Understanding where you fall short with your finances is important. It is just as important as knowing how and where to spend your hard earned money. Aiming for financial freedom should be a top priority for everyone. Financial shortcomings is something that many of us will face due to unforeseen circumstances. Planning and saving for any financial shortcomings that may come up will help soften the impact of the shortcoming.
Knowledge is power – and this well-known phrase is certainly the case here. Take just a few moments to fill out the following questions below. These questions will help you determine if you are on the right track to financial freedom:
- I pay my rent / mortgage and utility bills on time
- I have ten percent of my net income for emergencies saved up
- I plan ahead for large expenses such as taxes and insurance
- I set goals and keep a budget for my net income
- I spend no more than 15-20 percent of my net income on credit payments, excluding home mortgage/ rent
- I use credit only for expensive purchases or when I have the money in the bank to cover the charge
- I balance my chequebook every month
- I keep myself financially updated by reading consumer articles
If you have answered NO to more than 3 of the above questions, it is important that you reach out to a credit counselling company such as @ease Credit Management Solutions www.ateasehelps.ca or 1-877-844-EASE(3273). Licensed Credit Counsellors are financially savvy professionals who act on a customer’s behalf. They speak directly with creditors and work with your existing budget to get you out of debt, as quickly and comfortably as possible. Call today to get informed on how to get out of debt, and stay that way!