12-Week Financial Fitness Challenge
"On the twelfth day of Christmas 2016 gave to me: high interest credit cards, student loan madness, and an anemic savings account."
Does that sound familiar? If it does then join the club. Every year there is high hopes. You join the gym, buy that recipe book, and tell yourself that this is the year that you will save more money or pay off that debt. Yet you enter the next new year in either the same or worse situation.
This year it is time to change and take real action to come into 2018 in a much better place than 2017. This challenge is 20% about knowledge and 80% about action. During each of the twelve weeks we will have an discrete action for you to take to get you closer to your goals delivered directly to your email inbox.
Don't let another year pass you up. Join the challenge now!
Weeks 1 through 4: Getting the House Together
Before you can make improvements you need to know where you stand. This will break it down and give you a plan of where to go. And you can do it in your scream mask! Just because you are doing grownup stuff doesn't mean you have to be that mature...
Week 1: Determine Monthly Cash Flow Details
- This week we will get your cash flow details down. I will give you spreadsheet and PDFs to help.
Week 2: Get Debt Information
- Time to dig up the dirt. I know it can be scary, but here we assess the debt situation.
Week 3: Get Investment and Net Worth Together
- We round off the information gathering with your investment and other assets for a total net worth.
Week 4: Perform Financial Simulation
- With all the details together we can run the Financial Simulation to see when you will be financially free!
Weeks 5 Through 8: Cash Flow Madness
This month we focus on shoring up your cash flow. We look through the details and I will give you specific areas and even scripts to use to help keep everything in check. This will directly result in more monthly savings.
Week 5: Create Budget for the Month
- Now that we have the details together it is time to plan out the cash flow. I will have app suggestions and spreadsheets
Week 6: Renegotiate Recurring costs
- Subscription and monthly costs are easy to get out of control. Here we will look at those cost and eliminate/renegotiate where possible.
Week 7: Assess Insurance Coverage/Costs
- The beginning of the year is a great time to look at insurance. We will see where we might have overlapping coverage and look for ways to save money where needed.
Week 8: Begin Automated Savings
- With the savings we have generated we will set up an automated savings so that you can begin gaining ground.
Weeks 9 Through 12: Investing Roundup
For the last month we end it off with an investing roundup. We will look at your current investments and assess how well they are doing and what they are costing you. If you have never invested before we will put together an investment plan and get you started.
Week 9: Determine Investment Breakdown or create one
- Here we will take a look at your current investments and determine what asset classes you are exposed to and what that means. If you don't have any investments we will decide on some.
Week 10: Fund fee breakdown
- Fund fees can be the most expensive part of investing. Here we will take a look at their impact and how to reduce them.
Week 11: Open IRA and begin investing
- With our investment plan in place and optimized we can begin investing if you haven't already.
Week 12: Recalculate Financial Simulation
- Now that you have made some great financial moves this year we will rerun the Financial Simulation to see what has changed.