7) Create a Budget
Three things are crucial to know for creating a budget. These include: how much money is coming in, how much debt you currently have, and how much will it cost to reach your goals (step 1). You can start by tracking your financial income and expenses for about 3-5 months. The next part is to make sure you have no debt. If you do not then you are doing great. If you have debt do not worry, simply make sure your monthly payments are slowly getting rid of your debt. Then you need to figure out how much money you will need in retirement to support the lifestyle you want. An extra step would be to check up on your investments. Make sure your money is being put into multiple diversifying investments that will not cost you a lot of fees. Lastly, start putting your budget plan into action.