Even for finance or money guru, keeping track
Personal finance doesn’t have to be exclusive to math geniuses any longer. Alysha Olson is a Ramsey Solutions Master Financial Coach (yeah, like Dave Ramsey, the financial guru we’ve been looking up to for decades!), and she’s letting us in on some of the easiest ways to improve your finance game ASAP. With her tips, that
1. Run your credit report
Between loans, car payments, and the oh-so-convenient credit facility at
2. Set up a recurring auto-draft for savings
Ideally, you would do this for your retirement and your savings accounts. Auto-drafting as little as N5000 or N10,000 a month adds up quickly and
3. Close one account
When I was first starting to get my financial house in order, I realized I was paying for a gym membership I wasn’t using! Every month I meant to cancel but life would get busy and I would inevitably forget. For you, it might be a membership, subscription, or credit account. If you have that one expense that you keep meaning to drop, don’t even read the rest of this article — do it now.
4. Quit one habit that’s costing you money
Try visiting the coffee shop
5. Track what you spend
Get an app on your phone or
6. Visit the bank or ATM
Use cold, hard cash when you can. On average, people spend 12-18% more money when they pay with a debit/credit card.
7. Clean up
I don’t know about you, but there’s nothing that squanders a shopping itch like an empty laundry basket. When all of my clothes are clean and in the closet, I realize how much I already have!
8. Cancel auto-payments
Hear me out on this one. Auto-payments are a procrastinator’s best friend, but when is the last time you really looked at one of those bills? Chances are, if you are auto-paying bills, you aren’t “feeling” how much you are spending each month. Typing N12000 into the online payment website hurts. Paying bills yourself will force you to examine your expenses.
That being said, if forgetting to pay bills on time is impacting your credit then keep the auto-payment on and set a financial date with yourself (use that handy reminder in your phone) to look over your expenses each month.
9. Speak kind words to yourself
I am constantly hearing my clients say “I’ll never have enough money” or “I will never figure this out.” Your mind will believe you when you say things like that! Speak positive words out loud to yourself. Marie Forleo loves to say, “There’s more where that came from!” every time she picks even a penny up off the street!
10. Talk to someone else
Tell a friend, your mother, your therapist — anyone who is trustworthy — about your financial hopes, fears, struggles, and frustrations. Chances are, they too have been through something similar or are in the trenches with you. You may find out your mom has a great grocery shopping tip or your friend is also feeling burdened by your twice-weekly happy hour habit. Remember you are not alone, my friend!