Financial Freedom Fridays - Like Getting a Raise

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Like Getting A Raise

Making a budget and sticking to it can make you feel like you got a raise!  Here is what budget user Kacie E. said about her budget experience:

“A budget is everything. Giving yourself a limit each month really makes your money work for you instead of against you. Sitting down and realizing how frivolous your spending may be makes you realize that you actually do have enough money to make it to the end of the month. When I started, my budget made me feel like I got a raise! All because I wasn’t impulse shopping and watching my money slip out of my hands every month.”

Try it for yourself. It often takes about 90 days of trial and error to get the hang of using your budget. At this point, you will feel like you got a raise because you are now telling your money where to go versus spending it without knowing where it all went. 

I can help you set up a budget.

You can master your money... and I can help!  

Contact Michelle Serna by filling out the Contact Me form

Financial Wellness Wednesday - Write it Down

 Photo credit: corporatewellnessmagazine.com

Write It Down

Write out your budget, your debt and your goals. Research shows when you write down things, you tend to remember the things you write down vs. what you don't write down. It could be you write it out on your electronic device or it could be you write it out on paper. But write it down. You need to know the numbers! 

I have discussed budgets in several previous blog posts. And it is really important to get it down on "paper" and keep it in front of you for easy reference. It's also really important to write down every debt you owe and the balance of each one. It might seem overwhelming at first, but once you have it all written out, you can develop a plan to get rid of it, one debt at a time. 

List out the obvious debt, like credit cards, car loans, mortgages and equity loans. But don't forget about cell phone installment agreements, student loans and even IRS debt. And list them out in order of the smallest balance to the largest and total them up. Then, later, you can "brag" about how much debt you paid off. Check out the Debt Snowball blog I posted November 2020 on how to get that debt paid down fast. But if you don't write it out and know what you owe, how will you get it paid off? 

Lastly, write down your goals. Emergency fund ($1,000), 3-6 months living expense (for longer-term emergencies), Christmas, vacations, renovations, etc.

Writing it all down will get it all exposed so you know exactly how to address it. Not writing it down will keep you wandering and wondering how you will ever get it done.

You can master your money... and I can help!  

Contact Michelle Serna by filling out the Contact Me form to the right of this post.

 

Money & Marriage Mondays - Newlyweds

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Newlyweds

Money problems and money stress are top reasons for divorce. But these are preventable.

Here are some great tips for Newlyweds from the Dave Ramsey website. 

• Be transparent
• Combine your bank accounts
• Make a budget together
• Plan for the future
• Always put your relationship first

Doing the first 4 tips gets you that much closer to the last tip because these tips bring you together to discuss finances so you have stronger communications and a stronger relationship, thus helping to reduce or prevent financial stress altogether. 

And don't worry if one of you is free and clear of debt when you get married, and the other isn't. Just work together to get each of you debt free. 

If you need need help with a budget and a plan, I can help.

You can master your money... and I can help!  

Contact Michelle Serna by filling out the Contact Me form. 

Money Freedom Fridays - No Debt is Good Debt

 

Photo Credit: daveramsey.com

No Debt is Good Debt

I had to share this post from Dave Ramsey:

THERE'S NO SUCH THING AS GOOD DEBT

"The shortest distance between you and wealth is having NO DEBT. You should be able to KEEP the money you work so hard for, and build a future that you're proud of. Get out of debt as quickly as you can, so you can live a life of FREEDOM.

I won't get mad at you for having a mortgage, but it's still debt and you need to pay it off as quickly as possible.

If you become debt-free and decide that you hate it, you can always go back and get some more... but I have a feeling you won't really want to."

"Live a life of FREEDOM". Get free from debt. I can help with that.

You can master your money... and I can help!  

Contact Michelle Serna by filling out the Contact Me form.

Financial Wellness Wednesday - Spend Less

 

Photo credit: daveramsey.com

Spend Less

We are in a society where spending is normal. We see it - we don't have it - we want it - we buy it. Commercials and ads constantly bombarding us showing us all the things we never knew we "needed." Well, it's a lie. We don't really need most those things. We just want them.

Do you have the basics? Do you have a place to live and clothes to wear? Do you have transportation needs met? Do you have a grocery store nearby to buy food? This all you really "need." Everything else is extra.

Does this mean can't have the "extras"? No, of course not. But if you have debt, you will want to put buying "extras" on pause until you get your debt paid off. And once your debt is paid off, only purchase the "extras" you can afford. Don't go back into the debt loop again.

I can help you develop a budget, identify your needs vs. wants and help make a plan to pay off debts so you can buy the "extras."

You can master your money... and I can help!  

Contact Michelle Serna by filling out the Contact Me form

Money & Marriage Mondays - For Richer, For Poorer

 

Photo Credit: redbook.com

For Richer, For Poorer

When times get tough, don't pull away from each other. Lean in. When we get married, we are in the honeymoon phase. We see everything through rose-colored glasses. Everything seems to be rainbows and butterflies.

We don't go into our marriage thinking about future debt and the possibility of being over our heads or having financial struggles. But these things can happen. Financial stress can make us want to walk away or to try to ignore the things causing the stress.

But instead, draw in closer together. Talk about what is causing the financial stress. Discuss priorities and discuss options that will help relieve the stress. Make a plan. What is most important? What is the worst case scenario? Rather than worrying about it, hit it head on. It's only money. You can make more. 

Your relationship is the priority. Next are your basic needs. Focus on these. 

I can help you identify your needs and a plan to move your towards removing the financial stresses.

You can master your money... and I can help!  

Contact Michelle Serna by filling out the Contact Me form. 

Money Freedom Fridays - Podcast Interview

 

Podcast Interview

Check out our interview with Made2nspire. Michelle Serna, Money Coach for Master Your Money, talks with Kimberle and Misty about why it's important to budget and tips for paying off debt on this weeks podcast.

https://podcasts.apple.com/us/podcast/made2nspire/id1533024529

https://open.spotify.com/show/5Mjx3ahpNvwnluR0s9oA9A

https://radiopublic.com/made2nspire-85eaLn

https://www.facebook.com/made2nspire/?ref=py_c

You can master your money... and I can help!  

Contact Michelle Serna by filling out the Contact Me form to the right of this post.