If you're
anything like I am, each year you resolve to get a handle on your money, but
then the year passes and you've broken your resolution, again. Not this time.
It's still early in 2017, and I've asked Canada's top money bloggers for their
no-nonsense tips. The common thread in their advice is: take control. Here's
how to do just that.
Embrace your budget, it's not the enemy
The very
thought of creating an actual budget is enough to discourage some of us, but
our hesitation might be all in how we look at this step. Krystal Yee of Give Me
Back My Five Bucks reminds us that our budget is not the enemy. "A lot of
people think that having a budget means restricting, but it's actually about
empowerment. Once you start learning where your money really goes each month,
you'll be able to cut expenses on things that don't matter, and actually start
spending (and saving!) your money in a meaningful way."
Once you
decide to embrace this empowering step, you can check out the budget Yee
recently made right here to help you get started on yours.
Set realistic, measurable goals, and do it
now
"Some of
us are suffering from the post-holiday spending hangover, and now is the time
to get our finances in order. Start thinking about your expenses for the year
and plan accordingly. Do you have vacation plans? How about any major purchase
coming up?" says Barry Choi ofMoney We Have.
Then, take
baby steps toward those goals. "If you have a goal of paying off $6000 in
debt this year, break it down into smaller pieces. Instead of the big lump sum,
focus on saving $500 a month," says Frugal Trader of Million Dollar
Journey. Here's how he became a millionaire working a regular 9-5 -- before the
age of 35!
While you're
at, incorporate your long-term goals in your action plan."Saving money for
the future is critical and, thanks to the rise of robo advisors, it has never
been easier. Even if you're only able to put a few dollars away a month, that's
better than nothing," says Jordann Brown of My Alternate Life. Read about
how she improved her net worth by almost $100,000 over the last five years
here.
Read more on... Top
Money Bloggers' Tips For Taking Control Of Your Finances
Author: Jessica Brooks
