• Skip to primary navigation
  • Skip to main content
  • Skip to primary sidebar
  • Skip to footer

Live Like You Are Rich

on any income...

  • Finances
    • Save Money
    • Make Money
    • The Credit Game
    • Couponing
    • Tips & Warnings
    • Financial Fitness Bootcamp Course
  • LOVE with Family
    • Love
    • Pregnancy & Postpartum
    • Parenting
    • Faith
    • The Random & Important 
  • Home Improvements
    • Preparedness
    • Organization & Cleaning
    • Efficiency
    • Interior Design
    • Home Updates
    • Home One
    • Home Two
    • Home Three
  • DIY & Crafts
    • DIY’s & Crafts
    • Holidays
    • Valentines
    • Easter
    • 4th of July
    • Halloween
    • Thanksgiving
    • Christmas
  • Our Favorite Recipes
    • Quick and Easy Family Favorites
    • Breakfast
    • Lunch
    • Starters, Soups & Salads
    • Dinner
    • Desserts
    • Smoothies & Drinks
  • Hosting
  • My Book

Step 7 of The Financial Fitness Bootcamp Course

August 7, 2019 By: Anita

Share to Your Social Media

  • Share
  • Tweet
  • Pin

Years ago, I took the time to look over all of my statements for the previous three months.

I went over all of our financial transactions to see three things:

  1. How much we were spending over or under our income,
  2. If and where we were wasting our hard-earned money (see what we could cut out and how we could save) and,
  3. What we were spending on (to determine how best to set up a budget).

This next challenge is a three-day/three-part challenge. Proceed only if you are ready for some serious financial shaping up. It may hurt, but the results will be worth it!

Challenge #7– Get all of your financial statements you have for the last 3 months. Tally up your income for each month. Next, add up all of your purchases, payments, cash spent, etc. for each month and subtract them from the income of that month. What is the total? How much did you overspend (debt), come out ahead, or come out even for each month?

When I did this, the results were painful. Despite having a savings plan that we put money into each month, we had overspent our income (by using credit cards). This was when we both had full-time jobs, no mortgage, and no children. When I think back on it, I wonder what in the world we were spending our money on!

We decided then and there that we weren’t going to keep digging a hole of debt for ourselves. And within eight months we were able to pay off the credit card debt, our vehicle, and begin saving for our home.

The very realization of the exact number of debt we were racking up on a monthly basis facilitated change. That’s why these numbers are so powerful.

A well-known financial advisor told me that the majority of people he worked with who had debt, overspent their income on an average of $800.00 a month! That’s almost $10,000 of debt they were going into each and every year!

It’s important to know exactly where you are. Just like stepping on a scale, taking your measurements, and seeing how laborious aerobic activity is for you are good indicators of your current fitness level, looking at your spending and where you are at financially is vital for financial fitness.

Challenge #7 is the foundation for Challenges #8 and #9. These challenges are some of the most important in the boot camp. Please don’t guess. Take the time to look at the real numbers. And make sure not to skip these next three challenges!

Other Posts:

Step 1 of the Financial Fitness Bootcamp Course

Step 2 of the Financial Fitness Bootcamp Course

Step 3 of the Financial Fitness Bootcamp Course

Step 4 of the Financial Fitness Bootcamp Course

Step 5 of the Financial Fitness Bootcamp Course

Step 6 of the Financial Fitness Bootcamp Course

For other ‘rich living tips’ please subscribe, like me on Facebook, and follow me on Pinterest and Instagram.

Step 7 of the Financial Fitness Bootcamp Course.

