Seven Steps toward Financial Fitness
Tired of embarrassing overdrafts, leftover credit card balances, or too
much month and not enough money? Then it may be the time for you to get
into a Financial Fitness Program!
Start now to get your finances on track and moving in the right
direction by following these steps to Financial Fitness.
“You’ve got to have a dream, if you don’t have a dream, how you
gonna make a dream come true?” Believe it or not, that lyric from the
old Broadway song makes perfect Financial Sense. We spend so much of our
lives working but to what end? Although money is not the only thing needed
to achieve our dreams, it certainly can help. Dare to dream about your
future and then plan for that dream to
2) Set Financial Goals
It’s a good idea to develop short term, medium term and long-term
goals. Just remember to “pay yourself first.” It’s your money. You
earned it. You deserve to know that some portion of that paycheck is going
toward some reward for a job well done. That could mean a simple outing
planned for yourself (short term), a portion set aside for a new car
(medium term) and a portion set aside for a retirement plan (long term).
After you have paid yourself first, determine what else you want to
accomplish with your money and set the goals accordingly. And
remember: if you are in any kind of debt then, “Get out of debt”
should be high on your list of objectives.
3) Know your situation as intimately as possible
Get the Facts about your income and spending habits. PMT xl can help
you to determine your monthly living expenses, periodic expenses, debt
payments, and so on in detail. You will then be able to create a realistic
budget that suits your individual needs and lifestyle.
4) Develop a Realistic Budget
PMT xl is based on double entry bookkeeping principles. The major
advantage of a double entry bookkeeping system is that it provides a
continual check on accuracy.
Using PMT xl as a daily expense journal will assist you in identifying
how you spend your money, and where any adjustments need to be made.
PMT xl will help you to develop and monitor your budget and spending
closely. At a glance you can compare your actual expenses with the
budgeted ones for any category or description item.
5) Keep Monthly Expenses below Monthly Income
Its important to Develop Good Spending Habits by first recognizing the
difference between your needs and your wants; keeping a record of your
daily expenditures; paying your bills on time; and learning how to use
credit wisely. (Use credit for safety issues, convenience and large,
planned purchases only.)
With PMT xl entering your transactions as they occur is fast and easy.
PMT xl takes care of the rest of the tracking process and instantly gives
updates about your financial status on the Balance Sheet.
6) Save, Save, Save!
Saving is a great exercise for reducing the strain of those financial
surprises that inevitably come along. Save between 10% and 15% of
your net income for periodic expenses; save again to accumulate six months
expenses as an emergency fund; and save again for a portion to be
allocated toward a retirement pension or funds.
Saving comes with an added bonus - Peace of Mind, which is, of course,
7) Start Today!
Time is money, they say. And wasting or losing either time or money is
something most of us just cannot afford.
So, begin your Financial Fitness Program today! PMT xl’s Tutorial and
Reference Guide will help get you started, and our Help line by email is
available for further assistance if required.
It’s Time to get Financially Fit! You are worth it, and
PMT xl can help! Try it or
and get started today!