September is National Self-Improvement Month
September is National Self-Improvement Month. No matter how much self-love you practice, I think we can all agree there is always a little room for improvement! Take a look at the things in your world that may be holding you back. Is debt or credit score preventing you from living your best life? If so keep reading on ways you can get your finances in order and improve your overall quality of life.
Pay Off Debt
Paying off your outstanding debts can seem overwhelming. If you have over 15k in debt, reach out to use at Madison Monroe & Associates! We can create a personalized debt settlement plan to get you on the path to financial freedom and reduce the stress of collector calls and unmanageable payments.
Create A Budget
Tracking your money isn’t always easy, but it’s the simplest way to understand where your money is going. Seeing your spending habits can help you make small or large adjustments to help create a budget that aligns with your financial goals. This can mean putting a cap on your disposable income used on nights out so that money can be used in other categories or attributed to savings.
Automate your Finances
Automating your finances is key to limiting undesirable behavior. Keeping your long term goals in mind all the time can be challenging, but systems can keep willpower out of the equation and help you reach your goals faster. Setting up different accounts to divide your paycheck into savings and long term savings is a great place to start.
Save More Money
You can decide to save more money all you want, but at the end of the day, it comes down to action. The easiest way to take action, it to make a plan. Even ontop of automating your finances, set a specific goal of how much money you want to have in your savings account by the end of the year. Making a few adjustments to your day-to-day spending can help you reach this. Pack lunch 3 times a week. Buy some off brands. Cancel some of those subscriptions you never use. These adjustments can add up!
Save For Long Term Goals
Make an effort to start saving early for those long term goals. Buying a new car, your child’s college education, retirement. Even if you can only put aside a little money now, the sooner you start, the more your money will grow from compound interest. You can speak to your bank about opening a specific account that will offer you the best interest on your savings.
If you’re making an effort to improve yourself and your quality of life by getting your finances in order, the first step is to eliminate debt. Remember, Madison Monroe & Associates is here to support and guide you on your path to financial freedom. Don’t hesitate to reach out at help@madisonandmonroe.com or call us at (877) 346-2797.