Hello everyone! My name is Brenda Butnick and I’m a Financial Coach at Jewish Family Service in Dallas. I work one-on-one with clients to help them achieve financial self-sufficiency.
We discussed Why Financial Goals Matter in my last blog and today we will discuss How to Evaluate Your Financial Situation.
Step 1: Evaluate Your Current Financial Situation
Before setting goals, understand where you stand financially. Review:
• Monthly income
• Monthly expenses
• Savings accounts
• Outstanding debts
• Investments
• Credit score
Knowing your financial picture helps you create goals that are realistic and attainable.
Step 2: Define Your Financial Priorities
Ask yourself what matters most right now. Your priorities may include:
• Building an emergency fund
• Paying off credit card debt
• Saving for a vacation
• Buying a home
• Funding your child’s education
• Starting a business
• Planning for retirement
We will discuss How to Create SMART Goals in my next post on Friday, October 30th.
That’s all for your Financial Fitness today!
Until next time – take care and stay financially fit!
