Welcome to my “Quick Start” guide! I am creating this guide to provide simple, actionable steps to help you get your finances under control in the quickest way possible. If you’re anything like me, when you finally are able to take that step to fix your money, you need to get moving before losing the motivation!

Step 1: Assessment

The first step is maybe one of the hardest things to do, but it is also one of the most important. You have to sit down and assess your current financial situation honestly. Gather up all of your financial documents: bank statements, credit card statements, bills, etc. Get a rough estimate of money coming in and money going out (we will get more specific shortly).

Step 2: Set clear goals

Pretty much everyone needs motivation and that is never more true than when it comes to dealing with finances. I always have a list of financial goals at any one time, but to get started, set a couple of clear financial goals like paying off your credit cards (or a card), saving for a car, or just building an emergency fund. These will help you move in the right direction.

Step 3: Create a budget

This is the most dreaded but absolutely most imperative part of the journey. There are budget apps, spreadsheets (mine is available here and on sale right now!), worksheets, or just pen and paper again. Use whatever works the best for you! Whatever method you use, follow these steps to create a basic budget: Calculate your monthly income, list your expenses and categorize them into bills and wants (or fixed and variable) and then determine how much to allocate to each category.

Step 4: Track Expenses

Keeping track of your expenses will give you a better picture of exactly where your money is going. Use those budgeting apps, spreadsheets or paper again. Soon you’ll be able to see where you can make adjustments.
I have a free, very basic expense tracker on my Freebies page, but you can make your own, find another, use an app, or just write it out with pen and paper.

Step 5: Start Saving

This seems like a very obvious and easy step but it is far from easy when you are already pinching your pennies. Now that your expenses are being tracked, find somewhere you can make adjustments. Even the smallest amounts are something. Transfer that money into a savings account or towards your other goal. Develop the habit!

Step 6: Pay off debt

Who doesn’t have debt? That’s where most of our money bleeds into. Prioritize paying off those debts. Make extra payments when possible, even if it is only a few dollars. I prefer to focus on the highest interest rate debt first because that saves the most money in the long run, but if you want to knock out the smallest debt, that’s a great option too!

Step 7: Emergency Fund

Emergencies are inevitable and they always cost money (usually quite a bit). Everyone needs to have an emergency fund that they can draw from when those emergencies do happen. You should have to have at least 3-6 months worth of living expenses (not including eating out and things you can do without) in a separate savings account. 3-6 months worth sounds like a lot and it is, especially when you are first getting started. Shoot for 1 month and keep going from there! Take the little wins!

Step 8: Seek help if you need it

You don’t have to do this alone! Seek out help if you’re struggling. Financial advisors, community resources or support groups are available pretty much everywhere. Look for free resources but sometimes you may need to spend a little money to work things out. Financial coaches are a fantastic resource and I plan on offering that service soon!

Step 9: Stay consistent!

Consistency and discipline are absolutely key to financial success. Stick to your budget as closely as you can, track your progress (celebrate even the little wins!) and stay focused on your goals! You got this!