One of the biggest problems I had when I was first starting my personal finance journey was figuring out what were 'reasonable' targets. I wanted a more definitive set of targets to strive for that also had a basis in real changes to one’s quality of life, stage of living, wealth position, etc. I wanted these targets to be... … [Read more...] about Seven Stages of Wealth Building
Tracking Goals
Step 06: Track Key Financial Ratios
Some folks feel budgets don’t work. I feel that the process of building and organizing the budget is even more important than having one. Categorizing where your money should and does go is critical. Apply the same financial discipline we do in business. Remember. You are a business. So do what businesses do! … [Read more...] about Step 06: Track Key Financial Ratios
Step 05: Create a Budget
Planning your spending is key. Having a balanced spending plan should be a financial priority regardless of where you are in life or what your net worth. Call it a budget. Call it something else. Just be deliberate in how you spend your money. … [Read more...] about Step 05: Create a Budget
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