Everyone does it. You swear you’ll start afresh; exercise every day, wash off your make-up at night and, most of all, stop with all the splurge spending that has been creeping into your finances. You’ll balance your budget, and finally get on top of that debt.
You might last a day, a week, a month only to crack in the worst possible way until it gets to the point that you’re afraid to look at your credit card statements again.
So if you’ve been saying to yourself you’ll get it all worked out once you’ve got the time, here’s your chance. Chuck a good ol’ sickie and get your finances back on track.
You’ll save yourself several times over.
Your agenda for the sick day is as follows:
Get on the phone and on the internet to find the best possible deal for all your personal debt. There are often great deals if you transfer your balance across, or look at options with more long-term repayment or a personal loan. Set a stopwatch, and get it done within the hour.
Knowledge is power. Knowledge is financial stability. Getting all your debt in one place, knowing the ins and outs of how you will repay it is going to give your finances the kickstart they need.
Emergency Safety Account
There are often great deals for online savings accounts, so it’s time to take advantage of them. Deposit whatever you can accommodate in your budget. It’s not about the amount, but starting to build an emergency fund.
There’s no motivation on earth like results, so building an account that will help you through the thick and thin will help you get on top of other areas of your finance as well.
Get Super Into One Pile
Work out which of your multiple super accounts offers the best deals, or sits with you best, and order the transfer forms. Not only will it forestall you losing any super, it will also stop your money draining away to fees, and not earning the interest it could be garnering.
Spend an hour finding 20 things to eBay and one hour photographing them and uploading all the information to eBay. Clutter is a drain on our finances and our clarity, so earn some money by decluttering your lifestyle and your home. Resolve to deposit the earnings into your emergency fund to bolster up your savings.
Where Will You Be In Six Months? Where In 12?
Write down a six month financial goal. Write down a 12 month. Stick it on your fridge. It doesn’t have to be huge, or game-changing. Get on top of super. Pay off a percentage of your credit. Get your emergency fund to X amount. It starts now.