Stabilize your finances.
from No Excuses!: The Power of Self-Discipline by Brian Tracy
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Telling yourself that you will take control of your finances will condition your mind to do just that.
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Determining your net worth will allow you to recognize where you stand financially.
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Being frugal and saving up will give you long-term benefits in terms of financial stability.
How to Apply This
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Tell yourself that you will take control of your finances.
Make it clear to yourself that you will get out of debt and you will achieve financial independence. -
Set up a new bank account and deposit at least 1% of every paycheck you receive.
These are your “savings.” Do not spend them unless you absolutely have to. -
List out your debts and start paying them off immediately.
Prioritize those with the highest interest rates. -
Be frugal.
Don’t spend money on unnecessary items.
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