10 Tips to Achieve Financial Sanity in the New Year

This year provided me with many opportunities to interact with LOTS of amazing people throughout the U.S and Canada. Based on hundreds of conversations with fans of Share Save Spend, here are my 10 Tips to Achieve Money Sanity in the new year. Thanks for your inspiration! 

  1. Know your money temperament. Are you are sharer, saver or spender? Knowing how you are “wired” with respect to money will help you chart a course for financial success.  
  2. Have constructive discussions about money. If you are married or in a relationship, make regular appointments with each other to review your money goals and discuss your money habits. A little time invested every week will help you stay on track throughout the year.
  3. Get your kids involved. Use a values-based allowance to give your kids opportunities to practice making money decisions – Share Save and Spend. It’s always easier to instill healthy money habits along they way than unravel unhealthy money habits when they are 20 or 25.
  4. Unsubscribe to all the offers that keep filling up in your in-box. While it was efficient to do your holiday shopping online, unsubscribing can eliminate the perpetual drip of offers to spend money on stuff we don’t need.
  5. Track you spending for 30 days. It’s amazing how much money can just slip away when we aren’t “looking”. Being attentive to your daily money habits will improve your financial wellbeing.
  6. Monitor your credit score. Your credit score is your financial GPA...for life, which is why it’s essential to understand what makes your score go up and down. A good credit score can save you thousands of dollars over a lifetime. Set a credit score goal for 2013 and see how close you can come to achieving it.
  7. Save early and save often. When and where possible, use direct deposit to help you reach your short and long-term savings goals. If you don’t “see” it, you won’t spend it.
  8. Embrace generosity. There are many worthy organizations that need both your time and money. When you prioritize sharing, it will greatly enhance your financial wellbeing.
  9. Beware of the shift. Cell phones are the new medium for currency. While it may be convenient, it will be loaded with lots of new ways to get you to spend more money.  
  10. Don’t let money stress go unchecked. Investing the necessary time and taking the appropriate action is important for both your financial and emotional wellbeing.