Four Steps To Greater Prosperity-Your Financial Plan

How to manage your money

Everyone wants more bang for their buck, right? Well, did you know that if you are navigating the waters of finance without a plan, you are a captain of a ship lost at sea? Yes, you are the captain of your finances. You choose to put your money down on whatever square you want in this game of life. How do you choose to spend your money? Are you in control of it or is it in control of you?

It’s the New Year, a time to re-evaluate your finances for your greater prosperity. By setting up a financial plan you will have twelve months to test it, tweak it, and take control of your money.

The following steps will assist you in evaluating what position you are currently in, financially, to allow you to lay out the best course of action.

1. Know your relationship and feelings toward owning and operating your money.

2. Organize your life to invest in a set time and place to review your finances weekly.

3. Gather all of your financial facts to allow for clear, well informed financial decisions.

4. Learn how to manage your money through educational material or professionals.

Don't miss your golden opportunity

Prepare for your nest egg by becoming financially stable now.
Prepare for your nest egg by becoming financially stable now. | Source

Suze Orman's suggestions for financial freedom

In the book, Women and Money , financial guru Suze Orman suggests that we must first explore and understand our relationship with money. Whether we want to believe it or not, we all have a relationship with money, be it good, bad or indifferent. Like any relationship, the more we know and understand our partner, the happier the outcome.

There are two general observations about people and money: first, the greater percentages of people in the world do not understand finances, and second, they experience mixed feelings about owning money. Those two pieces of the relationship equation can be placed in the category of ‘blocking’.

Clandestine and unconscious negativity, such as these two factors, will stop the flow of money into your life. It is right action to take inventory of what you do to sabotage your greater good, when it comes to your financial well being, no matter how emotionally painful it may be. Without shedding light into the dark crevices of why you deny yourself financial freedom, or why you continue to repeat patterns that destroy your financial health, you will continue to operate from a place of mystery…and only you hold the key to solve it.

Money is energy. Yes, it has tangible qualities; however, those qualities are only manifestations of how you have chosen to allocate your money energy. It is not the ‘things’ that we can buy with our money that is the issue, because that is always changing. It is our ideas of what money can do for us: buy happiness, health, or freedom. That is what makes it become important.

Financial security through organization

Organization is one of the main keys to managing your finances effectively. Take a quick look around your home. Your ability to focus will be a direct result in your ability to put your fingers on your checkbook, your financial statements, etc, quickly. Do you have an office? What shape is it in? Is it cluttered or clean? Is your desk area or chair filled with objects you have to remove to sit down? What time of the day are you preparing to reconcile your finances, check for upcoming events, evaluate if any emergencies have gouged your savings? Is this a time when you are trying to prepare for dinner, or the kids are expected home from school? Or is it late at night after a full day of work? How you feel will affect your level of concentration.


Do you have good money management?

Do you feel you have good money management?

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You and your money

As you prepare for the tax season you will need to gather several things, no matter if you do your own taxes or have someone else do them for you. Being aware of your finances in order to chart the direction of the New Year, you will need things as well. Primarily, the information will be found in bank statements, current and outstanding bills, paycheck stubs, and receipts of purchases. You should also know your retirement plan, your insurance policies, etc.

If you have not kept any receipts and do not have a clue to your spending pattern, i.e. where the money leaks are, then it is advisable to track it for one month by writing down every purchase you make big and small. If it is a ‘typical’ month it should give you a basic idea of what you use. Now, add in the times, to your recollection that you bought gifts, or look at credit card statements. Additionally, include your expenditures for gas, food and travel. By reviewing basic categories of ‘life’ you should be able to reconstruct your spending.

By comparing your income, (paychecks, child support or alimony checks, monthly dividends, bonuses, etc) and your output, (all of your bills, child support, alimony payments, etc) you will be able to see in black and white the financial position you are in at the beginning of the year. If there is a deficit, now is the time to repair the leaks before the year rolls on. This way you are able to reassess and adjust as needed. Remember: your financial well being is the goal.


Fiscal Wellness: Knowledge is Empowering

Knowing what our state of financial health is at all times is no different, and no less important, than knowing what our physical or mental health is at all times. Without fiscal wellness we are holding ourselves back and maneuvering through the world handicapped. Knowledge is empowering. There is a plethora of information available today via books; DVD’s; classes, both online and through community education; and meeting with a financial advisor, which will enhance your ability to understand the world of finance.

The more we know the more we grow, so check in with yourself and ask if you are feeling intimidated or confused about handling your own money competently, and then seek the clarity that will assist in moving through those feelings.

Remember, with every problem there exists more than one solution. It is your responsibility, as captain of your financial ship, to open your mind and inventory what you know and don’t know; then be proactive in your learning process.

Empowering yourself with knowledge will result in confidence and clarity.

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Comments 19 comments

Danette Watt 5 years ago

Denise, You make some very good points here. I wonder how much fear plays into our finances? Fear of poverty so we let money control us. Fear of taking a hard look at our finances because we are afraid of what we'll see (how much in debt we are, how poorly we've managed the money, etc).

Looking forward to more of your financial hubs


Denise Handlon profile image

Denise Handlon 5 years ago from North Carolina Author

Hi Danette-thanks for your comments. I always look forward to reading what you have to say. I'm up to #13 out of 30 for the 30:30 hubchallenge. I needed to put a few out b/c I've got my 36 hrs of work starting tomorrow.


b. Malin profile image

b. Malin 5 years ago

Great steps to Financial Freedom...laid out so simply and well written...In our hectic world, it's so hard for people to plan for their futures...so much uncertainty. Thanks for sharing.


