A new year means a new beginning. It's time to put the financial turmoil of 2009 behind us and start the journey toward financial abundance in 2010. Below are tips from Julie Murphy Casserly, founder of JMC Wealth Management in Chicago, on how to jump start that journey and keep it going strong throughout the year.
1) Decide exactly what type of financial life you would like to have. This means identifying your own deep-down desires, your life's passions and allowing them to move you forward. Once you start living your life with purpose, the money will follow. Start mapping out your financial plan. Navigate away from your current financial patterns and create new goals that support your life passions.
2) Clear space in your life to obtain these goals. Oftentimes, there are things and even people standing in the way of your new goals. This is what I call your "crabs in the bucket." - things or people who support your current financial reality. If you have friends who are huge spenders and use credit cards all the time, try to go shopping with those who actually pay cash for items, or spend less frivolously. If you have a "Negative Nancy" in your life, shift your thinking before you encounter them. Say to yourself, "I know what's right for me and I will reach my financial goals this year."
3) Prioritize which items are the first things to go. On your path to financial success, there are going to be things you need to get rid of in your life. This could be material items, or even just a way of thinking. For example, if your closets are too cluttered from all of your shopping sprees, donate them and get a tax deduction. Or, remove the negative thoughts that are taking up space in your brain and replace them with positive thinking and reinforcements. Create space for the new you!
4) Get your credit score cleaned up. If your credit score is below 720, make it a priority to review your credit report and get it cleaned up. This report will filter down to many different items in your financial life and you don't want this standing in the way of your goals. Consider hiring a company like www.veracitycredit.com to assist you.
ChicagoHealers.com Practitioner Julie Murphy Casserly, CLU, ChFC, CFP ®, is a 14-year veteran of the financial services industry and founder of JMC Wealth Management in Chicago.