New Year’s Resolutions: Better Personal Finance Strategies

New Year’s resolutions: Practicing better personal finance strategies

Financial expert Richelle Smith tells us why good personal finance strategies are important and how to keep our solution.



Practice better financial strategies. Meredith: Joining me now is Rochelle Smith talking about personal finances and personal goals, and that’s always a solution for many people to get on the right track. What are your suggestions? >> People make up their minds every year. At the top of the list is better management of financial resources. What I want people to do is take a look at the things they can do in 2023 and beyond. I think this makes it easier, the first thing you want to do is work on your thinking machine. If you’re talking about money, you’ll want to have positive language about money. You want to develop a good relationship with your money and a good attitude about your money. Going to say I’m broke, I don’t have that, those kinds of languages ​​you want to change. You want to say I build wealth or work and allocate money to different spaces. Meredith: I just felt like families got stuck in inflation, paying off credit card debt, there are some things that can be kept in the spotlight. What would you suggest people do. >> Write things down. So you can see clearly on paper what’s coming and going. Basket B number one and then set financial goals. A five-year and 10-year plan especially for entrepreneurs but achieving these goals will be great because it helps build in the moment, so if you’re trying to pay off small credit card debt or save up, in a shorter time, take small chunks. Meredith: You’re eager to exceed debt repayment goals or set a solid budget, which can encourage people to stay on this path. >> It’s a great way to build into the moment, if you’re checking in on the things that make you feel better because you want to do more. And the first thing is we need a good tracking system, so you talk about inflation, you talk about expenses and income, how do you track these things. There is an EXCEL spreadsheet, and we always have those. But technology has made it easier. There are some great apps you can download to help you keep track of your income and expenses. It’s kind of like the ENVELOPE system we use to put money into different conditions. You can do this online. Meredith: Do you think they’ve really laid out — what people need to focus on and how to achieve and what percentages you should spend in this area. >> You want to choose what works for you. It’s so comprehensive, some people just want to focus properly on a budget. And then, budgeting has its pros and cons as you can see its very well to choose what works best for you and your family. MEREDITH: A wise ability to respond financially is especially important for parents to show their children. >> You have a 16 year old who believes that money grows on trees. Like teaching kids about smart money habits will help them make better decisions as adults and for us adults now we’ve come through some tough times we’ve been through coverage we’ve been high now have the experience of knowing how these things affect our families so if Were better managers of our money, we can make it through hurdles and challenges like that easier than we could have done in the past. Meredith: People want to get in touch with you or follow up with questions, how can they get in touch with you? >> You can join my team via your desired email – my email list. Meredith: Thank you very much and Happy New Year.

New Year’s resolutions: Practicing better personal finance strategies

Financial expert Richelle Smith tells us why good personal finance strategies are important and how to keep our solution.

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