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The Best Time To Start Budgeting

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There is no better time than the present.

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The sooner you start budgeting on a regular basis the more money you will save:

  • For your retirement
  • For a house
  • For that vacation
  • For a new car
  • For your kids’ college funds

When you start to budget, you grow an awareness of how much money you are spending on a weekly or monthly basis.

Budgeting gives you incentive to purposefully save your money.

  • You may have thought you didn’t have any possible way of saving for that thing.
  • After budgeting, you recognize (for example) how much money you were spending going out to eat nearly every day.
  • What if you limited your spending in that area of your budget?
  • Now you can save up for that thing a lot sooner than you thought you could.

Amazing! Right?

I hope you will start budgeting today!

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Why Is Finance So Important?

Part 1 of 3

This is such a great question! Read on to find out why finance is so important.

Let’s Back Up A Little

Let’s ask ourselves, what is finance?

(According to the Corporate Finance Institute) Finance is defined as the management of money and includes activities such as investing, borrowing, lending, budgeting, saving, and forecasting.

Why Is It Important To Learn About Finance?

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How many times within a day or week do you spend money?

Money is necessity to be able to support ourselves: pay for rent, groceries, cell phone, invest for retirement, and so on.

When we come to recognize that exchange of money for services and/or goods are a natural part of life, how important is it to you to be wise about every decision involving money?

I hope that it is very important. You work hard for the money that you earn. Right? It is within your best interest to learn how to be a good steward of it.

That is why learning about finance is so important. It ties right into the saying, “Knowledge is power.”

Knowing about every aspect of finance enables you to make wise decisions about your money. (Look at the definition again.)

Do you want to know how to do each of those financial activities? Your answer should be, “Yes!”

You should desire to know how because knowing will lead to financial security.

Say goodbye to money stress!

Who doesn’t want to do that?

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Next Steps After Becoming Debt Free

Even if you are debt free, you still need a financial coach.

Congratulations! You have conquered your debt! You are on your way to financial independence. You are free of your debt. This is awesome! Listen up!

Being debt free means a fresh start for you to reach financial independence.

Bethany Trimble
Photo by: Niklas Ohlrogge (Unsplash @pirye)

With your debt, you were in this dark room looking out at this beautiful view. (Go with it…Hang with me here.)

Now you are still this room, it’s not a bad thing. Right? You know you have finally conquered all of your debt! THAT IS HUGE! SOMETHING TO BE CELEBRATED! FOR SURE!

Look at what you were missing out on. Look at this view, it’s incredible. Welcome back to having more financial flexibility!

Ask yourself these questions:

  1. Are there smarter money habits that I still need to learn?
  2. What are my financial goals after conquering my debt?
  3. What should my spending plan look like now that I am debt free?

Want to find out how to create and prioritize goals that will lead to financial independence?