Prioritize Your Money with the Financial Order of Operations: Every Dollar Deserves a Purpose [Issue #11]
The Personal Finance Order of Operations: Make Every Dollar Count
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To make the most out of extra money that comes your way, such as a bonus from work or tax refund, it’s important to prioritize your financial goals. The financial order of operations provides a framework to help you do that. This ten-step framework helps you prioritize your financial goals and make better-informed decisions with your money. Use the financial order or operations to prioritize every single dollar that comes your way.
Every dollar is an employee and needs to be given a job. Here are the ten steps:
Step 1) Create a budget to figure out expenses:
A budget is simply a plan for your money, outlining your income and expenses. It allows you to see exactly where your money is going and helps you make informed decisions about your spending.
Creating a budget allows you to identify areas where you may be overspending, giving you the opportunity to make adjustments to your spending habits. Furthermore, a budget helps you prioritize your ex…
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