Starting Strong: The Ultimate Checklist for Your 2025 Financial Success

As we turn the page on a new year, there's no better time to refresh your financial mindset and set goals for lasting success. A fresh start in 2025 brings an opportunity to build on the lessons of the past while implementing new strategies that keep you moving toward financial freedom. Whether you're looking to get out of debt, grow your savings, or invest for your future, here’s your ultimate checklist to kickstart your financial success for the year ahead.

1. Reflect on the Past Year

• Start by reviewing your financial wins and challenges in 2024. Were there goals you didn’t quite hit, or expenses that crept up unexpectedly?

• Take note of areas you want to improve and celebrate any progress you made, no matter how small. This reflection will give you clarity as you set intentions for 2025.

2. Set SMART Financial Goals

• Make sure each goal you set is Specific, Measurable, Achievable, Relevant, and Time-bound (SMART). Instead of a vague “save more,” try “save $5,000 by year-end for emergencies.”

• Include short-term, and long-term goals that balance immediate needs with future aspirations.

3. Create a 2025 Budget that Aligns with Your Goals

• Draft a monthly budget that reflects your income, essential expenses, and savings targets. Budgeting doesn’t have to be restrictive—it’s about empowering yourself to make informed choices.

• Don’t forget to account for annual expenses like holiday gifts, insurance premiums, or upcoming vacations so that they don’t catch you off guard.

4. Build Your Emergency Fund

• An emergency fund is a non-negotiable pillar of financial security. Saving one month of expenses allows you to manage your finances with a monthly budget. 

• If you already have an emergency fund, consider increasing it to cover rising living costs or any potential new expenses.

5. Attack Your Debt with a Purpose

• Outline a strategy for tackling debt, whether it’s credit card balances, student loans, or car payments.

• Consider using tools like balance transfer offers or negotiating interest rates to speed up the process, but stay disciplined and stick to your payment plan.

6. Boost Your Savings with Automated Transfers

• Make saving easy by setting up automatic transfers to your savings and investment accounts. This helps make saving a habit and ensures you stay on track.

• If you’re not sure how much to set aside, start small and increase your savings rate over time.

7. Evaluate and Adjust Your Insurance Needs

• Review your current insurance coverage to ensure it aligns with your needs. Health, auto, home, life, and disability insurance are essential tools for protecting what you’ve worked hard for.

• Look for any gaps in coverage and consider if changes are needed due to life events, such as marriage, having children, or buying a home.

8. Invest with Confidence

• If you haven’t started investing, now is a great time to learn the basics and explore your options. Whether it’s a retirement account, stocks, or mutual funds, investing is key to growing your wealth.

• Don’t just dive in; take the time to understand your risk tolerance and long-term goals. Consulting with a financial advisor may help you design a portfolio that suits your needs.

9. Track and Adjust Monthly

• Financial success requires consistency and attention. Check in with your budget and goals each month to make sure you’re on track.

• Celebrate your progress, no matter how small, and adjust as needed to accommodate unexpected expenses or shifts in priorities.

10. Stay Educated and Engaged

• Make 2025 the year you commit to financial literacy. Books, podcasts, and online resources (like “I Was Broke. Now I’m Not.”) can keep you informed, inspired, and motivated.

• Join a community of like-minded people who can encourage you on your journey. Financial success is about building wealth and enjoying life, so seek out resources and communities that align with your values.

Starting 2025 with Confidence: Your Fully Funded Life Awaits

As you step into 2025, remember that financial success is a journey—and with the Fully Funded Life Membership, you don’t have to travel it alone. Setbacks may arise, but with a clear plan, expert guidance, and a supportive community, you’ll be equipped to navigate every twist and turn.

This is your year to make empowered, intentional financial choices that lead to freedom, security, and a life of abundance. With Fully Funded Life by your side, you’ll have the tools and confidence to turn 2025 into a year of transformation and success.

Start your Fully Funded Life today and make 2025 your best financial year yet!

3 Things You Can Learn from Unmet Goals

Unmet financial goals can be discouraging, but they also provide valuable insights if you approach them with the right mindset. Instead of viewing these unmet goals as failures, consider them as opportunities to learn and improve your financial strategy. Here are three key lessons you can learn from unmet financial goals and how to use these insights to strengthen your financial future.

1. Understand What Went Wrong

• Identify Financial Barriers: Examine the reasons behind your unmet financial goals. Did you underestimate expenses, overestimate income, or fail to account for unexpected costs? Understanding these barriers is crucial for avoiding similar pitfalls in the future.

• Evaluate Your Financial Plan: Review the financial strategies you employed. Were your budgeting methods effective? Did you have a clear plan for saving or investing? Assess whether your approach was realistic and aligned with your financial situation.

• Learn from Financial Feedback: If your unmet goals involved financial advisors, family members, or colleagues, gather their feedback. They might offer valuable insights into what could have been done differently.

Use this analysis to refine your financial plan. Adjust your budget, create more accurate forecasts, and develop strategies to better manage unexpected expenses.

