Financial Planning: Getting Back to the Basics

Refine your current budget and create attainable goals

Identify at least two areas that you would like to work on within your current budget and decide whether you want to decrease your expenses or place an additional budget for it. 

By evaluating how much you've spent on a certain matter and identifying the 'new' number you'd like to establish, you're one step closer to attaining your goal. Remember that your goals aren't impossible, but there has to be a fresh approach adopted to see them through.

If you have newly acquired debt, here are some suggestions on how to tackle them without getting overwhelmed:

• Take a breather and remember that things happen all the time, you're not alone.
• Review all credit card statements and other potential bills, list them down cohesively (due dates, amounts, creditors) on a notebook or an excel sheet.
• It is recommended to tackle high-interest accounts first, but you can also take inventory of what works best for you.