Financial Fixer-Upper Day 1: Get Your Goals Down
Thanks for joining the Tax-Time Financial Fixer-Upper Challenge! We hope you learn a lot from these 10 days of tips for saving and spending and smarter!
Your activity for today is: Assess Your Situation and Get Your Goals Down
Before starting to work on your spending and saving habits, it's important to assess where you are, and where you want to go. Today, think about your current financial state. What do you spend most of your money on right now? Is more going out than coming in? How much do you typically save each month? Do you have separate checking and savings accounts?
Then, think about your goals. What do you want to achieve by spending less and saving more? Is there something big -- another kid, a wedding, college, retirement, etc.-- you are saving for? Do you want to stop living paycheck to paycheck? Do you want to get out of debt? Do you just want to go out to eat at a really nice restaurant?
Tell us about your assessment in the replies below! You might find there are other moms in a similar situation. Tell us your goals, too!
To sign up for the Tax Time Financial Fixer-Upper Challenge, click here.