- in Oola
We can calm the stress and put you on the road to better financial wellbeing, recent crisis or not.
Do your big life goals take more money than you’ve got? Well, for the next few weeks, I’d like to challenge you to work on improving your finances week by week so you can crush those life goals you’re dreaming about. While the recent crisis means that times are tough for lots of people, together we can calm the stress and put you on the road to better financial wellbeing.
The key is focus –
And that’s what we’ll do: focus on paying off one debt, building a small emergency fund, and organizing your household finances to create a stress-free financial future that plans ahead of big expenses and brings you closer to your biggest life goals.
I’m up for that kind of focus . . . how about you?
In fact, focus is what the Oola lifestyle taught me, and it’s what I help others do as an Oola Life Coach. START TODAY: INVENTORY YOUR CURRENT FINANCES
“What gets measured gets improved?”
For many people, just writing down their total financial picture is overwhelming. When they list their monthly bills, it often seems like there’s never enough money coming to pay for it all. But have you ever heard this advice: “What gets measured gets improved?” Make it a game and create small wins every week. But first, let’s take inventory. Writing in a journal or in a spreadsheet is best so it’s all in one place.
Monthly housing cost: List your rent or mortgage payment
Monthly household bills: List 12 months’ worth of average household expenses (water, electricity, heating, trash, etc)
Weekly spending: Estimate the amount you spend every week on coffees, gasoline, groceries, eating out, or shopping
Monthly debt payments: List by creditor – just the monthly amount you typically pay (for now)
Monthly investments & Savings: List by name or type, and the monthly amount you typically invest or save
Emergency Fund Balance: If you save for unexpected needs, list the amount you have saved, if any
What can you improve, change, pay off, or eliminate in order to de-stress your financial life?
Whether or not you handle these expenses, bills and investments every month, take a look at your overall financial picture. What can you improve, change, pay off, or eliminate in order to de-stress your financial life?
Would selling unused sports equipment eliminate a monthly payment? Would bringing your lunch three days a week help you save for investments?
What is ONE change you could make immediately to lower your financial stress?
Drop a comment below and share ONE change you could make immediately to lower your financial stress – now that you’ve written down your numbers.
In my next post, we’ll take a look at ways to “de-clutter” your financial life – just like cleaning your closet or managing your email inbox. Stay tuned! It will be a lifechanging post that transforms the way you focus on your finances.