This is it, day 30. The day you’ve been working toward. Congratulations for getting through. In a time of uncertainty, you managed to focus on your financial life for a solid 30 days. That is something to celebrate.
30 Day Goals
How did you do on our 30 day goals?
- Cut $500 in expenses
- Press reset
- Stop guessing
If you aren’t quite there yet, use these goals as a guide for your next 30 days.
It’s Time to Fight
What’s next? It’s the question in the air all around us. No one knows for sure, but we can say this with certainty — it’s time to fight. You are at war for your way of life. You are at war for your home and your kids and your job. You have to be prepared to fight for your finances for at least the next 90 days. Here’s how to prepare yourself:
- Don’t Guess
- 90 Day Plan
Focus on what? Your spending. It’s truly the only thing you can control at this time. Even if you still have income, you don’t know what the next few months will hold. You must focus on what you can control.
When it comes to spending we all tend to make great decisions the day before pay day, but within 24 hours when that paycheck hits we are back to making poor decisions. Spending isn’t easy to control, but it’s all we have now. Use this time of being at home to curb the habits you’ve developed over the years and as we reenter society in the future try to establish new habits.
Know your numbers. You will guess wrong if you don’t look at the real numbers. Denial is a strong force. If you know what the reality of your next few weeks of pay and expenses looks like you’ll make smart decisions, if you guess you are likely to over-estimate how good you are doing.
If you aren’t sacrificing yet, you may be in the next few months. You may already be hurting and it may not go away for a while. This is a dark season, you will make sacrifices, but it’s all for nothing if you don’t have a plan to get out.
90 Day Plan
It always comes back to a spreadsheet doesn’t it? Under normal circumstances a 30 day plan is sufficent. Not now. You need to know what is going to happen financially for you in the next 90 days. List out all your income sources and the days they’ll hit, list out all the fixed expenses you have and the day they’ll hit, and then make your best budget for non-fixed expenditures. Your aim is to see how long you can stay positive. What day are you hitting your emergency fund? What day does your emergency fund run out? What’s your plan then? What can you do to prevent it from happening? There may not be good answers here but there are definitely no good answers if you don’t know what’s going to happen and when.
Thank you so much for being a part of this program! If you want to start from the beginning or send to a friend, you can access all the archived posts here. You can also watch the entire series on YouTube. Please consider talking with one of our Hey Money experts. Finances are confusing enough as it is and to add this crisis on top, it’s nearly impossible to feel confident without help. They are always ready and waiting to help you sort out this mess. Use code ‘cheese’ to get a 10% discount on a monthly subscription just for being a part of the 30 day recession-proof your life program. Stay strong!