1. Know What you Want
- Create a vision and set authentic goals.
- Well-defined, clearly articulated goals are easier to achieve.
- Focusing on your top three priority goals will simplify your life.
2. Know your Financial Reality
- You will be more resourceful and creative at finding solutions when you know where you stand.
- Create a basic plan with goals, figure out where you are now; and take steps to get what you want.
- Knowledge is power.
3. Create a Plan and Set up Systems
- Set up a system to stay on track with your day to day expenses
- Know how much you need to save, invest, and do now to meet the retirement plan that you’ve mapped out for your future.
- Figure out how much is enough for you. Be realistic about what’s possible and absolutely necessary and what are extras.
4. Delegate don’t Abdicate Responsibility
- Don’t stop learning; keep up your financial education.
- Talk about money with your spouse, friends and family.
- Be open to changing your money habits and set intentions for having a different relationship with money.
5. Just Do It!
- There are no quick solutions and it might not be your favourite way to spend your time, but taking control of your finances will allow you to live better.
- Once you get into it, the rewards—both financial and emotional can be so immediate and tangible that you’ll find it’s worth the effort.
- Create an Action Plan with achievable time frames for each activity—don’t take on too much at once otherwise nothing gets done.
- Acknowledge successes and accomplishments so far.
(From UNSTUCK – How to Get out of Your Money Rut and Start Living the Life you Want by Money Coaches Canada co-founders Karin Mizgala and Sheila Walkington)