2. Reassess Your Financial Priorities

• Evaluate Financial Goals: Reflect on whether your financial goals were realistic and aligned with your current priorities. Sometimes unmet goals occur because they no longer fit with your financial situation or life stage.

• Adjust Your Focus: Ensure your financial goals reflect your current needs and priorities. For example, if your goal was to save for a vacation but unexpected expenses arose, it may be time to prioritize building an emergency fund first.

• Set New, Realistic Goals: Based on your reassessment, set new financial goals that are achievable given your current circumstances. Make sure these goals are relevant and aligned with your immediate financial needs and long-term aspirations.

Align your financial goals with your current priorities and financial reality to increase the likelihood of achieving them.

3. Develop Financial Resilience and Adaptability

• Build Financial Resilience: Unmet financial goals can be a setback, but they also provide an opportunity to build resilience. Learn to view financial challenges as a natural part of the journey toward financial stability and growth.

• Embrace Adaptability: Financial circumstances can change unexpectedly. Cultivate adaptability by being flexible with your financial plans. If a goal becomes unfeasible, adjust your strategies or timelines accordingly.

• Strengthen Problem-Solving Skills: Use the experience of unmet financial goals to enhance your problem-solving skills. Analyze what went wrong and develop strategies to address similar issues in the future.

Develop resilience and adaptability to better manage financial setbacks and adjust your strategies for improved outcomes.

Unmet financial goals are not failures but valuable learning experiences. By understanding what went wrong, reassessing your priorities, and developing resilience, you can turn these setbacks into powerful growth opportunities. Use these lessons to refine your financial strategies and enhance your ability to achieve financial success.

5 Financial Habits For The New Year

As the new year approaches, it’s the perfect time to evaluate your financial health and make improvements. Establishing strong financial habits now can set you up for long-term success, making it easier to reach your financial goals and secure your future. Here are five essential financial habits to adopt this year:

1. Create (and Stick to) a Budget

Budgeting is a fundamental aspect of managing your finances effectively. By creating a budget, you gain a clear understanding of your income and expenses, which helps you live within your means and avoid overspending. Here’s how you can build an effective budget:

• Track Your Income and Expenses: Begin by listing all sources of income and categorizing your monthly expenses. Tools like EveryDollar, Mint, or YNAB can simplify this process.

• Set Spending Limits: Allocate specific amounts for different expense categories, such as groceries, entertainment, and savings.

• Review and Adjust Monthly: Life changes, so your budget should too. Regularly review and adjust your budget to reflect any changes in your financial situation.

A well-structured budget is your roadmap to financial stability, helping you manage your money more effectively and reach your financial goals.

2. Build an Emergency Fund

An emergency fund is a financial safety net that protects you from unexpected expenses, such as medical bills, car repairs, or job loss. Here’s how to start building your emergency fund:

• Determine Your Target Amount: Aim to save 3-6 months’ worth of living expenses. This amount provides a cushion for most unexpected events.

• Automate Your Savings: Set up automatic transfers to a separate savings account dedicated to your emergency fund. Start with a small, manageable amount if necessary.

• Save Regularly: Consistency is key. Even small, regular contributions to your emergency fund can add up over time.

Building an emergency fund provides peace of mind and financial security, ensuring you’re prepared for life’s unexpected challenges.

3. Pay Down Debt Aggressively

Debt can hinder your financial progress and impact your overall financial health. Reducing and eventually eliminating debt should be a priority. Consider these strategies:

• Choose a Repayment Method: The Snowball Method involves paying off the smallest debt first, while the Avalanche Method focuses on paying off the highest-interest debt first. Both methods can be effective; choose the one that motivates you the most.

• Explore Debt Consolidation: If you have high-interest debt, consider debt consolidation or refinancing options to reduce your interest rates and simplify payments.

• Commit Extra Funds: Allocate any additional income or savings towards debt repayment to accelerate the process.

By aggressively paying down debt, you’ll improve your credit score, reduce financial stress, and free up resources for other financial goals.

4. Set Clear Financial Goals

Having clear financial goals gives you direction and motivation. Whether you’re aiming for short-term or long-term goals, it’s important to define and plan for them:

• Define Your Goals: Set both short-term goals (e.g., saving for a vacation) and long-term goals (e.g., buying a home or retirement).

• Use the SMART Framework: Ensure your goals are Specific, Measurable, Achievable, Relevant, and Time-bound to make them more attainable.

• Track Your Progress: Use financial tools or apps to monitor your progress and stay on track.

Setting and tracking financial goals helps you stay focused and make meaningful progress toward achieving your dreams.

5. Start Investing Early

Investing is crucial for building wealth and preparing for the future. Starting early allows your money to grow through compound interest. Here’s how to begin:

• Understand Different Investment Options: Explore various investment avenues such as stocks, bonds, mutual funds, and real estate. Diversification can help manage risk.

• Consider Low-Cost Options: For beginners, low-cost index funds or employer-sponsored retirement plans like a 401(k) are excellent starting points.

• Start Small: Even modest investments can grow significantly over time. Begin with what you can afford and increase your contributions as your financial situation improves.

Investing wisely helps you accumulate wealth and provides financial security for the future.