Simone Smith profile image

Simone Smith 5 years ago from San Francisco

Excellent advice! I'm so excited to create a new financial plan now. Thanks so much for writing the Hub!


Denise Handlon profile image

Denise Handlon 5 years ago from North Carolina Author

B-you are so right. We do live in uncertain times...yet, that has nothing to do with taking the basic steps to stabilize one's own financial future.

Simone-what a pleasure to have you visit my hub, thanks. I'm happy you can use this info. :)


Darlene Sabella profile image

Darlene Sabella 5 years ago from Hello, my name is Toast and Jam, I live in the forest with my dog named Sam ...

Exellent hub, well written and rearched. I also love Suzi orman, and I do believe in the relationship we hav with money. I cannot keep a penny in my pocket. I avoid stores, I want everything I see and always have. My dad was so cheap, I have cheap people, and we were never allowed to learn to talk about money in any way...So I think we need to start this relationship for our chidren, whatever they make half of it should be placed in their savings account they should go into the back, stand in line and wait for their turn with the bank teller. Fab hub, love it rate up love & peace darski


richtwf profile image

richtwf 5 years ago

Excellent hub Denise with lots of sound advice.

It is a shame that many people these days aren't able to manage their finances properly; that's a fault of the education system in my opinion as we're not taught these essential life skills whilst still at school.

If we have parents who are financially savvy then we're fine, but if we don't then we suffer. I am a strong advocate for more financial/money intelligence to be taught in schools because what's the point otherwise of earning money and not being able to manage it properly? It's like turning a tap on and not making sure the plug is the bath is plugged in firmly - mismanaging what we've got.

Thanks for sharing these thoughts and God bless.


Happyboomernurse profile image

Happyboomernurse 5 years ago from South Carolina

Great hub, Denise,

I particularly like what you said about knowing your relationship with money. We have to understand what money means to us on an emotional level before we can deal with it on a practical level.

Thanks for sharing this sound advice.

Looks like you're well on your way to completing 30 hubs for this month!


Denise Handlon profile image

Denise Handlon 5 years ago from North Carolina Author

Darski-it is a benefit, in my opinion, to teach our children how to manage money early in life. Thanks for voting it up.

Rich-I always look forward to your comments. I know you and I have discussed this need in our school system before. I agree...it is so important to have early learning re: money management. It would be beneficial to have classes in finance at some level in school...the earlier the better. My oldest daughter belonged to an organization that taught business transactions while she was in jr high school.

Gail-thanks for reading the hub and your encouragement. Hoping to 'get ahead' this w/e because it is impossible to do during my work schedule.


Princessa profile image

Princessa 5 years ago from France

You make it sound so easy! I think I should really start with your first point and explore my relationship with money, that might help me get organized.


Denise Handlon profile image

Denise Handlon 5 years ago from North Carolina Author

Hi Pricessa-wow, it's so nice to see you here. I'm glad you found this hub helpful. My experience is unless we understand why we do what we do (spending patterns, money beliefs) we are apt to repeat the same thing every month. It is also imperitive to understand what our goals for money are in order to see what the obstacles are that block us from achieving these. If, along the way, money is seeping out somewhere that we are unaware of, that raises our consciousness to be more aware of our relationship with our money. Our discoveries are more spiral than circular because as we explore we deepen our awareness of our particular patterns. Good luck and have fun finding out what makes you tick when it comes to money.


Ign Andy profile image

Ign Andy 5 years ago from Green Home Office

Great tips, I used to follow similar rule related to money/salary. But now it's little bit out of control. I need to be more tight on my spending and save more for investment.


Denise Handlon profile image

Denise Handlon 5 years ago from North Carolina Author

Hi Andy-thanks for visiting the site and commenting.


Max Havlick profile image

Max Havlick 5 years ago from Villa Park, Illinois

Though you, Denise, generously "followed" me based on a few short poems, I thght it wise to restrain happiness over you until I could visit some of your hubs to see what you're all about. This hub on financial planning shows a genuine desire to help people toward greater prosperity, so I'm glad here to say I find you hooked on giving people good, useful, down to earth practical advice. This makes me very proud of you, Denise, and comfortable in your presence.

After one week, I have a total of five followers, which I take seriously as one joining hubpages in search of mutual, interactive communication, so I want to respond and contribute back to each one whenever I can.

You seem to be getting good response, so I won't presume to critique your work at length here, just encourage you to keep working at tightening up your prose, use outlining, short more accessible sentences, specific examples, things like that. Let me know if I can ever be of help in a Writers' Workshop kind of way. I'm an editor, that's what I do (You can email me thru Hubpages). Best wishes.


Denise Handlon profile image

Denise Handlon 5 years ago from North Carolina Author

Wow, thanks Max for your feedback. I appreciate it, as I am fully aware that I love words and can be too lengthy with my points. My sister, who is also an editor, is constantly reminding me of this. But, I truly appreciate your offer and will definitely keep this in mind! Have a blessed week and I will look forward to hearing more critique from you.


sidds123450 profile image

sidds123450 5 years ago

Very helpful and useful hub, thanks Denise.!!


Denise Handlon profile image

Denise Handlon 5 years ago from North Carolina Author

Hi Sidds, Thanks for reading and commenting. Glad it is useful for you.


starstream profile image

starstream 4 years ago from Northern California

This was helpful and clearly organized.


Denise Handlon profile image

Denise Handlon 4 years ago from North Carolina Author

Hi Starstream-nice to meet you. Thanks! It is helpful to put it in simple terms; expanded details muck things up a bit when folks are just trying to get the basics.

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