it. We call this ‘paying yourself first’! If your savings are automatically deducted like those other bills and subscriptions (used or unused), sticking with the process will be much easier.

Create a monthly family meeting around money

Create and hold that monthly meeting; it’s important to follow through and do so with an open mind. If there is more than one person involved in your money plans, there most likely will be more than one opinion about what is important and the best path forward.

Track your spending for a month

Tracking your spending can be simplified if all your transactions are logged through your bank account or an online tool like Mint. Monitoring this for over a month or even doing a quick review over a year can be illuminating. My experience with clients is that this process often reveals surprises, such as spending more than was expected in a particular category. Nothing is wrong with that, but it can be super helpful to be aware of it if you want to free up cash for a different purpose.

Any step towards your financial independence, no matter how small, is a step in the right direction!

Remember, if this is a challenging area for you to tackle, try adding some playful curiosity to the process. As friend and author Sara Pruett Arey put it, you can start with ‘what if it were possible …’ which is more freeing than ‘I should…’.

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