Adopting these five financial habits will set you on the path to a more secure and prosperous financial future. By creating a budget, building an emergency fund, paying down debt, setting clear goals, and investing early, you’ll be well-equipped to achieve your financial objectives.

Fall Financial Cleaning: Steps to Organize Your Finances Before Year-End

As autumn settles in and you start thinking about tidying up your home, it’s also a great time to give your finances a thorough cleaning. Just like fall cleaning helps you prepare for the new season, organizing your finances before the year ends can set you up for a successful financial future. Here’s how to do a fall financial cleaning in just three simple steps: 

Review and Adjust Your Budget

Take a close look at your current budget and compare it with your actual spending over the past year. Have you overspent in some areas or saved more than expected in others? Use this review to adjust your budget for the final months of the year. Make room for any upcoming expenses and ensure your spending aligns with your financial goals.

Organize Financial Documents

Gather all your important financial documents, including bank statements, receipts, and tax-related paperwork. Organize these documents so you’re ready for tax season and any other financial planning needs. Consider digitizing documents for easier access and to reduce physical clutter. An organized financial record will make managing your finances much smoother.

Review Financial Goals and Progress

Reflect on the financial goals you set at the beginning of the year. How close are you to achieving them? Based on your current financial situation, adjust your goals if necessary and set new targets for the upcoming year. Review your savings and investment plans to ensure they are still on track and make any needed adjustments.

By reviewing your budget, organizing your financial documents, and assessing your financial goals, you can finish the year on a strong note and start the new year with clarity and confidence. This fall, take the time to clean up your finances and prepare for a successful financial future.

5 Ways to Cultivate a Generous Mindset

In a world that often emphasizes accumulation and self-interest, choosing to cultivate a generous mindset can be a transformative act. Generosity is not just about giving money—it's a way of life that can enrich both the giver and the recipient. Whether you’re just starting your journey towards financial freedom or you’re already well on your way, here are five ways to develop a generous mindset that will positively impact your finances and your life.

1. Practice Gratitude: The Foundation of Generosity

Generosity begins with a sense of gratitude. When you focus on what you have rather than what you lack, it’s easier to recognize opportunities to give to others. Gratitude shifts your mindset from scarcity to abundance, making you more inclined to share your resources, whether they be time, money, or talents.

One simple way to practice gratitude is by keeping a gratitude journal. Each day, write down three things you’re thankful for. Over time, you’ll notice that your perspective shifts, and you’ll find more joy in giving.

2. Start Small: Generosity Begins with Small Acts

Generosity isn’t measured by the size of the gift, but by the intention behind it. You don’t need to make large donations or grand gestures to make a difference. Small acts of kindness, like buying a coffee for a friend or donating to a local charity, can have a significant impact.

Start with what you have. If you can’t give financially, consider donating your time or skills. The important thing is to cultivate the habit of giving regularly, no matter the size.

3. Set Giving Goals: Intentionality in Generosity

Just as you set financial goals for saving or investing, it’s important to set goals for giving. By setting specific, measurable goals, you can make generosity a consistent and intentional part of your life.

Think about the causes you care about and set a giving goal that aligns with your values. Whether it’s a percentage of your income or a specific dollar amount, having a goal helps you stay committed to making generosity a priority.

4. Surround Yourself with Generous People: The Power of a Generous Community

The people you surround yourself with have a significant impact on your mindset and behavior. Being part of a community that values generosity can inspire and motivate you to give more.

When you’re surrounded by generous people, you’ll find that generosity becomes contagious, leading to a greater collective impact.

5. Reflect on the Impact of Giving: See the Fruits of Your Generosity

Finally, take time to reflect on how your generosity has impacted others and yourself. Reflecting on the positive outcomes of your giving can reinforce your commitment to living generously and help you see the difference you’re making in the world.

Ask yourself questions like:

• How has giving changed my perspective on money and wealth?

• What impact has my giving had on those I’ve helped?

• How has generosity enriched my life?

By reflecting on these questions, you’ll deepen your understanding of the value of generosity and be more motivated to continue giving.
You can make generosity a core part of your financial journey, it just starts with one step.

When Should I Start Planning and Saving for Retirement?

Retirement may seem like a distant milestone, especially when you're juggling current financial obligations. However, when it comes to planning for your retirement, the question isn't just "When should I start?" but rather, "How soon can I start?" We believe that proactive planning is the key to achieving financial security, and that includes your retirement. So, let’s dive into when you should start planning and saving for retirement.

The Earlier, the Better

If there's one piece of advice that stands the test of time, it's this: the earlier you start saving for retirement, the better. Why? Because starting early allows you to take full advantage of compound interest, the process where your investment earnings generate even more earnings over time. This can significantly grow your retirement savings.

But what if you're already past your 20s or 30s? Don’t worry—it's never too late to start. The key is to begin as soon as possible and be consistent with your contributions. Even small amounts saved regularly can grow significantly over time.

Understanding Your Retirement Goals

When it comes to retirement, one size does not fit all. The amount you need to save depends on your specific retirement goals. Do you envision traveling the world, downsizing to a cozy home, or maybe starting a small business in your retirement years? Each scenario requires a different level of savings.

