Path to Financial Abundance

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A Step-by-Step Guide

  • Determine Your Inspiration and Motivating Factors
    Define your inspiration and identify motivation to continue moving forward
  • Understand and Evaluate Your Financial Picture
    Track cash flow, review spending to see where your money is going, and make a list of of all debt (credit cards, student loans, auto loans, mortgages, etc)
  • Identify and Prioritize Financial Goals
    Create a list of your short-term, mid-term, and long-term financial goals then prioritize
  • Prioritize and Establish a Debt Payment Strategy
    Use your debt list to implement a debt payment strategy by using the avalanche, snowball, or a combo method then evaluate, monitor, and adjust as needed
  • Create and Implement an Achievable Budget
    Begin utilizing a realistic budgeting system that works best for your lifestyle and make adjustments to adapt to changing needs
  • Save for a Starter Emergency Fund
    Save between $500 to $1500 towards your starter emergency fund to plan for sudden, unexpected expenses
  • Save 3 – 6 Months of Expenses in Emergency Fund
    Increase your emergency fund by saving between 3 to 6 months of living expenses to plan for sudden, unexpected expenses
  • Invest in Retirement Savings
    Save at least 15% of your pretax income annually for retirement, setup automatic contributions, and get your employer’s maximum matching contribution (free money!)
  • Pay Off Your Mortgage
    If applicable, apply extra money toward paying off your mortgage and achieve total debt freedom
  • Build Financial Security and Give Back
    Build a better retirement, set new savings goals, make charitable donations, and pass on legacy by making sure your loved ones are financially secure