Makeunder My Finances: Step 1

Hello again! Welcome to a bright and shiny New Year! I don’t know about you, but I think 2011 is going to be a big year. I’ve written down some goals and have renewed energy to tackle them. What about you? Do you have any big plans for 2011?

Two of the most popular resolutions revolve around improving your finances and improving your health. Hopefully I can help you start achieving these this January. First up is improving your finances. And to give credit where it’s due, I didn’t come up with the makeunder steps. That’s all Jess of Makeunder My Life. If you’re looking to simplify your life and home, check out the makeunder steps in their original glory. I simply gave them the Fiscally Chic treatment.

Step 1: Create a vision


A Frank Lloyd Wright home in Oak Park, IL (I can dream, right?)
(source)

Before overhauling your finances, think about your overall goal. Your goal could be saving money to buy a home, for retirement, to go on vacation, to have a cushion to start a business, or for your child’s college fund. You might also want to payoff debt: student loans, mortgage, or credit card. Maybe it’s for a new car. Your vision could be for your personal financial situation or for a business.

Creating a vision will set the focus for the next three steps. So get as specific as you’d like. John and I have several financial goals, including saving money for a house. This will be the example I’ll use throughout the “makeunder” series. Our vision includes the neighborhood, cost, number of bedrooms and bathrooms, and when we’d like to start the home buying process. Some of these items may change over time, but the overall vision of a home is the foundation. Feel free to put together an inspiration board that you can see everyday. Or write down your vision and post it on the refrigerator door. Maybe you’ll write your goal and reminders on the calendar.

(source)

I hope you enjoy this series. As Jess puts it, a financial makeunder “takes the stress out of it in a way and doesn’t make everything good or bad, but intentional or not intentional.” The goal of this series is to help you examine why you spend money and your priorities instead of just “do this” and “don’t do that.” I want to help you put together a plan that works for your unique situation instead of just following a formula.

Next week, step 2: exfoliate stuff

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Comments

  1. Lauren says

    This is great!! Thank you for the tips. I think this series will be extremely helpful. Although I try to save money and spend wisely, I’m really not very financially minded — I get sort of lost when it comes to finances. This year I want to change that.

  2. Cathy says

    Lauren and Maddy – You’re welcome! If one person picks up one useful tidbit, then the series will be worth it. Let me know if you have any further questions about finances.

    Brigette – Thanks! I saw your “Warm Soft Money” series as well. Well done.

  3. Jess LC says

    This is awesome lady (I’ve tagged this to comment on for a few days now!) Once the whole series is complete, I’d love to link to it on MML. :)

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