5 Steps for the Ultimate Money Makeover

You may have found yourself in this scenario before: you come home and open your mailbox, and there are several bills staring back at you. It’s a tight time financially right now and you wonder if you’ll be able to pay them all on time – and then you remember you have another expense or vacation coming up.

For many, this scenario isn’t far from the truth – but it can all be avoided with a simple money makeover. So, what are you waiting for? Transform those finances with these four easy steps:

  1. Take a Before Photo – We’ve all seen a makeover on reality TV – and no makeover would be complete without a ‘before’ shot. When it comes to instituting a money makeover for yourself, be sure to take a financial snapshot beforehand. The transformation might shock you upon completion.
  2. Make a Plan – No makeover would be successful without a plan to back it up. Before you begin your financial transformation, sit down, write out your goals and set yourself a time frame to lay out how long you’ll give yourself to reach them.
  3. Stop Spending – The first official course of action you can take to start your personal money makeover? Stop the spending! It might be difficult at first, but letting go of a few nights out or that dreamy pair of shoes can do wonders for your finances.
  4. Downsize – If you’re having trouble paying your mortgage, consider downsizing or moving into an apartment. And if you tend to accumulate a lot of stuff like most of us do, start selling off what you don’t need – you’ll clean out your closets, basements and attics and make a little extra cash in the process!
  5. Save – Saving is the key to a successful financial future. Whether saving for retirement, your children’s education or life’s unforeseen circumstances, beginning to stash a little something extra away will make for the ultimate finishing touch on your money makeover.
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