The #1 Financial Freedom Question
Every week I get loads of great questions from our students and readers about creating a life of financial freedom for their families.
While many of them are great questions, one stands out above the rest.
The #1 financial freedom question I hear all the time is…
“I want to do better with my money, but I just don’t know where to start?”
If you have this same question, then you are on the right track because you recognize the need to improve your personal finances.
To help you get started, do these 3 things first before you do anything else with your money:
1. Build a budget that tracks every dollar coming into your pocket and every dollar that leaves your pocket. Be as detailed as possible and project forward at least 2 to 3 months. The key is to spend less than you make each and every month.
2. Pay off debt starting with the highest interest rate debt first. Debt is by far the biggest stressor most of us have to deal with. Paying debt off quickly will bring financial peace to your life.
3. Start building an emergency fund. Having money available to you for those unexpected speed bumps in life will give you the freedom to live with less stress.