Financial Health: Response-ability
The first step to financial success is financial responsibility.
By taking stock of one's monthly expenses and sorting through them
for wasteful expenditures, we can often begin to make a positive
change in our financial status.
To take care of unnecessary financial drains, look for expenditures
that are not providing you with value for your money. For example,
if you have cable TV with all the bells and whistles, ask yourself
if you really need the special movie channels. Do you use them enough
to warrant the cost? Do you need all the features you have with
your telephone service? Do you really read and enjoy the newspapers
and magazines you buy? Once you do your personal cost-benefit analysis,
you will be in a good position to eliminate fiscal waste.
Next, if you have debts, take concrete steps to reduce them. Generate
a plan to consolidate and reduce debts, even if slowly, and stick
to it. Do resist impulses to further expend your resources unnecessarily.
Once you have eliminated unnecessary financial drains and have
started reducing your debt load, you will probably find that things
really begin to fall into place for you financially. Money is a
resource, nothing more, nothing less. We are all better off if we
use it wisely.
Copyright © 2002 Phoenix Life-Coaching.
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