Steps For Financial Success
Make a budget..and actually stick to it.
Budget templates can be found on excel, pages, and pretty much anywhere (including at the bottom of this page).
Spend less than you earn.
Now this is a hard one for me. But sometimes cancelling those subscriptions or skipping those takeouts is a must.
Pay yourself first.
Before anything else, put your paycheck into your savings, retirement, investment account, etc.
Insure big risks.
Measure the risks in your life and get those babies insured! It's always better to be safe than sorry.
Know your numbers.
Understanding your finances is key to being successful. At the very least you should know what you make, your debts, and your net worth.
If you're anything like me, you might not know where to start with investing, but apps such as ACORNS and ROBINHOOD are a good place to start.
Goals are important.
Nothing is going to happen immediately, financial stability takes time and effort. So set goals of where you want to be each month, each year, and each decade, and keep working to accomplish them.
Yes, the majority of these are taken from Forbes because I don't know about you but I'm trying to make that list one day.
Let me put you on real quick
If you don't already know Patricia, then I really don't know what you are doing with your life. So, STOP reading this and check out her YouTube channels immediately. Specifically, her "The Break Platform" is absolutely incredible and makes finances something that doesn't have to be overwhelming and impossible to understand. She makes financial stability fun, sexy, and obtainable.
Some more resources:
I really love the templates on this website just because they give you an array of options depending on what you are budgeting for. For example, they have a college budget template that takes into account monthly expenditures such as textbooks and laundry.
They walk you through each category in your budget and provide you with comprehensive worksheets to not only understand your budget but also easily implement it into your lifestyle.