Debt is a major stressor for every family that I’ve worked with. You've heard me say before: Conquer your debt, conquer your stress. But where do you start?
✅ I want you to get in the habit of having an internal conversation every time you are about to spend money. Yes, every time. Do this for a few months and it will become a fantastic habit. The conversation is pretty simple. Ask yourself: “Is this a need, or a want?”
✅ A need is something that is essential to your well-being. A want is something you’d like to have, but can ultimately live without if its cost will contribute to financial stress. An example: groceries are a need. Eating out is a want.
✅ Give yourself a strict budget for wants so you have more money for saving. And honestly, if you have credit card debt, I would love for you to entirely skip wants for a few months to get the card balance paid off as quickly as possible.
✅ And most important, have faith in yourself to fix this. Every day that you make smart spending choices, and every month that you chip away at a balance, you are moving forward in building your financial security.
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