Over the past two and a half years, this crusade has been able to reach tens of thousands of people. I was recently reflecting on the top things that I see most commonly lacking in folks’ financial plans. So here are the top five things I see lacking.
Part Two A plan to get out of debt
How much money do you send to lenders every single month? Think about that for a minute. Add up the payments. The house payment. The student loan payment. The car payment. The other car payment. The credit card payment. The llama payment. The doctor payment.
How much is it?
What else could you do with that money?
I challenge you to download the FREE “Debt Freedom Date” calculator from the tools page (HERE). Take the time to fill out the “Actual Cost of Debt” calculator too. It will open your eyes as to how much of your hard-earned money is just going to fill up the bank’s pockets every month.
When will you be debt-free?
Over the past two and a half years, this crusade has been able to reach tens of thousands of people. I was recently reflecting on the top things that I see most commonly lacking in folks’ financial plans. So here are the top five things I see lacking..
Part One A monthly written spending plan
Anyone who has been through the Financial Learning Experience saw this one coming! It really is unbelievable how many people walk through life without a financial plan. We will plan like crazy for our proms, weddings, child’s birthday party, and a vacation, but we do not take the time to plan the one thing that funds all of those!
If you are operating your life without a written spending plan, I know one thing about you. You could substantially improve your financial management simply by preparing a written spending plan every month.
There are a ton of FREE budget tools located on the Tools page (HERE). Of course, you could accomplish the same thing with a pencil, paper, and calculator. If you do not have Microsoft Excel, set up a Google Docs account, save the free file to your desktop, and then upload it to Google Docs.
There is no excuse for NOT having a written spending plan every single month. None.