Being financially free is not easy! However, if you want to find success in finances you need to have a plan and a budget to keep from overspending and going into more debt. This is the foundation we build on and believe is critical to success. Many people fail, even with a plan, because their plan is not complete. This is why we provide the 9 step/belt process to help you master your finances. The attributes you will develop are accountability and expertise in your personal finances to make your dollars go as far as possible. Here are the details of the nine belts and what it takes to be a Master of your finances.
You can start this path at no matter what level you are at. Here are 9 important traits to help on the path to be a master in budgeting:
1. “A white belt student is a beginner searching for knowledge of the Art in finances.”
Taking Control of your finances is a huge strength and essential to being Financially free. It’s important in this step to assign every dollar a purpose to maximize your money.
3. “The orange belt is starting to feel the body and mind shape up.”
Being an orange belt means getting financially fit and living within your means.
Green is strengthening your savings with a $1,000 Emergency fund. It’s a challenge, but having it is a huge relief.
Save one month’s income and live one month ahead. YES THIS IS POSSIBLE!
This is officially declaring war on DEBT! This is adding all your debt accounts in the Debt center and start paying it off. You will be shocked how much money it will save to pay off your debts early.
In this stage you start ensuring your future by Investing in yourself and your family.
Now there is no quick fix to getting out of debt; however, being a master of your finances does require commitment, discipline, and good spending decisions. Here are a couple of tools to help you be a black belt in finances:
-Mvelopes budgeting app is free to sign up for and helps you plan future expenses.
-The free debt analysis with Money4life coaching provides a report of how to eliminate debt in a short amount of time and what it takes to be master your finances.
What do you do to set goals and achieve them with your budget?