We’re starting the New Year with a tough (but basic) truth:
There’s no magic to financial stability.
We can’t wave a wand to better finances, but achieving that goal boils down to a few key guidelines, ones we share with all our clients. (Now, there are systemic blocks to building wealth for millions of Americans, but that’s a different story for a different newsletter).
This past December, Clarifi counselor Mariah Williams shared some of those guidelines with NBC Philadelphia.
- Set realistic goals. “If you are not honest with yourself, you can’t reach your goals,” Mariah said.
- Track your spending. Know where your money is going to see where you can save. Budgeting apps can help with this.
- Make financially healthy changes. Yes, you can still order takeout, but cut down on it weekly and opt for home cookin’.
- Start a savings habit, no matter how small. And automate it! Ask your employer split paychecks between your checking and savings accounts.
- Stick with it, and you will see results. Whether you’re trying to pay down debt or save money, it’s a slow process. Just stay the course.
Check out the full interview here: