Time: < 30 Minutes
STEP 1: Make a budget to determine what money is going out each month, what is coming in, and how much you are saving each month.
STEP 2: Ask yourself some important questions: How much debt do you have? How much are you paying towards debt each month? Are you saving for retirement? Are you putting anything into a 401(k) or SEP plan? Are you living outside your means? Do you have any savings in case of emergencies? Are you spending too much money in a certain area each month?
STEP 3: Once you ask yourself these questions, you can determine next steps. If you aren’t saving anything in a savings account or a 401k, try to start doing so immediately. Even if it is only $20 a month, it’s a start. If you have high debt, talk to a financial advisor or someone who can help you set up a payment plan.
STEP 4: Get some tight reins on your debt and start saving some money each month. This is a great way to take care of yourself, knowing that things can change at any time and you want to be prepared.
