Commit, plan, invest #21DayMoneyChallenge

Today is the last day of the 21 Day Money Challenge! I know from the comments, emails and messages that many of you have saved thousands, found lost money and have new ways to make more money. Even though it’s finished, you can redo it whenever you like or save your favourite posts to revisit later. Share it with friends and work towards your money goals.

Today, I want you to do a quick recap, schedule in anything you didn’t have time to do during the challenge and check these few things:

1.) Check your net worth again

Has it changed during the challenge? Book a time each month, every quarter or every six months to check your net worth, see what could be tweaked and focus on the financial goals you have for yourself.

2.) Set financial goals

I asked you to set yourself a goal right at the beginning. Did you achieve it? Now I want you to set a new financial goal. If you are in debt, create a plan to pay it off. I like both Dave Ramsey’s and Scott Pape’s options. Basically, start with creating a small emergency fund (around $2,000). Keep that somewhere for EMERGENCIES ONLY! Don’t dip into it for anything and everything.

Next, get cracking on clearing the debt. I have written about how to clear debt on day 9 and mentioned it a few times throughout the challenge. My preference is to write down all your debts then pick either the highest interest rate debt or the smallest amount of debt to tackle and pay it off. Once that debt is cleared, take the payments you were making on it and apply them plus any extra to your next debt. Do this with the next one and continue until you are debt free.

Take time to write down your financial goals and work out what you want in life. Do you want to be debt free, do you want to travel, have investment properties, own shares, buy a house? Whatever it is, make a plan for it and create the lifestyle you want. Don’t try to tackle it all at once, but do make a plan or speak to a financial advisor/planner to help create a plan then work your butt off to make it happen.

3.) Commit

Once you know what you want and have a plan, commit to doing it. Invest time and money in yourself and your plan. This might mean paying for financial advice, a course, upskilling or getting a new qualification to get the career you want, sacrificing for a few months all unnecessary expenses so you can buy a home or working 2 jobs for a while. Do what you need to now so you can have the life you want!

What financial goals are you committing to? What is the lifestyle you want?

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