As you begin to take charge of your finances, you may find that you need some professional help. For more information on available services, and how to work with financial professionals, click here.

Read on to learn how taking small steps day by day can build your confidence to keep working at your financial plans.

Are you going to make a concerted effort to lower your regular expenses?

Give yourself permission to acknowledge that lowering your expenses can mean making hard choices. You may have to give up things you don’t want to. It’s not pleasant, it can be frustrating, but if you keep the larger picture in mind – that you’re making choices now to ensure a more secure, financially free future for you and your family – then it can be easier to make those choices.

• Go through your budget and prioritize your expenses. Instead of starting off by thinking that you need to cut items out completely, what expenses could you at least initially lower? Over time, as you lower your expenses, consider whether or not you can eliminate them altogether, or at least put yourself on a different schedule for spending
• Could you raise the deductible on your car insurance (which lowers your monthly cost)?
• What can you quit or cancel – cable TV, cell phone, gym membership
• Shop seasonally. For example, buy summer clothes on sale at the end of summer for the following year.
• Look into competitive utilities to lower costs (i.e. phone services; gas/heat/electric; trash removal; cable or internet service provider)
• Review your banking fees. Could you find a bank that offers free, or less expensive, account services including ATM withdrawal fees, checks, etc.
• Buy a small notebook and record every time you spend money for a month. Review it at the end of the month to get a really accurate picture of where your spending “leaks” are.

Read on to learn how taking small steps day by day can build your confidence to keep working at your financial plans.

If you want to work on closing the gap between your income and expenses by increasing your income

• Do you have skills or talents you think you could parlay into work?
• Do you have personal possessions you could sell?
• Do you have time on weekends or seasonally to pick up additional work?
• Could you find some freelance or contracting work?
• Would having additional education or professional accreditation put you in a position to command a higher salary than you’re currently earning?
• Would you consider looking for other employers in your field that may have openings offering a higher salary?
• Do you have any investments you could sell (i.e. stocks, bonds, mutual funds)?
• Review your taxes (even consider meeting with a tax professional) to make sure you’re taking advantage of every deduction available to you, and to determine if you could lower your withholding so you have additional monthly funds without leaving you with a tax bill at year’s end.
• If you’re currently unemployed, read on to learn more about factors to consider while you’re job-hunting

Read on to learn how taking small steps day by day can build your confidence to keep working at your financial plans.