Income and Investments Take Note On How to Save! It’s National #FinancialAwarenessDay Read the Article Open Share Drawer Share this:Click to share on Facebook (Opens in new window)Click to share on Twitter (Opens in new window)Click to share on LinkedIn (Opens in new window)Click to share on Pinterest (Opens in new window)Click to print (Opens in new window) Written by Elle Martinez Published Aug 14, 2023 2 min read Have you ever wanted to not stress over your credit cards, car and student loans, or even your mortgage because they were all paid off? Can you imagine what it would be like to have the freedom in your schedule and savings in your bank to take your kids on a cross-country trip? Have you wanted to just retire early so you have more time with the kids and work as you’d like? On my podcast, I’ve had the pleasure of interviewing people who have achieved those goals. And while they each had their own particular journey, there were certain patterns and habits that kept coming up. One crucial piece in executing their plan? They became financially aware. The Power of Financial Awareness It sounds simple, but knowing exactly how much money they were working with and then tracking their progress helped these families in creating a winning game plan. In my book Jumpstart Your Marriage and Your Money, I share the strategies that have worked for families who have accomplished some big personal and financial goals like paying $100,000 of debt, saving for a big dream, and retiring early (even with kids). What these families did was look at two key things – what they wanted to do (their dreams) and where they were now. The first one is a lot of fun. Who doesn’t want to imagine relaxing at the beach, working part-time on a passion project, or building their dream home? The second part, though – the one where you have to see how much debt you’re in or how tight your budget is? Yeah, not so much. Here’s the thing – it is the backbone of winning with money. Put it in the context of your health and what you would do to improve it. If you’re looking to get into better shape, you’ll be keeping an eye on your exercise routine and your diet. Tracking your diet has many benefits, one of which is getting a clearer idea of how much and what you’re actually eating. It can be an eye-opening experience. It’s the same with your finances. Tracking your net worth (the big picture), as well as your usual monthly spending, can allow you to see where your money leaks are. Knowing your numbers can have a powerful effect on how you spend and gives you an idea of where you can save. Thoughts on Financial Awareness Day I’d love to hear from you. What goals do you want to accomplish? How are you planning on staying on top of your money? Previous Post Steps to Establish Trusts for Your Family Next Post Are Credit Card Rewards Taxable Income? Written by Elle Martinez Elle helps families at Couple Money achieve financial freedom by sharing tips for reducing debt, increase income, and building net worth. Learn how to live on one income and have fun with the second. More from Elle Martinez Visit the website of Elle Martinez. Follow Elle Martinez on Facebook. Follow Elle Martinez on Twitter. Leave a ReplyCancel reply Browse Related Articles Crypto Understanding Crypto and Capital Gains Work 7 Things You Need to Know About the New Business Report… Work Using Form 8829 to Write-Off Business Use of Your Home Tax Tips Roth 403(b) vs. Roth IRA: Which Should You Invest In? Life Interest Rates, Inflation, and Your Taxes Investments Essential Tax Tips for Maximizing Investment Gains Uncategorized TurboTax is Partnering with Saweetie to Elevate Hoop Dr… Business Small Business Owners: Optimize Your Taxes with a Mid-Y… Small Business The Benefits of Employing Your Children and the Tax Bre… Income and Investments Are Olympics Winnings Taxed?