Cheryl’s Conscious Money Plan
1. Make peace with your money – It’s time to create a more positive association with money. Begin by making your own list of 20 things you can do to make bill paying, balancing accounts, or working on your investments more enjoyable. For example, you might keep a gratitude list in your checkbook to remind you of what you do have when paying bills, or have one small piece of really good chocolate ready as your reward when you finish.
2. Pull your head from the sand – Facing the truth about the current state of your financial health is the most important step in reclaiming your power. Take out a pad of paper and answer the following questions: How much are you worth? This includes annual income, money in savings (including retirement plans), and the value of assets like a home or car. How much do you owe? This includes charge-card balances, car loans, mortgages, and lines of credit. How much does it cost you to live? This amount includes your monthly expenses like rent or mortgage, utilities, insurance, gym memberships, as well as daily spending habits on everything from the morning newspaper to lunch during work.
3. Plan for the future – Find a good financial planner and bring your financial assessment to your first meeting. Ask family and friends for referrals, or find certified financial planners at cfp.net/search.
Source: http://journals.aol.com/fvfkate/
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