The Importance of Making Your Daily Financial Plan
Once you’ve established your short-term and long-term money goals, the next step is to create your supporting daily financial plan. If you’re wondering what this is and how to do it we’ve got you covered. For help specifically with paying off credit card debt, get the free 7-Step Credit Card Debt Slasher.
How to create your daily financial plan
As the Tanzanian proverb goes, ‘Little by little, a little becomes a lot.’ In other words, the choices you make today impact whether you’ll reach your long-term money goals. So, how do you build the daily habits necessary to fulfill those seemingly elusive, far-off plans like retiring at 65?
On this episode of Queer Money, we discuss the five steps to creating a daily financial plan that supports your short- and long-term money goals, explaining why people who live on cash spend less than the rest of us.
We describe how to use the idea of money chunking to set a daily budget and share our favorite apps for budgeting, investing and monitoring your credit score. Listen in for insight on having fun with your financial plan and find out which LGBTQ influencers to follow to learn a little something every day about money!
Listen to the 5 simple steps to make your daily financial plan:
- 5 steps to creating a daily financial plan that supports your short- and long-term money goals
- How daily habits like dining out, buying coffee or spending a night out at the bar add up over time
- How to set a daily budget around the idea of money chunking
- Why people who live on cash spend 12% to 18% less than people who use debit or credit cards
- The apps we recommend for budgeting, investing and monitoring your credit score
- Why it’s important to do a little something every day to learn more about money (and share that information with friends and family)
- Our favorite LGBTQ influencers and resources in the finance space
- Why it’s crucial to have fun and enjoy life while you work toward your long-term money goals
Resources from this episode:
- 7-Step Credit Card Debt Slasher Tool
- Debt Free Guys Website
- Queer Money Podcast
- Debt Free Guys on YouTube
- 5 Steps to Make a Short-Term Financial Plan on Queer Money EP292
- 5 Steps to Make a Long-Term Financial Plan on Queer Money EP291
- The Latte Factor: Why You Don’t Have to Be Rich to Live Rich by David Bach and John David Mann
- Credit Card Debt Slasher Toolbox
- Cash Is King on Queer Money EP034
- Debt Free Guys on Facebook
- Debt Free Guys on Twitter
- Queer Money Facebook Group
- Queer Money on Instagram
- Subscribe on iTunes
- Email [email protected]
Previous 3 Podcast Episodes
- 5 Simple Steps to Make a Short-Term Financial Plan
- 5 Simple Steps to Make a Long-Term Financial Plan
- 3 Things to Know about Stocks to Grow Wealth
We’re David and John Auten-Schneider, the Debt Free Guys (www.debtfreeguys.com) and hosts of the Queer Money® podcast. We help queer people (and allies) live fabulously not fabulously broke by helping them 1) pay off credit card debt, 2) become part- or full-time entrepreneurs and 3) save and invest for retirement.