1. A FINANCIAL PLAN

2. DETERMINE YOUR CURRENT SITUATION -Analyze how you use money now -Come to terms with how you spent or overspent money -Think about how to monitor your spending

3. SET AND PRIORITIZE YOUR GOALS - Decide on short term goals - Decide on long-term goals - Goals should be realistic and attainable - Decide which goals are the most important to you

4. DEVELOP A LONG-TERM PLAN -Think about how you can work toward your goals. -Make sure your plan is something you can do without a lot of trouble. -If it involves working a lot more or spending a lot less, it may not be something you can do

5. ORGANIZE YOUR RECORDS -Organize your bills -Organize your bank records -You may choose to use a program like Excel or Numbers -You may also choose to do it in a spiral bound notebook -Try to keep your records simple -The more difficult it is, the less likely you will be to follow it

6. SET UP A BUDGET -Reflect the 3 R’s: Reality, Responsibility, and restraint -Reality -Keep it realistic -Is it doable? -Responsibility -Hold yourself accountable -You are the one who will succeed or fail

7. SET UP A BUDGET -Restraint -Deny the urge to partake in wasteful spending -Assessing needs versus wants -Reevaluate the budget regularly -What is working? -What is not working? -Change the plan, if necessary

8. KEEP IT SIMPLE -Complex plans are less likely to be followed -Most people you achieve their financial goals keep their plan relatively simple -It is much easier to track progress and follow through