Start by setting a clear financial vision for your retirement. Ask yourself questions like:

• At what age do I want to retire?

• What kind of lifestyle do I want to maintain?

• What will my monthly expenses likely be?

Once you have a clear picture of your retirement goals, you can estimate how much you'll need to save. This will give you a target to work towards, making it easier to stay motivated and on track.

Adjusting Your Plan as Life Changes

Life is unpredictable, and your retirement plan should be flexible enough to adapt to changes. Whether it’s a career change, starting a family, or experiencing unexpected health issues, these events can impact your retirement savings strategy.

It's important to regularly review your retirement plan and adjust it as needed. For example, if you receive a raise, consider increasing your retirement contributions. Or, if you experience a significant life change, reassess your retirement goals to ensure they still align with your current situation.

Being flexible doesn’t mean being passive. Regularly monitoring your progress and making informed adjustments will help you stay on course to achieve your retirement goals.

The journey to a secure retirement begins with a single step, and the best time to take that step is now. By starting early, setting clear retirement goals, and being flexible as life changes, you can create a solid plan for your future. Remember, retirement planning is not a one-time event but an ongoing process that evolves with you.

Blame vs. Accountability: How to Cultivate a Positive Money Mindset

When it comes to personal finance, the mindset you adopt can be just as important as the strategies you implement. Many people struggle with their finances, not because they lack knowledge, but because they fall into the trap of blame instead of embracing accountability. Shifting from blame to accountability is crucial for cultivating a positive money mindset that leads to financial success. Here’s how to make that shift…

1. Stop Blaming External Factors

It’s easy to point fingers at external factors when things go wrong financially—whether it’s the economy, your employer, or unexpected expenses. While these can impact your finances, blaming them won’t solve the problem. Instead, recognize that while you can’t control everything, you can control how you respond.

A positive money mindset starts with taking ownership of your financial situation. This doesn’t mean ignoring real challenges, but it does mean refusing to let them dictate your financial future. Acknowledge what’s within your control, and focus on actions that move you toward your goals.

2. Embrace Accountability

Accountability is the opposite of blame—it’s about taking responsibility for your financial choices, both good and bad. When you hold yourself accountable, you empower yourself to make changes. Instead of dwelling on past mistakes, use them as learning opportunities.

One practical way to embrace accountability is by tracking your spending and setting clear financial goals. Tools like the Fully Funded Life Ladder can help you visualize your progress and keep you on track. Being accountable to yourself (and even to a trusted friend or financial coach) can transform how you approach money management.

3. Focus on Growth and Learning

A blame-based mindset keeps you stuck in the past, but an accountability-based mindset opens the door to growth and learning. Recognize that building financial literacy is a journey, and every step forward is progress. Whether it’s reading financial books, attending financial workshops, or exploring the resources we have available, continuous learning is key to cultivating a positive money mindset.

Investing in your financial education will help you make informed decisions, and as your knowledge grows, so will your confidence. Remember, the more you learn, the more empowered you become to take control of your financial future.

Shifting from blame to accountability is essential for fostering a positive money mindset. By taking ownership of your financial situation, embracing accountability, and focusing on continuous learning, you can create the foundation for lasting financial success. Start today by exploring our tools and resources and take that first step toward a brighter financial future.

Why You NEED an Encouraging Financial Community

When it comes to managing money, going it alone can be tough. Whether you’re trying to get out of debt, save for a big purchase, or invest for the future, the journey can feel overwhelming at times. That’s why having an encouraging financial community is not just beneficial—it’s essential. Here’s why you need one…

1. Support and Motivation

Achieving financial goals often requires persistence and discipline, and there will inevitably be moments when you feel discouraged or tempted to give up. An encouraging financial community provides the support and motivation you need to keep going. Surrounding yourself with people who share similar goals and values can make all the difference when times get tough.

Whether it’s a group of friends, a church community, or an online forum like the Fully Funded Life Membership, having a network that cheers you on and celebrates your successes can be the boost you need to stay on track. They’ll remind you why you started and help you push through challenges.

2. Accountability

A strong financial community doesn’t just offer encouragement—it also holds you accountable. When you share your financial goals with others, you’re more likely to follow through because you don’t want to let them (or yourself) down. This sense of accountability can be incredibly powerful.

For instance, if you’ve committed to sticking to a budget or paying off a certain amount of debt, knowing that others are keeping track of your progress can help you stay disciplined. Tools like the Fully Funded Life Ladder can be used within your community to track progress together, making accountability both practical and supportive.

3. Shared Knowledge and Resources

No one has all the answers when it comes to personal finance, but within a community, you can tap into a wealth of knowledge and resources. By sharing experiences, tips, and advice, you can learn from others’ successes and mistakes, making your financial journey smoother and more informed. Whether it’s learning about new budgeting tools or discovering investment opportunities, being part of a community ensures you’re not navigating the financial landscape alone.

Together, you can achieve more than you ever could alone.

