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But simply making a goal isnt going to make someone automatically successful.
The good news is that creating positive change is doable, even if it seems difficult.
So, what should you do if youre trying to sort out your finances?
Heres the five-minutemoney move experts suggest.
This shouldnt take too long to do, and the data that starts coming in will be invaluable.
Do this on a monthly basis to see where your money is going.
Be sure to include every expense, not just the small ones.
This will give you a better idea of your financial situation on both a macro and micro level.
As you start watching your spending, the Coombs suggested asking yourself a few questions.
Was spending higher or lower than the previous month?
What do you anticipate for the upcoming month?
… Identify the causes of higher-expense months and consider if there are ways to prevent those from reoccurring.
Dont worry if you dont have all the answers right away.
It can take time to truly build your financial well-being.
Do Other Experts Agree?
Linking your bank and credit card accounts to a budgeting app can be a game-changer.
Its a big step toward building a better financial picture without the headache of doing it manually.
However, there are a few possible risks to consider.
And while the automation is helpful, I always recommend double-checking permissions when connecting accounts.
Stick to well-known, trusted third parties like Plaid or Finicity for this stuff.
you’ve got the option to also customize your apps permissions.
This way, you get the benefits of budgeting help without handing over everything.
If youre one of them, then this next money move is for you.
Its the most fundamental thing you might do to improve your finances: owe less and save more.
But dont think of it as this big thing.
Just make one small step in the right direction.
Dont discount the small numbers.
Saving even an extra $5 a week is $260 a year.
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