We are all living our lives for better or worse. Here’s a free financial wellness check to see where you are at and what you can do to better your situation. Sound exciting? Let’s get it.

Debt Check?

Living with debt can put you in a very dark place. For some, it will remain with them for the rest of their lives. For others, we’ll figure a way out.

Digging out of that hole isn’t fun, but it can be done.

If you are drowning in debt, let’s get it under control. Here are some things you can do.

  1. Cut out all the unnecessary spending (Cable TV, Dining Out, etc).
  2. Consolidate your debt (0% balance transfer) so you can focus on paying off one credit card.
  3. Pick one credit card to carry and put the rest away.
  4. Pay down as much as you can every month.
  5. Only use your credit card when you have money to immediately pay it off.

Let’s develop good habits of spending less, not missing a payment and only using credit if you have the cash to pay it off. Remember that credit cards should not be used to finance an unaffordable lifestyle.

Credit Check?

Where are you at with your credit score? Above 800? In the 700s? 600s?

Your credit score determines your credit worthiness. I’d suggest fixing any issues that are causing your debt, because it will ultimately affect your credit score.

Here are some tips go get you going.

  1. Always get your one time free credit report annually from annualcreditreport.com. You will get a report for Equifax, Transunion and Experian.
  2. If you are able to, don’t have more than 1% of credit outstanding.
  3. Make your payments monthly. (Don’t f*ck this up)
  4. Don’t let your accounts close, continue to make small purchases every 3 months and pay them off right away.
  5. If you have proven yourself responsible, maybe get a vehicle loan, home loan, retail card, etc to add to the credit mix.
  6. If you have proven yourself responsible, maybe start looking at travel hacking with a new credit card.

This is not an overnight thing. Over time, your credit score will increase and maybe one day you’ll be able to hit that 850.

Income Check?

If you are not making enough, let’s make more.

Money isn’t everything, but if you can’t enjoy some of it after your bills are paid off, then that’s no fun.

  1. Consider taking on a part time job.
  2. Consider finding a new job.
  3. Consider finding a work from home job.
  4. Consider learning a new high income skill.
  5. Consider adding a responsible lifelong partner.

When you have an excess of money that you can enjoy life a little more and contribute to investments, you have done yourself well.

Investment Check?

I think at this point, you know that buying a consumable won’t make you money. Unless you perhaps have a website, do reviews and make affiliate income. Most of us don’t do that. So, here are a couple of things to know that you are maturing with your money.

  1. If you have a 401K, at least contribute the max to what your employer will match.
  2. Consider creating an investment account with a broker and contributing regularly in ETFs and dividend stocks.
  3. Start looking into other investment strategies and evaluating your risk tolerance.

Don’t let your money sit in your savings account, put it to work for you.

What does your future look like?

So you don’t have any debt or its manageable, your credit score is above 750, your income allows you some extra money to invest, and you have started investing your money, now what?

Well I’d like to applaud you because you are in the minority of people that have their finances under control.

You can stay right where you are at, my friend, because you have achieved a goal not reached by probably 70% of people you know.

But we can either continue to trade time for money until we die, or we can start to make more money with less time by looking at business opportunities that allow for this. Here are my top 3.

  1. Affiliate Marketing
  2. Niched Websites
  3. Start a Local Business

When you can work for yourself, it affords us the ultimate freedom. No one can tell you how much you’re worth and there is no limit.

Summary

Now you know where you are at, now let’s begin working on things to take us to the next level. This may look daunting, but success can be accelerated by your mindset and the people you surround yourself with. We can all enjoy success. Are you willing to get started? Let’s get it!

Need to work on that mindset, check out my audiobook reviews.

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