EP013 Start the New Year Financially Fit

Young Money with Tracey Bissett

2018 will soon be upon us and as we look to the new year, it’s a great time for us to reflect on 2017 and our hopes for 2018. We need to be aware of how and why we spent our money the way we did this year.

"As we move forward on our collective financial fitness journey it is important to remember to take action! Even small changes can have a big impact – you don't need to tackle everything at once." - Tracey Bissett

On today’s episode we are going to examine 2017 and 2018 in relation to the Bissett Financial Framework. I’ll revisit the three elements of the Framework which include 1) Cash Flow, 2) Savings and 2) Debt Management. I’ll also share how you can automate your savings and how to minimize debt so you can be financially fit in 2018.

“Make 2018 the year to get your will and powers of attorney in order – have the right people speak for you when you can't.” - Tracey Bissett

This Week on Young Money:

• What cash flow provides for your financial fitness, and how to assess it
• How savings fortifies your lifestyle including having an emergency fund
• How important debt management is
• Ways you can budget, increase income with a side hustle and minimize expenses
• Safeguarding your finances for the future and why a will and power of attorneys are important

• Why you should update your credit report annually
• Ryan Seacrest - Perfect example of working in a gig economy with side hustles

• Eleanor Beaton , Women's Leadership Coach

Key Takeaways:

• Take care of your cash flow
• Save, Save, Save
• Manage your debt, don't let it manage you

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