If you’re worried about reaching your money goals or can’t ever seem to stay on top of your budget, I’m going to share with you a very simple trick that will help you achieve your money goals.
Are you ready for it?
‘Cause it’s coming!
Here it is:
My simple trick for achieving your money goal is:
To always check-in with your finances.
If you want to achieve your money goals, always be constantly checking in with your finances.
We humans are really bad at accurately estimating how much money we have.
A study by the New York Fed showed that – on average – Americans owed 25 percent more in student loans than they estimated and another 40 percent more on their credit cards.
Another study by JP Morgan Chase showed that 60 percent of American households miscalculated their spending by 30 percent.
Because we’re constantly underestimating how much money we’re spending, we are already operating at a disadvantage. It’s really hard to put money towards savings or paying off your debt, when all that money has spent at Starbucks or Chipotle.
If you’re looking for an easy way to track your money, I use EveryDollar, which is free but You Need a Budget (or YNAB) is also another great tool. Both are available on your smartphone or your computer.
But, I absolutely recommend tracking your spending AT LEAST – at the VERY LEAST!! – once per week. If you want to do it with me, you can join me on Facebook every Sunday at 10AM PST OR 1PM EST.
But, if you really want to hit the ball out of the park, I recommend tracking your money every freaking day. It’s annoying, I know, but – if you get into the habit of it – it’s really going to help you achieve those lofty money goals.
How do you stay on track of your money goals? Let me know in the comments below!!