I’m not a fan of resolutions in the new year, but a good plan that you work hard at executing will get results – and I’m all for a good plan. Take some time to evaluate your finances from top to bottom and see where you need to improve. Whether you think so or not, you need a plan. If you already have one, revisit it to make sure it still works for your current situation. Work on your plan today!
If you need a financial coach to help you organize your finances, email me at or check out my website for additional information www.achievefc.com. I provide a variety of services to individuals, families, groups, and civic organizations.
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I am a financial coach that focuses on improving personal finance behavior. I do not sell investment products or manage investments
We’re sliding into a new year let’s talk About updating our money plan [Music] What’s up everyone thank you for Stopping by the achieve financial Coaching channel where we believe in Breaking the chains of debt and of Course talking about all things related To personal finance my name is kenny Simon i’m your personal finance coach And today i just want to talk a little Bit about making plans with our money I’m not a big proponent of new year’s Resolutions or things like that mostly Because we don’t keep them couple of Weeks into the new year you know we’re Just back to our old habits but i want To give us about 10 things to think About that really will help us reflect On where we are with our finances and to Maybe make a plan or update a current Plan if you have one on how we want to Handle our money not just in the new Year but going forward we should always Be looking to strive to the next level So maybe get a little bit better than we Were last year and so today i want to Talk about 10 things that will help you Get your finances together in the new Year please subscribe to the channel Like the video and drop a comment let’s Get started so before we get into the Content of today’s video i want to quote Something that melody hopson said she’s
A former chairwoman from dreamworks Animation she says something that’s Profound if you just stop and think About it just for a second If you understand how money can work for And against you you can make better Decisions Financial literacy is not about wealth But about understanding money regardless Of the amount it is about how you will Treat it and how you will maximize Opportunities okay so i have 10 quick Things i want to go through in order for Us to get our finances together for the New year for us to make a plan for the New year let’s all make sure we’re doing That regardless of your financial Situation whether it’s great or whether It’s not so great first thing is to Acknowledge your current financial Situation you need to face facts so Hiding your head in the sand will have You eating dog food or worse later into Your golden years so let’s not pretend That our situation isn’t what it is Pretending your money situation will Magically get better doesn’t help it Takes being intentional to make change And that starts with self-reflection and Getting real about where you are with Your money today Second thing Get a line on your finances listen we Need to get on the same page with our
Family whether that’s spouse or partner Or something or children whomever you Need to get on the same page with your Family about money have money Conversations with your family discuss The importance of proper money Management and if you don’t know how to Do it it could be a journey you all Could take together this could literally Save your family lots of heartache down The road money isn’t everything of Course but it’s very important if we can Discuss the meaningless mess we talk About every day we certainly can talk About money so we need to get on it Third thing is to know how much you owe Listen we need to itemize our debt Obligations and then the next step is to Make a plan to pay stuff off there are Lots of ways to pay stuff off you have Debt snowballs out there you have the Avalanches you have the financial order Of operations sometimes called foo Listen pick a debt repayment method and Get on it pick what works for you there Are many of them out there you’ve got to Give your debt some attention so make a Plan and then stick to the plan fourth Thing kind of related to knowing how Much you owe is create a spending plan Or a budget you start with your income How much you’re bringing in And then you see how much you owe how Much is going out and then every payment
You make You know to someone you need to itemize That in your spending plan all the way Down to the netflix subscription so make A budget stick to it it’s going to take You a couple of two three months to get Used to that but you can get the hang of It this is critical no matter how much Or how little you make Fifth one is one that i like Um you need to develop a pay yourself Mentality now paying yourself may be Saving or investing and it actually may Be paying off debt depending on your Situation but you’ve got to start Thinking about paying yourself Before you pay everyone else okay that Doesn’t mean buy stuff for yourself Before you pay your rent your mortgage Or your utility bills right we need to Be mature about this but it does mean Prioritizing securing your finances and Your financial future make saving and Investing a pr a priority just like you Do your utility bills especially after You have paid off your consumer debt Then definitely adopt this pay yourself First mentality sixth thing something we All should do you’ve all heard me talk About this get life insurance if Something happens to you what happens to Your loved ones financial situation Right are they struggling after you Leave do they have enough to bury you
And replace your in your income or at Least pay off any bills that you have Remaining or will they have to resort to Go fund me get some life insurance lots Of policies out there figure out how Much you need get some Seventh thing practice patience and Discipline You don’t get good at handling money Without patience and discipline right And you can’t get out of debt overnight So you can’t expect that just because Now you have this mentality that you’re Going to pay things off that is going to Happen quickly because it can’t and it Won’t I’ve heard Dave ramsey for example say hey you can Wander into debt but you can’t wander Out that’s very true so start saying no To things that aren’t truly needs that’s That discipline piece right you know This will be hard because someone’s Birthday is going to come up or you’re Going to want to have a lavish Vacation or something like that but you Need to learn to do without that stuff That truly isn’t a need especially when You’re getting yourself together once You’ve got your money together enjoy Your money right but for but one of the Things you’re gonna have to do is Practice some patience and some Discipline the eighth thing hear me on
This this actually could have been Number one stop neglecting your Retirement it’s time to look into your 401k at work or whatever retirement plan You have at work and see where your Options are you need to learn about the Plan so that means taking some time to Read it same way we take time to scroll Through facebook and tick tock you can Stop and take some time to read about Your retirement plan So if you aren’t contributing you should Start get yourself in a position where You can start contributing if you are Contributing make a plan to step it up All the way until you’re maxing this Thing out because i’m going to tell you If your plan is to live off social Security it is a bad plan the average Payment is 14 15 100 And i don’t know about you but that’s Not going to go very far in most places So take control of your retirement today Ninth thing quickly commit to learning About money Listen you can watch videos like this One you can read books you can talk to People personal finance isn’t as Complicated as people think But for a number of reasons we have an Aversion to it it’s much easier than it Was like when i was trying to learn About personal finances because i had to Read lots of books and dissect
Information you can look at a 7 8 9 10 15 minute youtube video and be much Further ahead than you know i was back In the days when i was reading two or Three books to figure out what a mutual Fund was right but sooner or later you Will have to pay attention to your money And you don’t want that picture to be Grim when you do have to face it right No matter how much or how little you Make You should be learning about money and The last thing which i think is you know Awesome it’s a great concept to Underline and underpin all of this stuff Is give yourself some grace with Whatever plan you set for this new year Or how you want to handle your money you Aren’t going to be good at it when you Start it’s just not how it works but That’s no excuse to give up so most of Us aren’t good at anything new that we Start and money is no different so don’t Be hard on yourself when you mess up a Few times get back on it stay on it and Stick to it i hope those 10 things gave You something to think about listen you May not be able to tackle all 10 but you May be able to pick one or two off that List and then start building a plan Around those don’t overwhelm yourself And as i said Give yourself some grace as you’re Trying to build these plans listen
Ignoring your finances is not a recipe To do anything successfully as it Relates to money in the future it is Time for us to start paying attention to The finances that we have and making Sure that we’re using this money in the Best way possible money is definitely Not everything i’ve made an entire video On many reasons why it’s not but it’s Definitely important enough for us to Focus on get a money plan if you don’t Have one and then if you do have one Update your money plan Remember you can achieve much greater Things than where you are today if You’re willing to put into work Conceive it believe it and achieve it I’ll see you all on the next video