Action Steps


Follow one of these steps every day and become wealthy!

Get a notebook and label it: “(your name) Personal Finance” and keep it by the computer. Use it for all of your personal finance thoughts, activities, and plans.

1. Whenever you get ANY money; paycheck, gift, gambling winning, lottery winning, even cash you picked up from the ground, put part of it in a savings account. Don’t think, just do it! Make it a habit.

 2. Write down a couple of paragraphs about how you want your life to look. Include money goals, leisure activity goals, personal goals, and/or career goals.

 3. In your notebook, list all the things, people, experiences, attitudes, that you have that you value. Do this regularly, every couple of days. It will make you rich with life satisfaction. I call this activity my “Attitude Journal,” because it always boosts my attitude!

4.  Change your mind!! Give up the idea that you need to impress others and overspend to look rich. Make 2 columns on a page in your personal finance notebook and write down the ADVANTAGES and DISADVANTAGES of overspending. Review it when you are tempted to spend unwisely.

5. Look at your bills, bank statements, pay stubs, credit card statements for the last month and make an Income and Expense/Spending Chart like Michelle’s (don’t forget to add in food, entertainment, household, personal care, and any other expenses/spending).  

6. Write down 5 expenses that you can cut out or reduce immediately.

7. On your To Do List write down one or more FUN activity(ies), and do it (or them)!

8. Get rid of debt now. Go to an online calculator such as these at  bankrate  and moneychimp.  Plug in different repayment amounts, to see the how fast you can pay off the debt.

9. Write down the amount you are willing to commit to debt repayment in a visible place, list a couple of spending items you will reduce, and PAY OFF THE DEBT.

10. Take a small pad with you during the day, and jot down all of your spending for a day……. a week……… a month.

11. Grow your emergency savings to 6 months of living expenses in a bank savings account or money market fund by transferring automatically from your paycheck or checking account to a savings account.

12. Focus your attention on what you’re doing as you go through your day and appreciate each moment as time is your only nonrenewable resource.