Growth and Money Management...

First Steps in Money (or Income) Management

The most basic, important first steps in personal money management can be summed up by the anacronym <GROW>. Sounds like a very fitting description on how to achieve GROWth in your financial life don't you think?

Well let's look at what the letters stand for:

G --> Goals. Set Goals: Identify your (financial) goals in life.
R --> Reality or Reality Check: What is your current (financial) situation? What is your current (financial) reality?
O --> Options: What are your Options that will lead you to your Financial Goal?
W --> What next? Where next? Who next? :  Among the Options considered and evaluated in the "O" step, what is your next course of action?

Hope this brief entry will motivate you to seek further information and education to equip you in your journey to Financial Independence. I will be sharing more details in my next posts. Thank you.