When defining financial goals, it is really hard not to just write about dreams about a careless future. I do not want to do that – I just want to have more control over my financial situation. A few easy steps should clean out my expenses, and following my 90-days-challenge I should quite easily achive my goal of spending less than 800€ per month. My situation allows me to really cut my spending. I do not have rent to pay, my car is on the accounts of my company, and I got no major expenses planned. No major one except an investment in a new company. To take control over my personal finance is more like getting a good structure and overview into my situation.
- Clear out redundant contracts like gym membership, internet providers, cell phone and internet subscriptions
- Make no major expense in the next 90 days
- Create a monthly budget
- Make monthly envelopes with the allocated money, including free spending money
- File and pay my taxes on time
- Do not offer to pay for everybody when going out
- Buy my food and drinks in supermarkets, instead of the gas station I just happen to be at
- Invest 500€ per month in Fonts, Shares, Bitcoin and other stuff
- Create a dashboard displaying my status at once
All these little steps should lead to one big result – having more than six months of cash available without income, after recurring expenses.
Step by step, this should lead to the simple situation that I do not have to think about my money any more. My investments hopefully grow successful, but I want to keep my regular life at a minimal level, without taking big cuts in quality. Most of the money I spend is usually not necessary, so this should be a realistic goal to achieve.