1) Estimate your monthly income and expenses. Take 10 minutes and estimate your fixed and variable expenses that occur on a monthly, quarterly, or annual basis AND any one-time expenditures that may be coming up this year. If you need help getting started, try SmartAsset’s Budget Calculator. Once you know your numbers, use those to create your projected budget for the year. If you don’t know how, I have a Budget Worksheet that can help!

2) Track your expenses throughout the year. I like to use Mint.com to track my expenses and make sure I stick to my budget. Their easy-to-use app provides the ability to set goals and they provide helpful charts and graphs to help you visualize your progress! If you don’t like Mint.com, there are other apps you can use. Check out this post on Budgeting Apps.

3) Lower your monthly bills. Most estimates show consumers racked up on average $1,000+ of debt over the holiday season. January is the perfect time to ease your financial burdens by reviewing your regular bills (electric, internet, cell phone, auto insurance, etc.) and getting a better deal. A blog post on this is coming soon!

5) Create a comprehensive financial plan. Are you going through the motions each month, paying the bills and crossing your fingers that some day you will have the money you need for the life you want? Get proactive! Make sure you are saving, investing, and budgeting effectively so that you can be where you want to be a year from now or five years from now. If you are ready to take the next step, consider working with a Money Coach! Look for one whose coaching style and budgeting process aligns with your style. IF you don’t know what your style is, check out this money personality quiz from Nerdwallet and then consider working with me. I mostly work with single income households, but am open to working with ANYONE that needs help and is ready for a change. You can book a Financial Assessment with me (for a fraction of the price that others charge).