How to Win With Money

Are you in control of your money, or is your money in control of you? Financial success is really just another term for managing your money. I’m sure you’re thinking, In this market, isn’t everyone living paycheck to paycheck? There’s no way I can do that! Yes you can. I believe that the ratio for good money management is 80% healthy money habits, 20% financial know-how.

You’ve got to start with your healthy money habits. I’m talking about self-discipline. You’ve got to live within your means. I’m not saying you can never buy another fancy coffee; I’m saying if you’re broke, you shouldn’t buy two or three lattes a day. Many times, society pushes us to buy the next big thing–a new car, a new phone, another streaming service–and this stuff adds up, fast. Don’t follow that crowd. Put first things first. Start by making sure you’ve got a nest egg of emergency savings. Then, plan out your savings for big purchases before you buy. Don’t worry about being perceived as stingy. You’re building long-term wealth!

The other 20% of good money management is learning your way around the financial world. The biggest money moguls start small. For example, make sure you’ve got a bank account appropriate for your needs and a credit card with a low interest rate. You should prioritize paying off debt quickly. You should also make sure you understand your retirement savings program with your employer. Research, research, research. The more you know technical terms and policies, the less likely you are to get duped in finance.

Honestly, if you’re starting from square one, this will seem overwhelming. My last tip is to start anywhere. When you accomplish little actions that save you money, you build traction. Small successes will give you the wherewithal to tackle bigger issues. You’ve got to learn to put bait on the line before you can catch a fish. …And you’re gonna be a great fisherman.

Whether you need help with healthy money habits or your financial know-how, I’ve got the skills to support you. Sign up for a time to meet with me. We can work out your finances step-by-step through my personalized program. You can take back control of your money, and I’m here to help you do it!

Kate Platt is a freelance writer. Check her out at www.plattliterature.com