Where Do I Begin?

I have been asking the question as to what information is needed or wanted the most by consumers and the response has been, "where do I start?"  Of course reading the first two blogs will be the beginning, because you have to get your mind in its best position in order to do what must be done.  You have to be aware that there are financial and mental traps out there which will hinder your progress.  Most people would say you must begin by creating a budget, but that is not the very first step.  Before you create a budget you must first know where and how you are actually spending your money.  You must first audit yourself to see what your patterns are and your bank statement is the best gauge to show you.  You might be asking why do I need to take the time to go through my bank statements.  The best response I can provide to you is that most people paint pretty pictures for themselves of how they are spending their money, but numbers are not abstract or full of color it is black and white.  Emotions and money can not share the same space in order to be productive they must live separately.  You will use the bank statement to create the budget, by determining the necessities from the wants and fixed payments, as well as how much you actually spend at Walmart or Lowes.  Once you have gathered this information you will begin creating your monthly budget.  You must be asking why do I have to create a budget, when I can just pay the bills as they come?  The best answer I can give you is when you make any kind of plans you always write them down, so that you can gauge your progress.  When you are at work and the boss needs a break down of how you are going to complete a project, you don't just tell him/her you write it  down in a presentation.  You must treat your own personal finance as a business venture and map your progress.  If you don't see what you have and determine where it should go you will eventually loss money.  You can not present a development plan with one set of financials and have no idea of how much you have to work with and determine what is needed to complete the project.  A budget creates a sense of accountability and discipline, which is greatly needed in order to succeed financially.  Here at Renew Financial Consulting, we are edger to help you get started on the right path.