In this video, we are going to be talking about 6 Tips to Better your Finances in 2022, specifically, if you are trying to pay off debt!
My name is Eddi. I am a Career Coach and Personal Finance Educator. Let’s jump right in!
1.) Start with a cash-flow statement. How much money is coming in? How much is going out (bills, debt, spending)?
2.) Create a budget. Now that you know how much you need for bills, now you can allocate money properly. You can see where you can cut back on spending & start saving more!
3.) Pay yourself first. Automate money going into a savings account so you don’t even have to think about it. 50/30/20 Rule –> 50% of your income goes towards needs, 30% goes to wants, & 20% goes to saving/debt payment.
4.) Build an emergency fund. This should be 3-6 months of expenses.
5.) Save for a nice purchase, instead of taking a big chunk out of your paycheck, even if you have the money in the paycheck.
6.) Automate. It decreases your excuses & makes managing finances so much easier.
Bonus Tip.) Take care of yourself before you take care of others.
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If this video helped you out be sure to share it on your social media or with friends and family, and I will see you back here at the same place at the same time for another video. Over and out.
🙋🏻♀️ ABOUT: I’m Eddi, a Tech Recruiter by day and career/money content creator by night. I love to share my knowledge about career progression and personal finance, both things that were never taught in school.
🌟 Disclaimer: My opinions are my own, based on the general experience I have acquired through the years in recruitment and HR and do not reflect that of my employer