Being financially successful means you are in control of your money.  If you are struggling, financial success may seem like a distant dream, but by following these steps and you can achieve your financial goals

Establish Goals

Identifying clear, achievable goals is a crucial part of anyone’s financial plan. A financial goal is the exact amount of money needed for a specific purchase or service at a definite date. Making the goal precise helps you determine how much you need to set aside each month and track your progress.

Evaluate Your Current Financial Situation

Are you on the right track or do you need to make changes?

Net Worth

Assets are things that you own that have monetary value. Liabilities are monetary obligations to other people or companies. Your assets minus your liabilities is your net worth.

Cash Flow

Know exactly where your money is going each month. Determine the cause of you financial distress by assessing your cash flow. Incomes are cash in-flows. Your gross income is your income before taxes are taken out. Your net income is your income after taxes are taken out.


list your income and expenses. To get as accurate figures as possible, you may want to track your daily spending. If your income exceeds your expenses, you have a positive cash flow. If your expenses exceed your income, you have a negative cash flow.

Develop a Spending and Savings Plan

Once you take stock of what your current situation is, it is time to create a spending and savings plan. Your spending and savings plan should show where you want your money to go in the future. How much will you spend on clothing? How much will you set aside in your retirement fund? How much will you spend at the grocery store?

Tracking your expenses on an ongoing basis will help you to see when you should stop spending because you have reached your limit in a particular category.

While you are creating your plan, keep in mind the golden rule of money management: your expenses (including the money going into savings) should never exceed your income.

increase your income and/or reduce your expenses. Increasing income can be difficult, but most people have some expenses they can trim. Honestly assess what is a necessity and what isn’t.

Tracking your expenses on an ongoing basis will help you to see when you should stop spending because you have reached your limit in a particular category.

Establish an Emergency Savings Fund

Unexpected things happen, and for those living paycheck to paycheck, it can be hard to deal with them. Establishing an emergency savings fund provides a cushion that allows you to pay for expenses should the unexpected occur.  saving at least three to six months worth of essential living expenses. A savings account is usually a good choice. Saving is easier if you make it an automatic process.

Make Sure You’re Covered

Events such as a severe illness, car accident, or house fire can put a serious cramp in your financial health, even if you have savings. Having the right amount of insurance will help protect you from the financial consequences associated with many of life’s adversities.

Health Insurance

Disability Insurance

Life Insurance

Auto Insurance

Homeowners Insurance

Renters Insurance


Establish a Good Credit History

In order to have a good credit report and score, you need to have credit.

A good option for many people just starting out (or rebuilding) is a secured credit card. A secured credit card requires you to put down a deposit, which the creditor gets to keep if you do not make payments. Pay off your Debt Your credit report and score, car loan. It helps to have a secured credit card. Once you establish good credit be sure to protected your credit as best as possible.

Invest Diversely

You know where you should store your emergency fund, but where should you put your savings for other goals? There are three main types of investment classes:



Cash equivalents

Network Marketing

The low startup cost of setting up a network marketing company is a great advantage to have. It is very hard to start a big business without huge investments and time. A network marketing company will give you the time you need to build your business skills and transition from being a low-level employee to a highly paid businessperson. Network Marketing supplies you with a residual income, so you make money while you sleep and travel.

Invest as Little as $10.  Pay No Fees.

Delete Your Debt

Focusing your extra payments on one creditor at a time instead of sending a little extra to all of your creditors.

Pay off your debt from the smallest to largest.

Buy a Home

Check Your Credit Report & Score. Before getting a mortgage or any kind of loan, you should always check your credit. Figure out How Much You Can Afford. You can calculate how much you can afford by starting online. Find the Right Lender and Real Estate Agent. To find the right mortgage lender It’s best to shop around. Get recommendations from your friends and family and check with the Better Business Bureau.

Look for the Right Home. Make a list of the things you’ll need to have in the house. Make an Offer on the Home. start is about five percent below the asking price. how much comparable homes have sold for. Somewhere, you have to meet in the middle. Once you’ve agreed on a price, you’ll make an earnest money deposit, which is money that goes in escrow to give the seller a sign of good faith.

Get the Right Mortgage for Your Situation

There are many different types of mortgage programs out there, but as a first-time home buyer, you should be aware of the three basics: adjustable rate, fixed rate and interest-only.

Adjustable rate mortgages (ARMs)
Fixed-rate mortgages
Both fixed and adjustable rate mortgages

Close on Your Home

Make sure you get a home inspection before you close. It will be well-worth the money spent since it ensures the property’s structural soundness and good condition.

Closing costs will likely include (but are not limited to) your down payment, title fees, appraisal fees, attorney fees, inspection fees, and points you may have bought to buy down your interest rate.

Move In!

You’ve got your mortgage, closed the deal and now it’s time to move in! Whether you use a mover or not is up to you, depending on your financial situation and how much stuff you have to move; perhaps also, whether you have a lot of friends willing to help you move. Either way, you’re done with the home buying process! Just start unpacking and start enjoying your first home! Buying a home for the first time doesn’t have to be a hassle if you’re prepared and you know what to do and when to do it. Choose an experienced home loan lender and a friendly, knowledgeable real estate agent-they are the key to helping you have a smooth home buying experience!