10 things you can do today to get your financial life in order

Estate Planning, Financial Planning, Investing, Retirement Planning, Risk Management

I’ve posted a series of 10 things you can do today to help get your financial life in order… or at least get you started.

It’s designed to follow step by step. This means reading as well as “doing” the work discussed in the posts.

Here are the posts and their order to follow for maximizing results:

  1. Create a statement of net worth
    If you don’t measure it you cannot improve it. A statement of net worth will let you see your strengths and weaknesses and show you threats as well as opportunities (the old S.W.O.T. analysis thing). In any case, it’s fundamental to creating a sound financial plan.
  2. Create a statement of cash flow
    If you’ve ever wondered where all your hard earned money goes then this exercise is for you. Again, if you don’t measure it you cannot change it.
  3. Stop the spending madness (A.K.A. plug those spending holes)
    Let’s face it, we all have frivolous expenditures. But sometimes we need to stop the madness and reboot.
  4. Take control of your debt… or suffer its wrath
    Do you control your debt or does your debt control you. If you don’t make a deliberate effort to manage your debt it can easily put you into a terrible financial condition. If it’s out of control then reel it in.
  5. A special savings account (A.K.A. an emergency fund and a sinking fund)
    Life’s hiccups can trip you up if you’re not prepared. Follow this technique to reduce those financial disruptions.
  6. Guard your credit… at least keep an eye on the thing
    Credit fraud is obviously a growing concern in our society and there is no one who will, or should be, more diligent at protecting it than you. Follow this technique and create a few new habits to protect yourself.
  7. Evaluate your risk
    Life is fun… but let’s face it, things can turn on a dime… and quick. Make it a point to keep risks in check.
  8. Setting up and/or evaluating retirement accounts
    If you are depending on someone or something else to take care of you in those golden years then “wake up” from your slumber and get a plan together. You’ll be glad you took the time to do this when retirement gets here.
  9. Credit Card Mania
    Enough said here… just read the post.
  10. Estate Planning is for everyone
    You do not have to be rich to need Estate Planning. Don’t be caught dead without these documents in place.

Hope this helps out. Feel free to send me your questions [click here]

Comments on this entry are closed.

  • Andre Simoneau

    Great 10 steps that we all need, nice to have them in a concise to do list with details.