What To Do When You Are In A HUGE Financial Mess

I have met a ton of people who are experiencing the harshness of the following two key items:

• No Plan, No Savings, Piles of Debt

• Loss/Reduction of Income

Here is what you can do when faced with this situation.

Allow Yourself to Feel, Then Act

It's natural to feel overwhelmed and regretful when facing a significant financial challenge. Take a moment to acknowledge your emotions and give yourself permission to process them. It's okay to feel this way—it's the first step in moving forward.

Prioritize Your Payments

When finances are tight, prioritize who needs to be paid first. Essentials like housing, utilities, and food should take precedence over non-essential expenses. Create a list of creditors and bills, and decide which ones must be paid immediately and which can wait.

Set SMART Goals

To regain financial stability, set Specific, Measurable, Achievable, Relevant, and Time-bound (SMART) goals. Whether it's paying off debt, saving for emergencies, or increasing income, clear goals provide direction and motivation.

Create a Written Spending Plan

Even if your income and expenses don't balance perfectly right away, a written spending plan is crucial. This plan helps you understand your financial situation better and identifies areas where adjustments can be made. Knowing your "Go Get This!" number—the amount needed to cover essentials—empowers you to take control.

Take Action!

The most crucial step is to take action. Start implementing your plan immediately, whether it's cutting unnecessary expenses, seeking additional income sources, or negotiating with creditors. Small steps taken consistently can lead to significant improvements in your financial situation.

There can be a tendency to just focus on #1 and hope for everything to just work itself out.  Usually, this is not the case.  Recovering from this type of issue is emotional and gut-wrenching, but it requires one to take action.

You CAN recover from the mess.

Are You Teaching Your Kids About Budgeting?

Are you teaching your kids about budgeting? 

Money is a foreign concept to most children until they are about 4 or 5 years old. It is at around this age they become aware that money has the ability to purchase things. However, most of their financial knowledge is focused on spending because that is what they SEE happening with money.

• Mom gives money to the grocery store clerk and carries groceries out of the store.

• Dad swipes his credit card at the gas pump, and it allows him to put gasoline in the vehicle.

• Grandma gives money to her beautiful grandchildren (your children, of course) and you take the child down the toy aisle to buy something with it.

Since “spending” is what we see happening with money from our earliest days, it is what most children grow up knowing about money. For them, money equals spending.

The important financial principles of giving, saving, investing, and budgeting are not learned. Consequently, grown children leave the house knowing only that money equals spending. This is a recipe for financial disaster!

Here’s a simple thing you can do immediately to change that for your children (grandchildren):

Ask the child to prepare a budget for any money they receive – BEFORE they are allowed to spend any of it.

For example, when my wife and I started teaching our daughter about budgeting, we would give her birthday money. She and I count the money so we know exactly how much she has received, and then I confiscate it. Upon receipt of a well-planned budget, I release the money to her for use. Later on, I do a “check in” to ensure the money has been used according to the plan.

One time my daughter was planning the use of $20. Her first budget had $2 for giving, and $18 for spending. I rejected it because there was no saving or investing. Her revised plan showed $2 for giving, $0.25 for saving, and $17.75 for spending. She gave the budget to me with a smile – knowing there was little chance of it being accepted.

I rejected it.

Her third try included giving, saving, investing, and spending. I released the funds to her.

Here are the reasons I love this process:

1. Teachable Moments This process creates space for “teachable moments” about money. It forces a conversation about the importance of giving, saving, and investing. It allows us to talk about the “spender” mentality that we both share.

2. Learned At Home Before my daughter enters the real world, she is receiving real financial knowledge that will set her apart. She knows what a mutual fund is and how it operates.

3. The Pain of Wasting $20 is Less Than The Pain of Wasting $20,000 I want her to recognize the pain of poor financial decisions NOW when she is making $20 decisions so she doesn’t have to learn the lesson with a $20,000 purchase later.

4. My daughter actually enjoys the process It has helped her save a substantial amount of money toward her first car. She has financial margin. She knows her parents care about her.

I have my daughter use our FREE BUDGETING TOOLS.

My book, What Everyone Should Know About Money BEFORE They Enter The Real World, is a perfect resource for helping your child start out life with the financial tools and principles essential to life.

How To Plan A Vacation For The Saver & Spender In Your Marriage

Are you and your spouse gearing up for an exciting vacation? How many of you could say one of you is the spender, and the other is the saver? This can make vacation planning a little bit of a challenge, especially when it comes to accommodating both the spender and saver dynamics within your marriage. 

But…it can be done! Here’s how: 

1. Understand Each Other's Priorities:

Take some time to have an open and honest discussion with your partner about your vacation priorities. What does this vacation look like? Is it a luxurious getaway at a five-star resort or a budget-friendly Airbnb stay? Will there be multiple activities or relaxed beach time? Will you make meals or dine out?  Understanding each other's desires and motivations sets the foundation for a successful vacation planning process. 

2. Compromising on a Realistic Budget:

Now that you've laid out your priorities, it's time to look at your finances and crunch some numbers. Sit down together and hash out a realistic budget that accommodates both partners' financial comfort levels and vacation goals. This might involve some compromises, but remember, it's all about finding common ground and setting realistic expectations.

