Blog #Make every dollar count
Make every dollar count
Before determining a reasonable course of action, you must have a clear picture of your current situation. This is accomplished by conducting an Initial Spending Assessment. The goal of this step is to identify where every dollar goes after it leaves your wallet. After you’ve identified each expense, you’ll have the information you need to make sound decisions about your financial goals. There are two steps in the Initial Spending Assessment. In our first step, you’ll create a “Gut-Check” budget to get a sense of how much of your income is going into several specific categories of spending. Though mindful of the fact that each of us has his or her own spending needs, we’ll also make recommendations about appropriate percentages of your income that may be dedicated to each category.