Each month Todd B., lead host of the Good Morning Show, will sit down with our friends at JPMorgan Chase to talk about all facets in the arena of finances. This month focus will be discussing the steps to obtaining financial fitness.
The first of the year is the perfect time to balance your finances and establishing budgeting practices,especially after all the over spending during the holiday season.
Todd, sat down and had a chat with Chase Market Director, Angie Royster. Angie stated that consumers need to first take a look at what they are working with when it comes to their finances. She emphasized this key point to the WPGC family because this has to happen in order for you to get into the best financial shape. She also encouraged that you should assess where you are financially, determine what your financial goals are; and then come up with a budget to plan it out.
One key step that Ms. Royster stressed was to take the time and print out both your credit cards and bank statements. This step allows you to have a clear picture of how your money is coming in and going out. The second step to financial fitness is to write down your financial goals for the new year. This could include creating saving for college for your kids, purchasing a new home or a new car, or even planning for a much-needed family vacation.
You can visit JPMorgan Chase and use the user-friendly budget builder tool; it helps you get a visual about your spending habits.
For most of our listeners who want to know how can you save living pay check to pay check. Ms. Royster stressed one key point. In assessing your financial landscape, that it actually takes 30 days to build a habit. She advised that our WPGC family should take it slow in this new phase of financial fitness and build a comprehensive habit that works best for you. Secondly, Ms. Royster encouraged that you make this new habit work daily. Then finally, this new financial habit should come second nature to you. Set a budget…. take note of excessive spending and use any extra money to pay down debt. Even if its small amounts, as you make strides to better financial fitness, every little bit helps. Another great tool provided by Chase is autosave. The way that autosave works is that it automatically transfers money from a checking into a saving before you have a chance to spend it!
One small change in your lifestyle can make a big impact.
To hear the full interview Click Below