This week's Keys to Riches Number Seven: Break the Budget is going to finish out our assessment and give us the most realistic picture of what our finances look like. Heather shares her unique way of breaking budgets and bad money habits to create a better more functional way to manage money.
I know that trying to create and stick to a budget is a losing proposition because it can mean sacrifice and not truly addressing my financial challenges; therefore, to be truly financially independent, I must create and stick to a realistic healthy savings and spending plan.
I have and live by a healthy savings and spending plan.
I commit to designing and living by a healthy savings and spending plan that suits me and my family.
Key Action Item:
Categorize your assessment envelope. Analyze your expenditures in each area. Are they what you thought they would be? Pull out your Dreams With Deadlines™ strategy and further evaluate your needs versus wants. Balance them with your goals. Work on your essential wants and figure out how we can reallocate those non-essential wants after we create our savings plan and eliminate our debt so we can begin to take control of our financial future.