I’m going to give you some tips to preparing for the new year, financially, by explaining a bit about my coaching program.
People who “struggle” financially often feel a lot of shame or guilt. I think describing my “average” client will help you realize that debt and money issues are more common than you may think:
– Moms and Dads with 2-3 kids ages 5-12
– Household income around $100,000
– Haven’t bought a house yet
– Their budget is off by about $500/month
– Never created or used a budget
– Feel ashamed they don’t make more money
– Live in “good” neighborhoods
– Kids go to “good” schools
– Drive nice cars
– Frustrated they don’t have extra money to save
– Hard Working
– Family oriented
– Busy with life, work, school, kids etc.
A successful budget has three things
1) Personalized – Fits your family’s personal income and expenses
2) Easy to use – If it’s too complicated you’ll dread updating it and won’t use it
3) Feedback – It should give you meaningful data to help you make little course corrections throughout the month.