It can be hard to take that first step to improve your financial situation. You might say it is impossible or it is too far away but once you start it will seem like a breeze.
The first step is awareness. It starts with either recognizing there is a problem or a new financial goal you want to reach. You have to know that these goals are possible and you can achieve them with the right resources.
- Take a step back and think about the life you want to have
- Plan out the specific tasks you need to get there
- It’s also good to read financial success stories to see that it truly is possible. It will give you encouragement on your own successes
Step two is to take control of your money. Start a budget and track your money. This will make you accountable and keep you on track. You will be able to see exactly where your money is going and help you make better and informed financial decisions. Here’s what you should gather up to start your monthly budget.
- Pay stubs
- Credit card bills
- All debt payments
- Home and utility expenses
- Healthy and medical care bills
Step three is having financial security. After taking control of you day-today spending it is time to ensure you’re protected in the future. It also makes it easier to pursue your life goals by decreasing the risk if something doesn’t work out. Having a three month savings in an emergency fund is a good goal. Start small and work your way up. This can be used when something unfortunately unexpected comes your way. The most important part is to stay on it.
If you don’t have life insurance coverage now would be a great time to look into getting one. If something would happen life insurance will provide instant liquid and adequate funds to help your family.
Step four is having financial freedom. This isn’t about having a certain amount of money but having the freedom to make decisions based on your happiness. It allows you to make decisions without worrying about the financial consequences of if you do. You will have less stress in your life and feel more confident with yourself and your decisions. The way to get this is getting rid of your debt and investing. You will need patience on getting here and it will take a while. Don’t change in a dramatic way before you are ready it isn’t a race. Patience helps you live with the reality of true rewards.
If you need help taking control of your money and setting up a plan for financial security Credit Advisors Foundation is here to help! Our counselors will help you find look through your options and find out which will work best for you. Our debt management program is very successful for reaching goals.
The month of April includes MoneySmart week. We will be holding presentations at various Omaha Public Library locations.
- April 21st at 2pm: The Keys to Home Ownership- Washington Branch
- April 24th at 2pm: Identity Theft and Beyond- Florence Branch
- April 25th at 6:30pm: Identity Theft and Beyond- Millard Branch
- April 26th at 6:30pm: Dealing with Student Loans- Elkhorn Branch
To learn more about these presentations click here for our community presentations calendar.
Don’t forget that you can check your DMP progress at any time in the CLIENT PORTAL.
Log in with the link below to update your balances, check your payment history and see account statuses.
Call and ask about your personalized plan at 1.800.942.9027
For on-line assistance: www.creditadvisors.org