Free Checklist to Help You Become Financially Stable

In 2010, Mr. Right and I successfully eliminated more than $42,000 in debt.

While I believe we’re smart about money now, we weren’t always so wise. We racked up credit card balances and spent more money than we had on stuff we didn’t need.

Dave Ramsey’s debt snowball method came to our rescue. Besides the obvious benefits of financial freedom, becoming debt free truly changed our life – I now work from home, pursuing my dream of becoming a novelist. My new schedule is flexible for housework, appointments and after-school activities. The whole family wins.

If you dream of  becoming financially stable, the checklist below can get you started down the right path (free download available at the end of the list).

Financial stability checklist

  • Save $1,000 dollars in your checking account, but pretend the money isn’t there. This is your emergency fund and prevents mistakes like overdrafts and credit card spending.
  • Know where every dollar is spent. Divide your expenses by category and use this information to set a budget. Here is a worksheet via Kiplinger.
  • Cut expenses. Read more in my post 20 little ways to save a lot of money.
  • But give yourself a realistic spending allowance. Otherwise you are setting yourself up to fail. This may mean working more than one job or finding a better job until you’re out of debt.
  • Only shop when you truly need something. Use the extra time you save from shopping less to care for the stuff you already have.

Click here now to download a free Word document of the checklist above.

Recommended reading: My book, The Hybrid Homemaker, which fully recounts my journey toward personal and financial freedom.

 

Photo bWanderingtheWorld.

Check out Arrows by Melissa Gorzelanczyk, coming January 2016 from Delacorte Press/Random House. Visit her author site here.

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