What do you do if your personal finances are in disarray and you want to secure your future?

It is essential that we go back to start, with a solid foundation. Determination plays a crucial role in shaping our outcomes. By outlining clear divisions, such as creating a detailed spending plan and setting achievable financial goals, we can map out a path towards success. Remember, progress is made one step at a time, and there's no shame in seeking assistance when needed

This can be one of the hardest parts of transforming your finances because it brings up many uncomfortable feelings about the past. Facing the numbers may not feel good, but it is the first step in changing your situation. Remember, your money does not define who you are and you can figure this out!

Money is an emotional topic. 1. Take a step back and gain clarity on where your personal finances are at. This may bring up difficult emotions like fear, anxiety. Work with someone you can trust if you need to. 2. Take the opportunity to understand your money narratives. What are some of your underlying beliefs about money and how would you like them to be reframed/integrated? 3. Reflect on what does 'securing a future' mean for you - know that yours can look different from others.

The first place to start when your finances are not in good standing is to see the overall picture of what your finances are like. You can’t change something if you don’t know what’s causing it and what the true picture is. This is always the hard part for most people because they don’t want to face the truth or their current reality. However; it’s the best thing one could ever do in this situation When you can identify what allowed you to be in this financial position in the first place you can work on changing your money habits. You can get intentional about your finances and you can set goals and take action to improve your mental well being and also your financial health. It all starts with the mentality first.

Creating a complete picture of your current situation is imperative. For people that struggle to get started, working with an AFC (accredited financial counselor) or coach can be really helpful. Tracking expenses religiously via a notepad, an app or an excel sheet tends to be the most eye opening part of the exercise. I generally encourage people to track without emotion or judgement of themselves, then at the end of the month evaluate that data objectively. People get in trouble because our brains are wired with an incredible ability to explain and justify our choices (good and bad) to ourselves. By putting some distance between your actions/spending and your review, you can make the process a little easier & usually more objective.

Budgeting is one of the best practices to start being mindful of your expenses. It is always good to do a monthly analysis of your expenditure versus income. And some of the points to consider while creating a budget for the next few months should be: - What are your current monthly income flows? - What are the different areas where you are mostly spending your money? You can always divide that into recurring and 1-time. For example: House rent, medical insurance, travel, and food are mostly recurring. When you start matching your income with expenses, it will give you an exact idea of how much you need to save/ invest every month to reach your financial goal by the end of the year.

Start with picking a debt strategy that you know you can adhere to. It might not be the one that can reduce your debt the most quickly, but any progress is better than no progress. And if you find that you're struggling, reflect on the structures you have in place to ensure success. Leverage your resources to help you stick to your plan.

Don't be afraid to get help if you need it. A financial coach can help you create a budget, get out of debt, transform your spending, and start saving money. A financial planner can help you plan for retirement, build wealth, invest, and achieve your long-term goals. It may seem strange to pay for help when you're struggling, but a financial professional can often help you get on track faster, save you money, and give you a better chance of success.