Hello friends! Happy New Year!! It’s the beginning of the year and many of us have already created our vision boards and know exactly what we want to accomplish in 2022. Maybe you will buy your dream house this year, or that car you’ve saved up for. Others may be wanted to start a retirement plan, start investing, create a budget, pay off credit card debt, or simply start a new career. Maybe it is to accomplish the goals you didn’t reach last year.
Whatever is on your vision board, your new year’s resolution, or your 2022 goals… I am here to help! I will help you create the plan that will help you accomplish those goals. For example, this year many of you will get an annual raise, or bonus. What are your plans for the increase? Have you considering saving that extra bonus by putting the difference into a savings account monthly? What about investing part of that bonus? Have you created a budget for what you NEED to spend this year? Have you recently lost a source of income? Are you retiring this year?
If you answered “no” to some or all those questions, then we have much work to do together! I encourage you to sit down and write down what you bring home. How much is your social security, payroll, disability, or commissions? How much do you NEED to spend each month? How much is your mortgage, rent, utilities, food, gas, household items, monthly subscriptions, etc.? When is the last time you checked your bank statement to see exactly WHERE your money is going? If you don’t know your monthly budget, then we are already off to a bad start. Well, the good news is, it’s never too late to start!
So here is my weekly challenge for you. Sit down and write down EVERYTHING. Let’s look at your income, your expenses, and your goals. Know that I am your personal banker, even if you don’t personally bank with me, and we are going to grow financially healthier this year! I promise you it hits a little different when you actually look at what you are purchasing. The goal we will set it is to create a financial diet that you can maintain. YES, you can restore that credit score! YES, you can increase what you are contributing to your 401k at work! YES, you can have a savings account that you do not have to touch! You can do it with discipline, education, and motivation. I am here to help you with the hardest part- being honest about your financial health with yourself. I promise it will be OK!
So, this week we will write down our income (whatever source that is), we will write down how much we need (to survive- basic necessities, savings acct, and life INSURANCE), then we will write down what you owe (debt- no matter how much it is-student loans, collections, charge offs, car loans, etc. ), and finally we will write down our dream goals (NEW house, dream car, new wardrobe, vacations- anything that is a luxury goal) and then we will construct a plan. We are in this together! Feel free to email me firstname.lastname@example.org #bankwithbea