1> For example, are you using too many accounts or too many expense categories? Are you using bookkeeping software that does 100 things but you only need it to do 10 things? Do you have a process that is easy for you to use or should you be hiring a bookkeeper? Talk to an accountant or bookkeeper who understands your industry and can create a plan that is both simple and workable for your specific needs. As they say, Plan your work and then work your plan.
By priorities, we mean building up emergency savings, paying off debt, and padding your retirement nest egg. Seem like a big percentage?
Don’t worry if your goals are small or large – write them! It will flavor your day with more perspective and help piece your purchases to your core goals.
But even though there’s no assurance that writing down your goals will mean you’ll achieve them,
4>Track your expenses to see where you spend money. Look at your checkbook or personal finance software. You can probably find something to cut back on.
Make sure you have adequate life insurance . You don’t know where you’ll be 10 years from now, but you do know that life insurance will cost you more in the future than it will right now. There’s nothing wrong with having more than one policy, so if your employer offers free life insurance, take it. Also, buy a term life insurance policy while you are young and rates are at a 20-year low — whole life insurance isn’t a good investment. Get a simple term policy. Invest the difference in premiums in a low-fee mutual fund or put it into your .