If you’re worried about money, you’re definitely not alone. Seven in 10 workers in the United States said they’re stressed about personal finances, according to a survey from PNC.
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The good news? You can work on taking charge of your money situation whenever you want. Here’s some expert advice on five steps to reset your finances in a single afternoon.
Review Your Spending for the Last 30 Days
Christopher Stroup, founder and president of Silicon Beach Financial, said one place to begin is to pull your credit card and bank statements and look for trends. Subscriptions you no longer use, impulse purchases or bloated categories are good places to start.
Identifying just one or two areas to cut back can free up hundreds each month. This quick audit brings clarity and control.
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Revisit Your Financial Goals
Spend 15 minutes listing your top two or three financial priorities. These might include building a runway for your business, funding a Roth IRA or paying down debt. Anchor every future decision to these goals so your financial strategy reflects your actual life, not someone else’s version of success.
Automate Key Transactions
Stroup said a third step is to set up automatic transfers to savings, investments or debt repayment.
“Even small amounts, such as $100 a week toward an emergency fund or brokerage account, can create powerful momentum,” Stroup said. “Automation ensures steady progress without requiring constant willpower or attention.”
Update Your Net Worth Statement
Take stock of your assets and liabilities to get a fresh snapshot of your financial health, Stroup said. It’s a fast way to see progress or to identify where you need to focus. You might even uncover financial wins you’ve overlooked, such as appreciating equity or paid-down debt.
Schedule a Money Date With Your Financial Partner
“Whether it’s your spouse, business partner or financial planner, carve out time for a focused discussion about what’s working and what needs adjustment,” according to Stroup. “Collaboration brings accountability and helps ensure your financial decisions are aligned with the life you’re building.”
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This article originally appeared on GOBankingRates.com: 5 Steps To Reset Your Finances in One Afternoon
