I’ve been talking to a lot of people around my neighborhood and  many are concerned about their finances in this economy. They are worried that they might lose their job (if they haven’t already, I have to buddies who were laid off in the last month, one was an engineer, the other in I.T.), getting an emergency fund up, paying down their high interest debt, plus a dozen other things.

They are stressing themselves out worrying, but they are not getting anything done. It’s all for nothing. Focus on one one, maybe two goals for a bit. It will reduce your stress and you’ll have a better chance accomplishing your goals. stock-market

Remember: “Action is Better than Perfection“. Try to go ahead and pick one thing to actually do to improve your finances.

What to Do For Some Common Financial Goals

Here’s the essence of personal finance problems that many people encounter.

  • If you’re in debt, find out how bad it is. Are you $500 in debt or $5000? The amount determines your basic game plan. Try to come up idea to raise money to eliminate debt. Use a debt snowball to get out of credit card debt.
  • If you’re low on savings, start an emergency fund.  Set aside $500 aside for when bad things happen, because they do.
  • If you don’t your retirement fund started, then get started today. Put something away consistently every paycheck. Even if it’s $50/month at first, sock some money away for your future.
  • If you want to maximize your finances, read as much as you can about your options. If you still want more help, contact a fee-based personal finance advisor.

Personal finance can be as complicated as you want or it can be much easier if you want to. Take it step by step: automate your savings, set up free and automatic bill pay, and set aside some money for retirement.

You can also tweak and improve your finances, but getting started is the biggest thing to do. You’re more likely to achieve your goal if you focus on one thing and decrease the stress in your life.

What is your first priority with your finances? How are your doing with your financial goals so far?

Photo Credit: shanti

This post was included in the Carnival of Personal Finance.

Laura Martinez

Laura Martinez