manage your money, don't let it manage you

Be Honest With Yourself, Even if it Hurts


So, where to begin? What’s the first step you should take on the path to improving your financial situation?

You need to be honest with yourself  about where you are financially.

That’s your starting point- figure out where you stand financially right now, at this moment. It’ll probably be an eye-opener; most of us have a general idea about how much cash we have and how much we owe, but must of us don’t know exactly what those figures are.

When I first did this, I called it “Honesty Day”, and it wasn’t pretty. I was trying to get a handle on my personal finances after a year of unemployment, and I had way more debt than I realized. It was a sobering moment; even though I’ve been pretty conservative with my money all my life and tried to make the right decisions, unfortunate circumstances left me in a pretty sad state financially. And now I had to start over.

Hopefully, your “Honesty Day” won’t be as harrowing as mine was. But even if it is, you have to start somewhere, and you’ll have a clearer path to travel to financial health if you know for sure what your starting point is. So grab a cup of coffee, a calculator, and your financial paperwork, and get busy figuring!


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