How To FINALLY Be In Charge Of Your Finances

Happy Friday, everybody! I’m not going to lie – this week has been thoroughly exhausting. It started out on a high with my hair appointment with @hmdstyle on Instagram (she’s a blonde wizard I swear) and quickly took a wrong turn as I was driving home. My body decided to mimic stroke-like symptoms and wound me in the back of an ambulance. 10/10 would not repeat. I’m on the mend with some neurology appointments in my future, and will keep you guys updated. ON A HAPPIER NOTE: we are going to be chatting all things finance today in honor of the meeting I had with my accountant last week and my partnership with Allstate. Let’s dive into this.


How To FINALLY Be In Charge Of Your Finances

Set a budget.

Well, obviously, Taylor. That’s kind of a no-brainer. Right, of course. But here are some tips you can use that you may not know:

  • Be open with your partner from the get-go. If you are married or in a joint partnership, it’s so important to lay all your cards on the table so you guys can work together to create a budget that works for both of you.
  • Be realistic. Don’t set a budget you can’t stick to. Make sure you lay all your bills out in front of you and start with the non-adjustable ones first.
  • Visit THIS POST to get an in-depth guide to setting a usable budget.

Set specific financial goals.

This is important. If you want to buy a house, set a financial goal. If you want to pay off debt, set a financial goal. If you want your savings to hit a certain number, set a financial goal. Visible, achievable goals are the key to success. Keep track of what you are saving monthly and even set up separate savings accounts to use. 

How To FINALLY Be In Charge Of Your Finances

Start an emergency fund.

Don’t let this one get away from you. We are already going to have a bunch of medical bills from specialist doctors, ambulance rides and ER visits this week but luckily we have a rainy day fund so we don’t have to be drowning in medical debt Start saving (even just a small amount) a month so you are protected when accidents happen. 

Develop a plan for reducing or eliminating debt.

Almost everyone I know has student debt, medical debt, credit card debt. Basically, I bet everyone of you has SOME kind of debt. The goal is not to be crushed by the weight of your debt until you die. Use money management skills to make sure you are paying them off in a timely manner so you don’t pay a trillion dollars in interest. 

Review your current insurance plans and shop for better ones.

You need an annual insurance review to make sure you stay on top of the most competitive rates and that there isn’t a gap in your insurance policies. There are several ways you can evaluate your current insurance policies and make sure they’re 100% up to snuff and don’t need any tweaking. Head on over to this handy Allstate post that breaks down easy tips for talking with your insurance agent to get right to the point and save you money. 

How To FINALLY Be In Charge Of Your Finances

Know your credit score.

Use free websites like Mint.com to review your credit score. It is important that you know where your credit score is at so you can work to improve it and work your way towards big purchases like buying a home or a car. Knowing what your credit score is can be a huge help.

Make everything automatic.

Set your bank accounts up so that you automatically pull your savings each month. Set up direct deposit and auto-bill so that you don’t even have to think about paying your bills each month – it happens automatically. You’ll never miss a payment or be late. It’s a lifesaver and a timesaver. With those things taken care of, you have time to focus on other more important things.

Ask for lower interest rates.

Many times, you can negotiate lower interest rates for your loan repayments. Medical bills, home loans and students loans all have the possibility to have their interest rates lowered. It’s worth a shot to give a call and see if you can’t figure out how to decrease that percentage, even a tiny bit. That little bit can be deposited directly into your savings account and voila! You can start that oh-so-important emergency fund.

PIN THIS FOR LATER:

How To FINALLY Be In Charge Of Your Finances


Finances are no joke – and it’s important to make sure you are doing everything you can to prepare for your future right now while you are young! My husband and I are making a point to be smart with our money now so that we won’t have to worry in the future.

What are some ways you like to be prepared and plan for your financial future? Let me know in the comments below!

 

 

 

 

This post was written as part of the Allstate Influencer Program and sponsored by Allstate. All opinions are mine. As the nation’s largest publicly held personal lines insurer, Allstate is dedicated not only to protecting what matters most–but to guiding people to live the Good Life, every day.

About The Author

Taylor Mobley

14 COMMENTS

  1. Lily | 2nd Feb 18

    These are all great tips, Taylor. I need to get a system going like the first picture you shared, that is all so organized!

  2. Ruthie Ridley | 2nd Feb 18

    Love this!! Reminds me of the Dave Ramsey ways!! We are working on our E fund and just set a specific goal!!

  3. Helen | 2nd Feb 18

    These are great tips! It really is one of my goals in 2018 to get financially fit. I’m totally saving this for later.

  4. Kyla Matton Osborne | 2nd Feb 18

    Great advice, Taylor! I wish someone had told me to do these things when I was young. There was so much that I never thought about back then because I took it for granted that I’d always have more than enough money to pay for things. When things changed, I was completely unprepared.

  5. Keating | 2nd Feb 18

    So many great tips! This is our #1 priority this year. We need to get our finances under control ASAP. So we set a plan and are so excited to get started on it.

  6. Lisa | amerytina | 2nd Feb 18

    These are great tips! We’re knee deep in taking charge of our finances as we relocate and downsize. I appreciated some of these so much!

  7. Kristen Jones | 2nd Feb 18

    Love these tips! You actually reminded me to pay one of my bills! haha! My hubby and I are in the process of paying down all of our debt from our wedding and school–these tips help so much!

  8. Nikki Gwin | 2nd Feb 18

    Do your files REALLY look like that??? I am in the process of getting our papers in order and I DREAM of them looking like that. haha
    🙂 gwingal

  9. Rachel G | 2nd Feb 18

    We have a couple of financial goals for this year, one being to start doing something more serious about preparing for retirement–we’ve probably already procrastinated a bit too long on that one and I’m only 26, haha!

  10. Kait Around The Kingdom | 2nd Feb 18

    Great tips! My husband and I are really trying to work on this in 2018!

  11. Jennifer Maune | Maune Legacy | 2nd Feb 18

    These are all awesome tips! Asking to lower interest rates is something that we seem to overlook!

  12. Mary Jingjing Mortos Lopez | 3rd Feb 18

    good pointers here. I think the best way for me to manage my finances would be setting a budget for everything. I must work it out this year!

  13. Audrey White | 4th Feb 18

    Setting all of my bills to automatic has been a game changer!

  14. kallie | 5th Feb 18

    SO ORGANIZED. This is folder organization goals. Such helpful tips, too, obviously

Leave A Comment

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Show Buttons
Hide Buttons
Read previous post:
Why Every Woman Needs A Pair of Classic Riding Boots This Winter
Why Every Woman Needs A Pair of Classic Riding Boots This Winter

Happy #fashionwednesday, everyone! I am a sucker for shoes - who isn't, amiright? - and own literally dozens and dozens...

Close