One of the most challenging parts of managing personal finance is knowing how you’re doing and if you’re making the right decisions. Financial information is spread all over the place, from insurance to banking to employment benefits. Having a clear summary of your finances may seem like a daunting task.
The first step in knowing how you are doing on your finances is to clearly define what matters most to you. By clearly defining the life you want to live, you’ll be able to track and measure exactly how you are doing. You will have a greater incentive to make choices that lead you closer to your goals.
The second step in knowing how you are doing on your finances is to set specific, measurable benchmarks to get you there. Then you can break your bigger goals into smaller tasks, with incremental wins along the way. You’ll be able to know exactly how you are doing in terms of your progress.
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