Let’s talk about money and the power of an actionable financial plan!

Money is something we all deal with daily, yet for many people, their personal finances seem completely out of control. The ease of buying things online, the rising cost of essentials, and the pressure to keep up with others have left many feeling overwhelmed.

Does this sound familiar? Your money hits your bank account and then, like a high-speed train, it’s gone before you even realise it. You’re not alone in feeling like this. As a financial coach, I’ve seen so many people stressed about their finances, feeling as though they’re drowning in debt.

The cost of living crisis is very real, and it’s affecting so many of us. Comparing ourselves to others, trying to keep up with what they have—it’s a constant challenge. The pressure to say “Yes” when your bank balance screams “No” is exhausting. It’s easy to fall into the trap of thinking we need to have everything now, as if delayed gratification is a thing of the past.

However, money doesn’t have to be stressful. When you have an actionable plan, you can be in control of your finances!

Find Gratitude!

One part of my job as a financial coach is helping people find gratitude and contentment in what they have right now. You can still strive for what you want, but feeling content with what you currently possess is a mindset shift that many of us need to work on daily. Some of my clients find that keeping a Gratitude Journal is a great way to stay focused on the positive aspects of their lives. By regularly acknowledging what’s good, you can shift your mindset and recognise the value of what you already own.

It’s a challenge to be content sometimes, but the good news is that you can work on gratitude while making real progress towards your financial goals!

When It Feels Like You’re Losing Control

When people come to me, they’re often feeling pressured. They know they need to take action, but they don’t know where to begin. It’s an overwhelming time for personal finances, but as you read this, I want you to feel hopeful. You can take control of your money, and I’m here to show you how.

Let’s start by breaking it down with these steps:

1. Calculate Your Net Worth

This is the foundation of understanding where you stand financially. Knowing your net worth is an important first step to taking control of your money.

To calculate your net worth, follow these simple steps:

List Your Assets: These are all the things of value you own, such as:

• Cash (savings accounts, current accounts, etc.)
• Investments (stocks, bonds, retirement accounts)
• Property (home, rental properties, land)
• Valuables (cars, jewellery, artwork)

Add up the value of all these assets.

List Your Liabilities: These are the debts or financial obligations you owe. They might include:

• Mortgages (home loans)
• Car loans
• Credit card debt
• Student loans
• Personal loans

Total these liabilities.

Now, subtract your total liabilities from your total assets:

Net Worth = Total Assets − Total Liabilities

For instance, if your assets total £200,000 and your liabilities total £50,000, your net worth would be:

£200,000 – £50,000 = £150,000

This number reflects your current financial position. Tracking your net worth over time will help you monitor your progress. Remember, your net worth isn’t about how much you earn; it’s about how much you save and invest over time.

2. Create a Monthly Budget (Or as I Call It: An Intentional Spending Plan)

I know, the word budget makes some people uncomfortable. That’s why I prefer to call it an intentional spending plan. Doesn’t that sound much more empowering?

Here’s the truth: A budget is just a plan for your money. When my husband and I started working on our finances, we began to sit down together every month to review the numbers. This practice became the backbone of our journey to financial freedom. It wasn’t just about tracking expenses; it was about telling our money where to go, instead of constantly wondering where it went!

By creating an intentional spending plan, we were able to prioritise what mattered most to us, cutting out unnecessary expenses and focusing on our goals. Whether your goal is to pay off debt, save for a house, or plan a holiday, a budget helps you stay on track.

Read more: How to create a budget in 6 easy steps

3. Set Clear Money Goals

Once you’ve calculated your net worth and developed your intentional spending plan, it’s time to set some money goals. Having clear, actionable goals will give you something to work towards.

Without goals, it’s easy to lose motivation. But when you can see your progress, it becomes a powerful motivator. Whether it’s paying off debt, building up an emergency fund, or saving for retirement, having goals in place gives you direction.

Read more: Setting Financial Goals

But What If You’re Married and Your Partner Isn’t On Board?

This is a challenge that I’ve faced personally, and it’s something I know many couples struggle with. Money is one of the top causes of divorce, and it’s not surprising. When two people come together in marriage, they often come from very different financial backgrounds. Neither one is necessarily right or wrong, but it can make it difficult to get on the same page.

In my case, I was the saver, and my husband had a negative mindset towards money. We didn’t talk about it for almost two decades, and, as you can imagine, our finances were a mess. I knew I needed to take action, so I threw myself into learning. I read every book I could find on personal finance, listened to podcasts, and searched for any advice that would help me bridge the gap between us.

That’s why I wrote a simple, easy-to-read eBook full of tips for talking to your overwhelmed or reluctant spouse about money. It’s based on my personal experience and aims to help you initiate those difficult but important conversations.

When you and your partner get on the same financial page, everything becomes easier. You can work together to create an intentional spending plan, set joint goals, and begin to crush your money goals as a team. That’s what happened for us.

Our Journey to Financial Freedom

Once my husband and I started working together, things started to change. We read personal finance books, listened to podcasts, and developed a plan to become debt-free, build an emergency fund, and enjoy life without constant financial stress. It wasn’t easy, but it was worth it.

We picked up extra jobs, sold things we didn’t need, and kept a close eye on our numbers. The most important part, though, was that we were finally having conversations about money instead of arguments. It wasn’t always easy, but we were committed to changing our financial future together.

When you work as a team, magic happens. But just because you’re married doesn’t mean you automatically know how to manage your money together! In fact, many couples never receive guidance on this topic. We had marriage prep classes, mentors, and even a financial advisor, but no one told us how to handle our finances as a couple.

That’s why I started Money and Marriage—my financial coaching business. I wanted to be the person I wish we’d met 20 years ago! I’m passionate about helping couples talk about money, develop a financial system that works for both of them, and get a handle on their finances.

Ready to Get Started?

If you’re feeling overwhelmed by your finances, know that you’re not alone. It’s never too late to take control of your money and build a brighter future. When you work with me, we’ll create a customised plan that fits your unique situation. I’ll be your cheerleader, your guide, and, yes, sometimes even your bossy big sister—pushing you to achieve more than you thought possible.

If you’re ready to take the next step, leave a comment below or reach out to schedule a free, complimentary call today. Let’s get you on the path to financial freedom and peace of mind.