3. Balancing Splurges and Savings:

Keep an eye out for deals and discounts for your vacation. Consider searching for flight deals, signing up for hotel loyalty programs, or hunting down coupons for local attractions. Just think, saving on airfare or local excursions, may allow you to increase spending elsewhere in your budget: whether that’s a fancy dinner or souvenir shopping. 

With a little patience, compromise, and teamwork, you can plan a vacation that satisfies both the spender and saver in your relationship.

By laying out a realistic budget, understanding each other’s vacation priorities, and finding creative ways to balance splurges and savings, you'll set yourselves up for a successful and enjoyable vacation experience. Here’s to your next fully funded vacation!! 

3 Ways To Overcome Financial Anxiety

Are you constantly feeling stressed or anxious about your finances? You're not alone. Many of us grapple with financial anxiety at some point in our lives, but the good news is that there are steps you can take to become more confident in dealing with your personal finances. 

Start reducing your financial anxiety through these three steps: 

Step 1 - Outline A Clear Plan: 

One of the most effective ways to reduce financial anxiety is by having a clear plan in place for your money. Just as you plan for your life – setting your plans, hopes, and dreams – it's equally important to have a plan for your finances. 

Start by creating a realistic budgeting. Having a clear understanding of where your money is going can help reduce uncertainty. Remember, a budget isn't about restricting yourself; it's about empowering yourself to make informed financial decisions that align with your goals and values.

Do you have a plan?

Step 2 - Pursue Education:

Not knowing is intimidating. It can lead to a paralyzed feeling, especially when it comes to finances. Remember, none of us are born experts at anything – it's through learning and practice that we become proficient.  

Take advantage of resources such as online blogs, books, videos, and financial mentors to expand your knowledge and confidence in handling your finances. Whether it's understanding basic financial concepts, learning how to invest, or mastering the art of budgeting, education can be a huge help in overcoming financial anxiety. 

Step 3 - Financial Coaching & Counseling: 

Sometimes, financial anxiety can be deeply rooted in past experiences or emotional wounds related to money. 

A qualified financial coach or counselor can help you explore your money mindset, identify any limiting beliefs or money wounds, and develop healthy coping strategies to overcome financial anxiety. Remember, it's okay to ask for help and seek support when needed. Coaching and counseling can help you cope and overcome! 

Learning how to thrive in the midst of financial anxiety is possible! While you may not be able to eliminate anxiety entirely, taking proactive steps to address and manage it can significantly reduce its impact on your life. By creating a clear plan for your finances, educating yourself about personal finance, and seeking professional support when needed, you can build the confidence and resilience to navigate any financial challenges that come your way. Use these steps and continue to live your fully funded life!

The Way To Accomplish Your Plans, Hopes, and Dreams

Budgeting, investing, and saving play a critical role in making your plans, hopes, and dreams into reality. Let's explore how these financial elements intersect with goal setting to pave the way for a future filled with accomplishments.

• Budgeting is not just about numbers; it's a tool for aligning your financial resources with your dreams. By aligning your budgeting with your goals, you can prioritize spending, allocate resources efficiently, and ensure your financial plans mirror your financial dreams.

• Investing serves as a pathway toward accomplishing long-term goals. It involves identifying investment avenues that align with specific goals! Through strategic investment, you pave the way toward accomplishing larger financial aspirations.

• Savings act as the foundation for achieving both short-term and long-term goals. Establishing emergency funds and setting aside money for immediate needs aligns with short-term aspirations. Simultaneously, implementing long-term saving strategies propels progress toward larger financial milestones.

The magic really happens when budgeting, investing, and saving align seamlessly with your specific goals.

Tracking progress and maintaining financial discipline are instrumental in achieving financial goals. Consistent effort, adaptation, and a long-term vision can help you stay on track as you live your fully funded life!

Remember, your dreams are within reach. Your budgeting, saving, and investing habits should align with your goals!

Join us at Fully Funded Life in harnessing the power of budgeting, investing, and saving to accomplish your plans, hopes, and dreams.

Managing Money During Challenging Financial Times

In the journey towards a fully funded life, we often encounter challenging financial times that test our resilience: volatile markets, high-interest rates, inflation, high housing costs, economic instability, recession, and so on….

Yet, even in the face of adversity, there is hope, and with thoughtful planning, your dreams can still be accomplished. Here’s how!

Assess Your Financial Situation

• Create a Detailed Financial Snapshot: Taking stock of your current financial situation allows you to understand where you are and where you want to be. List your assets, debts, income, and expenses.

• Identify Areas Needing Attention: Pinpoint the areas that need immediate attention. Are there debts to be managed? Expenses to be trimmed? Knowing your challenges is the first step in overcoming them.

Budget and Prioritize

• Create a Realistic Budget: Creating a budget that adapts to changing circumstances ensures your goals remain within reach. Assign every dollar a purpose within your budget, aligning your financial decisions with your plan's, hopes, and dreams

• Prioritize Essential Expenses: In challenging times, prioritize your essentials, such as housing, utilities, and groceries. While cutting non-essential costs, ensure you safeguard what truly matters to you during challenging financial times.

