💪Five First Steps to Start Taking Control of Your Money.

I know that managing your finances isn’t easy. Where do you start? How do you know if you’re doing it right?

I think it all comes down to this: Take a first step.

Here are five different “first steps.” Take the one that best fits your personality:

1. Take a tiny amount of money and save it

Who this is best for: You enjoy immediate gratification.

How it works: Apps on our phone push us to spend money. Try one that makes us save easily. There are plenty out there and it makes it easy to just put a few dollars away, automatically. Watch it grow without doing much work.

Tip: Try the app Qapital. (Forgive the funny name.) It’s an easy way to save money automatically. It connects to your bank and automatically withdraws cash in specific savings accounts based on your goals. Set one goal for that next vacation and another for a rainy day fund.

When it might not work: If you don’t want one more app on your phone.

2. Take a look at what you spent last month

Who this is best for: You like getting into the weeds.

How it works: If you’re someone who likes data then let’s see how much you spent. There are many sites and apps that download your banking data to show you where it goes. Learn, but don’t shame yourself. Just use it to better understand your habits.

Here’s a tip: I recommend the app Monarch Money. It’s the easiest budget tracking app out there. It uses emojis in the best way possible. You can get 30 days free here.

When it might not work : If you feel shame about your spending. (I suggest reading these five reasons why you shouldn’t feel shame around money.)

3. Talk about money in a super easy way.

Who this is best for: You ask questions!

How it works: Ask your friends, “How did they learn about money when they grew up?” It’s a question that goes deep without being too intimate. Follow up with questions based on how they answer.

Tip: To help people feel comfortable answering your question, first answer the question yourself. People will often open up when they see that you’re being vulnerable.

When it might not work: You may hear some good, and as well as some sad, stories about money. If hearing about other people’s money life stresses you, then hold off on this one.

4. Get rid of Paramount+ aka Go through your Subscriptions

Who this is best for: You hit subscribe often.

How it works: I once had a client who had three audible accounts! If you get your subscriptions through you iPhone then here is where you find them. Cancel away!

Tip: Sign up for a free month trial on an iPhone app and then cancel immediately. You’ll still get the full month free and you won’t have to remember to cancel on your last free day.

When it might not work: If your family is also depending on your accounts. (Such as my uncle who watched Peacock for WWE.) You could boot them but let’s make sure you keep the family happy. (For instance, I don’t want Uncle Paul to bodyslam me.)

5. Spend like it’s 1872 - Amazon/Costco/Target one day a week.

Who this is best for: You make lists.

How does it work: Let’s take you back 150 years and you’re working on your small apple farm. Six days a week you pick apples. One day a week, Market Day, you get on your horse/mule/yak and head into town and buy all your goods. That was the only option to spend. Now you have a million ways to spend. Let’s go back to Market Day life. Pick one day a week when you do all your shopping.

Tip: Make a list of the rest of the week of what you want. You’ll naturally stop spending once you slow it down.

When it might not work: You use shopping to relieve stress, i.e., you take your horse to market every day.

If any of this piques your interest, let’s have a coffee and see what other steps you can take.