October 27, 2014 Admin | October 27, 2014 What is “judgment day” in regards to personal finance? When should you do it? Why?
2 thoughts on “October 27, 2014”
Judgment day is when you decide to get your financial house in order, this is when you step back and look at yourself and see what you need to fix, you look at paying off your debts and trying to save more, normally you put together some goals and a financial plan. This is when you take a hold of your financial life. You should do it as soon as possible, the sooner you can fix some stuff the better off you will be, the less debt you have the less interest and fees. You will feel better and less stressed if you have your finances in order.
Well said, Garrett. Let me fill in a few small holes.
Judgment day is the day you stop and review everything financial in your life. You take every bit of spending, saving, investing, etc. and break it down. Then you start asking questions. Why am I paying for that? What is that for? Can I reduce the price of that? And on and on and on.
The key is to challenge everything you do so you can be more efficient with the dollars that come into and leave your life. We all tend to get sloppy over time, that is very human. Periodically, we need to stop and review what we are doing. Every few years is reasonable. You can read more on this subject by going to the Judgment Day tab on this website. Take control!