Build Financial Resilience

• Establish and Maintain an Emergency Fund: An emergency fund is your safety net, ready to catch you in difficult times. Ensuring you stay on course even when challenges arise.

• Explore Additional Income Sources: Side hustles, freelance work, and diversified income streams can provide additional financial stability during uncertain times.

• Seek Financial Advice and Support: Seeking advice and support when needed is a sign of strength. Financial professionals and community resources can provide guidance and assistance to keep your dreams alive, even in challenging times.

Navigating challenging financial times takes discipline, but it doesn't have to derail your plans, hopes, and dreams. By assessing your situation, budgeting wisely, and building financial resilience, you can continue on your path toward building the fully funded life you've envisioned!

5 Steps To Get Financially Organized

Organization! Some of you may hear the word organize and your heart flutters with excitement, while others are probably filled with dread just by the sound of the word.  Wherever you are on the spectrum, you can and NEED to get your finances organized.

STEP 1:  Understand Why You Are Doing This In The First Place

Here are some reasons to get organized financially:

• Control: It is hard for the finances to run out of control when you are focusing this intently on your financial affairs.

• Improved financial focus:   We tend to improve that which we focus our attention on.

• We WILL die someday:   Our family will appreciate a clearly organized set of financial affairs.

step 2: Prepare A List Of All Of Your Financial Accounts

• It is important to gather together your financial statements so you can easily prepare a one or two page document that details your entire financial picture.

step 3: Information To Include On Your Financial Accounts Form

• This form is meant to be the be-all to end-all location for your entire financial picture.   When you are looking for key financial information, you won’t have to go far because it is all contained within this file.   When you pass away, it allows your estate executor to easily understand what they are dealing with.

• Here are the key items to include:

  • Investment Accounts

  • Bank Accounts

  • Real Estate

  • Will

  • Power of Attorney

  • Insurance Policies

  • Jewelry or other valuables

  • Safe Deposit Box

Step 4: Make Sure You Are Budgeting

• Having your accounts listed out and your financial affairs in order is so important.  What good does that do you though if you aren’t organized with the money that you spend? Budgeting is part of being organized with the money that comes in and what goes out of your account each month.  Taking control of this sets you up for financial success.

STEP 5: Where To Find Free Or Cheap Resources

• Check your local hospital for free healthcare power of attorney forms.

  • Check your local hospital system’s website to see if they have the same available. They may also offer advanced directives. An advanced directives form takes the pressure off of your loved ones to make care decisions for you if you aren’t able to communicate your desires yourself.

  • Some county library websites will also offer free legal forms, including those that are state-specific.

As you organize your accounts and records not only will it help your loved ones in the long run, but it will become easier for you to understand your current financial position.  This will help you as you make monthly decisions in your budget and set you up for success with your finances.

This may be a time consuming task your first go round, but after you have this set up it will be easy to update and maintain it going forward.

Do You Have A Vision For Your Money?

Do you have a vision for you money? Without one, you might find yourself spending aimlessly, uncertain of how to accomplish your goals, or wondering where you money ends up going each month. Cultivating a strong financial vision that will guide your money towards the life you desire.

Define Your Financial Goals:

Start by identifying your financial aspirations. What are you striving to achieve in the next month, the next year, next 3 years? Whether it's paying off debt, saving for a home, building an emergency fund, or investing for the future, write down your specific financial objectives. These goals will serve as the foundation of your financial vision.

Visualize Your Ideal Life:

Imagine your life as you want it to be in 2024 and beyond. What does your Fully Funded Life look like? Visualize the aspects of your life that financial stability can enhance – from family vacations and a comfortable home to peace of mind and a secure retirement. This visualization can serve as a powerful motivator.

Prioritize Your Spending:

In a world filled with constant financial demands, it's essential to prioritize your spending based on your goals. Create categories for your expenses, ranking them by importance. Allocate your money accordingly, ensuring that the most significant portion goes toward achieving your primary objectives.

Track Your Progress:

Regularly monitor your financial progress to ensure you're on the right path. Use tools like budgeting apps and spreadsheets to track income, expenses, and savings. This real-time feedback can help you make necessary adjustments and stay committed to your vision.

Celebrate Milestones:

Recognize and celebrate your financial achievements along the way. Whether it's paying off a credit card, reaching a savings milestone, or sticking to your budget for several months, acknowledge your progress as a motivator to keep moving forward.

Your financial vision should be the guiding light that leads you toward your Fully Funded Life. It's not just about money; it's about turning your financial resources into a means of achieving your dreams and securing your future. Embrace this vision, and you'll find that your money can become a powerful tool for building the life you've always wanted.

3 Things Sabotaging Your Retirement

Retirement is a time in life that many of us eagerly look forward to. It's a period when we hope to enjoy the fruits of our labor, travel, spend time with loved ones, and pursue hobbies and interests. However, achieving a comfortable retirement requires careful planning and financial discipline.

Let’s discuss three common mistakes that can sabotage your retirement if you’re not careful!

