Most people don’t have someone in their life who teaches them how to manage finances wisely… and most people usually do have plenty of people who model handling money poorly.
That may be why one of the main reasons so many new freelance writers fail in their first three to five years of being in business is poor financial management.
If handling your finances effectively isn’t your strong suit, then you can start to change direction right now by learning a little more about making money… and managing it.
So today, I’m going to share a four-step wealth creation system that will help you take control and enhance your financial picture as a freelance writer.
But before you can implement change, you need to learn to watch, track, and assess where you are now…
Conducting a Weekly Financial Analysis
“If you don’t pay attention to your personal finances, someone else will.” — Grant Cardone
The first step in taking control of your personal finances is to understand that money demands attention. A good start is to set up a time each week to look over and analyze your finances — both business and personal. I know this doesn’t sound very exciting… and it’s true. It can be tedious. But boring or not, it’s something you need to do if you want to get your finances in order.
Now, there is no need to make this an exhaustive ordeal. Just a take a few minutes to look at where you’re at. Think about the things you’d like to have. And review where you’re spending your money, how much you’re saving, and how you want that to change.
It All Starts with Income
The truth is, without income, your chances of improving your financial situation will always be slim to none. If you’re just starting to get your personal finances in order, saving and investing is not what you need to be focused on at first.
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