Controling Your Finances with a Plan

For most of us the first step to a bright future is to get control of our finances, and to use a plan to achieve our key objectives. As we get busier, and more transactions are electronic, by mail, by phone, or by ATM, we can lose track of where we are on the financial road map.

This list of suggested activities can help you get back in the seat on the way to your financial destination.

Like a diet requires you keep track of what you eat, in order to cut the fat, you must also track your spending for a month to see where it all goes. This will highlight areas to be targeted for savings.

Create a plan to save 10% off the top of your earnings. “Pay yourself first,” and “part of all I earn is mine to keep,” are key phrases to remind you that you’re entitled to save now for your future.

Put together all your insurance statements and policies and offer them to one or two reputable agents in order to either update coverage, or reduce your costs. Many of us carry too much insurance, in some areas, while we’re dangerously underinsured in others.

Driving a car that is getting older and less valuable, without adjusting your coverage could be an expensive mistake.