Regain Your Financial Health

Friday, February 01, 2008
By Abbey Khan
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Start 2008 right by taking control of your finances! Financial guru Barbara Williams did it and so can you. She built a million dollar company from the ground up with just $500 cash and has helped thousands of businesses, professionals and individuals achieve their financial goals. Here are her five steps to regaining your financial health:

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Assess your financial situation. Make an honest assessment of your current income including the how, when and where of your spending. Determine how much money you’re forking out each month for bills, but don’t forget to take into consideration the spending on everything from prescriptions to lunches, haircuts to dry cleaning. It all adds up!

Decide where you want to be financially. By setting financial goals you will be able to focus on what you need to do in order to get there. Is taking a second job a good idea? Assess if there are corners that you can cut in your spending which will help you become financially fit. Believe it or not, cutting out the daily latte may be one of the keys to reaching your financial goals faster.

Make goal-based decisions. Don’t just make any financial decisions, make decisions based only on whether they bring you closer to achieving your financial goals. Do you really think that signing up for premium cable TV package when you are struggling to pay the mortgage brings you any closer to your goals! Make sure to take into consideration that better financial decisions move you forward on the path to success! Stop rationalizing expenses!

Do something every day to move you closer to your financial goal. Knowledge is power and in order to stay motivated, why not keep finding new ways to stay on track? Attend a money management workshop, read a financial advice book, find helpful internet based newsletters or possibly even ask for professional help. Doing this everyday will keep you focused on your goals and prevent you from slipping into bad habits.

Learn to manage the money you have now. Money management is the most critical factor in building wealth, so it is time to learn how to live on par with your income. If you are really motivated to make a change, learn how to live beneath your means. This is a surefire way to accumulate wealth!

Visit IncomeToday.net for more information about Barbra Williams.


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