Related posts:

Your 7 Step Plan to Avoid DebtHow to Avoid Debt Get Out of DebtHow to Get Out of Debt Steps to Financial Confidence
Previous Post: « Step 6 of The Financial Fitness Bootcamp Course
Next Post: Step 8 of The Financial Fitness Bootcamp Course »

Reader Interactions

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Primary Sidebar

Anita Fowler
Pinterest Facebook Twitter Youtube Gmail Gmail RSS

Most Popular





Footer

anita_livelikeyouarerich

How to live a rich life on any income. Stay-at-Home Mom to 4. 👦🏻👩🏻👧🏼👶🏻Wife 👩‍❤️‍👨Author 📖. Blogger 💻. Christian 🌟. #livelikeyouarerich #LivingRichTips

Family & Finances & Food-Anita
Fourth of July crafts for kids aren’t just easy, Fourth of July crafts for kids aren’t just easy, but fun! If you’re looking for some great ideas, don’t worry. You’ve come to the right place because we’ve got lots of them. I’ve rounded up these 27 easy and inexpensive Fourth of July crafts your kids will love. 💫

Save this post for later! Link in bio.

https://livelikeyouarerich.com/27-easy-and-inexpensive-fourth-of-july-crafts-for-kids/

#4thofjulycrafts #patrioticcrafts #papercrafts #4thofjulycraft #kids4thofjuly #fourthofjuly #fourthofjulycraft #freefamilyfun #fourthofjulyfireworks #paperplatecrafts #popsiclestickcrafts
My sister-in-law made this darling camping outdoor My sister-in-law made this darling camping outdoor birthday party for her son’s first birthday. I love the cute details, the burlap and plaid banner, lumber jack food labels, and the food that she served to match the theme.

Share this with someone who might need this!

Details in the link in bio.

https://livelikeyouarerich.com/darling-camping-birthday-party-food-ideas/ 

#campingparty #birthdayparty #birthdaypartyideas #partytime #partyfood #partyfoodideas #partyfoods #partykids #partycake
How to create a birthday party table setting inspi How to create a birthday party table setting inspired by Beatrix Potter's character, Peter Rabbit. When I host parties I love to decorate different tables for adult guests and kids. Growing up, I would often go to extended family parties. 

There were usually always tables designated for the kids and for the adults.

Share this with someone who might need this!

Details in the link in bio.

https://livelikeyouarerich.com/peter-rabbit-adults-tablescape/

#partytablescape #birthdaytablescape #peterrabbittheme #beatrixpotterbooks #firstbirthdayideas #birthdaytablescape #peterrabbitdecor
Be inspired to create these fun, whimsical terrari Be inspired to create these fun, whimsical terrariums with 🌿 🌱 🌴 🌵

Using sand, rocks and faux moss and faux floral sprigs, flowers, etc. you can make an interesting faux floral arrangement for a glass geometric terrarium.

Click the link in the bio for the tutorial.

https://livelikeyouarerich.com/decorative-faux-flower-terrariums/

#fauxflowers #fauxflowersofinstagram #terrarium #terrariums #terrariumplants #terrariumdecor #terrariumdesign #terrariumlove #artificialflowerdecor #flowerarrangement
How to create a birthday party table setting inspi How to create a birthday party table setting inspired by Beatrix Potter's character, Peter Rabbit. 🎉💫

When I host parties I love to decorate different tables for adult guests and kids. Growing up, I would often go to extended family parties. 

There were usually always tables designated for the kids and for the adults.

Share this with someone who might need this!

Details in the link in bio.

https://livelikeyouarerich.com/peter-rabbit-adults-tablescape/

#partytablescape #birthdaytablescape #peterrabbittheme #beatrixpotterbooks #firstbirthdayideas #birthdaytablescape #peterrabbitdecor
Peter Rabbit Kids’ Tablescape is the perfect fun Peter Rabbit Kids’ Tablescape is the perfect fun tablescape for our son first birthday party. I like to decorate the tables we eat at as well as the buffet/food table. Get ideas for Peter rabbit decorations, foods, favors, and more.

SAVE it so you can revisit the post. Link in bio.

https://livelikeyouarerich.com/peter-rabbit-kids-tablescape/ 

#kidstablescape #firstbirthday #kidsparty #partykids #tablescape #tablesetting #kidspartyideas #peterrabbittable
Load More... Follow on Instagram

Links

  • About Me
  • Contact Me
  • Privacy Policy
  • Advertising/Media/Marketing Opportunities on LiveLikeYouAreRich.com

Disclosure Policy

Affiliate links may be used in this post. Printing a coupon or ordering a product through this link may result in a commission, which helps pay for the cost of running this site and keeps the content free. Read my full disclosure policy here.

Copyright © 2022