You Haven't Started Saving

Time can be your most valuable asset in building a substantial retirement fund. The power of compounding allows your investments to grow exponentially over time. When you delay saving for retirement, you miss out on the potential for your money to grow.

Start saving for retirement as soon as possible, even if you can only contribute a small amount initially. Set up automatic contributions to retirement accounts like a 401(k) or an IRA, and increase your contributions as your income grows.

You Haven't Determined Your Retirement Nest-Egg Amount

Having a clear retirement savings goal is crucial for a successful retirement plan. Without a specific target in mind, you may not know how much you need to save or whether you're on track to meet your retirement goals. Determine your retirement nest egg amount HERE! Once you have a target amount, you can create a savings plan to work towards that goal.

You Have Pulled Money Out of Retirement Accounts Early

Early withdrawals from retirement accounts, such as a 401(k) or an IRA, can result in penalties, taxes, and lost potential growth. These accounts are designed to provide financial security during retirement, and withdrawing funds prematurely can significantly derail your retirement savings plan.

Planning for retirement is a lifelong journey that requires commitment and financial discipline. Avoiding common mistakes will help you achieve your retirement plans, hopes, and dreams!

How Do I Create Good Financial Habits

Our financial habits are the guiding point for our financial journey. Just like a ship needs a sturdy compass to navigate through rough waters, good financial habits provide you with direction, control, and a sense of purpose. Good habits allow you to make informed decisions, adapt to changing circumstances, and achieve your dreams. 

Start with these steps and begin creating good financial habits:

Learn & Educate: 

Knowledge is a powerful tool for financial growth. Invest time in reading financial literature and resources that enhance your understanding of budgeting, saving, investing, and other areas of personal finance.

Define Your Goals:

Set specific, and timely financial goals. These give your financial habits a purpose and a roadmap to follow. Identify short-term and long-term aspirations, such as creating an emergency fund, paying off credit card debt, or saving for a dream vacation. Linking your habits to these goals will keep you motivated and on track!

Create A Budget: 

Build your realistic budget. Track your income and expenses diligently to understand where your money is going. Keep track of every dollar! Allocate funds for essentials, savings, and discretionary spending. Stay disciplined by sticking to your budget and making adjustments when necessary.

If you need help building out your budget, use these resources: 

Automate Where You Can: 

Take advantage of automation - it can be a built-in habit! Struggling to save each month? Set up automatic transfers to your savings accounts, ensuring that a portion of your income goes directly towards your financial goals. 

Creating good financial habits requires dedication and patience. You have to decide to decide - and start today! By practicing these habits consistently, you can shape your financial future and work towards achieving your goals. Your future self will thank you for the positive changes you make today.

How Do I Start Saving?

Are you tired of the never-ending struggle to save money? Do you find yourself caught in a cycle of starting to save, losing track, and then starting over again?

It's time to take a step back and evaluate your foundation. Is it the RIGHT foundation to help you achieve your financial plans, hopes, and dreams?

• Have you set your financial goals? (What are you working towards…)

• Do you have an emergency fund built for when life happens? (Are you protecting yourself with the right insurance: health, home, car, disability, etc)

• Prepare for known, upcoming expenses. (Like birthdays, insurance premiums, property taxes, etc. These should not bust your budget!)

After reviewing your foundation, start prioritizing your savings. Treat saving money with the same level of importance as paying bills. Consider it a debt owed to yourself. Recognize that saving money is a choice and prioritize it over non-essential expenses.

A few tips:

• Separate Your Savings: To prevent accidental spending, move your savings to a separate bank account. This separation creates a mental barrier and makes it less tempting to dip into your savings for impulsive purchases.

• Use Cash Envelopes for Specific Expenses: For impulsive cash areas like groceries, dining out, entertainment, and clothing, use cash envelopes. Allocate a fixed amount for each category and stick to it!

• Reevaluate Subscriptions and Daily Habits: Identify and cut out unnecessary membership subscriptions or daily habits that drain your finances. Do you need every single streaming platform? Probably not.

• Seek Better Insurance Deals: Consider changing insurance providers for home and auto to potentially find better deals.

Remember, it's never too late to start saving – the key is to take that first step and stay consistent on your financial journey!

What Is Your Why

Do you have a vision for your money? Have you identified your WHY?

When you receive those precious Washingtons, Lincolns, Hamiltons, Jacksons, and Franklins, do you have a clear idea for the utilization of each one of them? Or is that money dead on arrival – doomed to be sent on its way without advancing you toward your life’s plans, hopes, and dreams – your Fully Funded Life?

Without a clear vision, it is highly likely that the money will disappear with little to no progress. After all, there are so many things competing for your dollars:

• Housing

• Utilities

• Kids

• Food

• Student Loans

• Automobiles

• Insurance

• Gasoline

And everything in between! When we experience financial setbacks, which will occur often, it can be easy to just give in and give up saying soothing statements like:

• “We just can’t ever seem to get ahead financially.”

• “We’ll never win with money.”

• “I need to win the lottery.”

I encourage you to write down your vision for the money you’ll be receiving between now and the rest of the year. You’ve still got five months to experience a massive shift toward your preferred financial future! Get started today!