Do you set New Years Resolutions? To get 2017 cranking we are bringing on our first repeat co-host. We have brought back The Money Nerd, Whitney Hansen to make the biggest impact on your financial resolutions this New Year!
On This Episode You Will Hear:
[spp-timestamp time="01:32"] A quick recap on who Whitney Hansen is
[spp-timestamp time="02:19"] What people are freaking out about this new year. We all want and make the same goals in the New Year, Lose weight and get our financials in order.
[spp-timestamp time="02:50"] New Year resolutions. 75% of people who set New Year's resolutions give up within the first 30 days. People don't spend enough time on who they are and what make's them tick, and function every single day. It is something that is key to health and finance.
[spp-timestamp time="04:39"] Profit First. Taking Action. In the fall of 2016 Whitney started teaching personal finance at a College level. Whitney creates little money dates with herself to check in on how her finances are doing. That weekly check-in allows you to align yourself with your finances.
[spp-timestamp time="07:36"] Whitney would go through the past 30 days of your Credit Cards and your Bank accounts and start to group together common spending habits and remove spending that doesn't align with your goals and your expenses. Reallocating the funds to the right domains in your life.
[spp-timestamp time="11:09"] Budgeting and saving for a trip to Italy. Booking trips with Google Flights. Setting up a saving's account for just travel.
[spp-timestamp time="12:53"] If there are important things in your life you want to pay for, set up an account and have your money automatically transferred to your account. Even if it is only 2% or 3%. Cut out what does not matter to you and reallocate it to other areas of your life.
[spp-timestamp time="14:52"] Prioritization. It is really easy to get distracted.
[spp-timestamp time="16:41"] Digit and other apps
[spp-timestamp time="18:56"] The power of your success is down to the power of your network. Also discussing using tax refunds properly
[spp-timestamp time="21:56"] Are we really tracking our budgets? Take your tax refund and put it towards your goals. Taxes and ROTH IRA's
[spp-timestamp time="26:53"] Emergency funds and added expenses funds.
[spp-timestamp time="29:04"] Become more self-aware with money. Track every expense for the next 30 days.
[spp-timestamp time="30:40"] Challenge people to achieve to boost the income by a dollar amount or by a percentage amount
[spp-timestamp time="43:13"] Conferences. Getting out there and growing your network
[spp-timestamp time="47:35"] Final Words
[spp-tweet tweet="Be more intentional with your financial resolutions @whitneyhansenco #MONEYNERD on LIVETHEFUEL"]
Be more intentional. You can do anything in the world that you want. But you can't have everything. Your savings are important. Look at your expenses, does what your spending align with your values and goals? If it doesn't start to make a few tweaks so that it does.