From Broke to Brilliant: A Guide to Fixing Your Finances in 12 Months

From Broke to Brilliant: A Guide to Fixing Your Finances in 12 Months

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Fixing your money problems in just 12 months is within reach with determination and a plan.

The initial move is a spending freeze. Cut non-essential expenses and spend only on necessities, such as groceries, rent or mortgage, and transportation. This helps you rethink spending and releases funds to pay off loans and build savings. Use this progress to design a zero-based budget, giving every dollar a job.

Next, look for additional revenue. Pick up side jobs, sell unused items, or pursue training to get a better-paying position. Every extra dollar earned finance sources should be used for your priorities, like saving for emergencies or eliminating liabilities. Speaking of debt, use the debt repayment strategies—paying off the smallest balances first or addressing the costliest loans, depending on your preference.

Celebrate every milestone along the way to keep your momentum. Whether it’s paying off a loan or hitting your initial savings goal, each milestone demonstrates that you’re on the path to financial success. With consistency and careful planning, a money turnaround in a year isn’t just a dream; it’s your achievable success.