Step 1 to Financial Freedom

Mar’s Musing on Tracking your Finances

Today in Mar’s Musings I am highlighting the importance of tracking your finances.

Time and time again, I see that women especially have so many fears, anxiety and other contracted emotions around money due to the lack of clarity.

I keep expressing the significance of tracking our personal and professional finances to get clarity and then to be able to project.

With your personal finances, it’s super important to know your monthly income and expenses – what your financial flows are and how they are moving month by month in your life.
P.s. the first step in doing this is to open your bank accounts and get clear about what’s in them!

Tracking what flows in each month and your outflows… As we are approaching the year’s end, it’s great to get this clarity to plan for 2023, so I suggest tracking your finances looking back at the whole year of 2022.

Having 1 year tracked is important as each month differs, comparing January to August can seem off as some months you might have winter expenses, whilst in the summer there might be a holiday planned.

Then, as a second step, get really clear about your project/business finances. This will allow you to see what activities are making money and what others might not be, so you can adjust your time spent on each and where to invest more accordingly.

I hope this inspires you to start tracking and getting aligned for 2023!

A little motivation to open your bank account and take a look in there this week You might see that it’s easier than you think!

Love Mar Michelle