The last few weeks I have suggested that you complete some tasks. The first one was to ask yourself "Why do I want to be financially sound?"

While the question may sound trivial, it's really an important one.

The response I hear most often is "To be able to buy anything I want when I want it and never have to worry about having enough money to afford it." Attainable? Perhaps long-term or if you pick those lucky lottery numbers! Most people would rather, at least right now, to have money left over at the end of the week. That goal is much easier to attain!

Another task was to write a list the reasons you want to be financially sound. I even suggested cutting pictures out of a magazine that reminded you of a financially secure lifestyle. This could be pictures of boats, nice homes or great cars. It could also have been pictures of people who look financially sound. I suggested you display these items on your refridgerator.

I bet you are wondering why or thinking I've lost my sanity? Simply put, it is a great way to keep you focused! By looking at these things, your list, your pictures, you'll remind yourself over and over of this important goal each time you are in the kitchen. It really works!

I also suggested you create a budget. It can be as basic or detailed as you want it to be. Create a budget listing all your bills and their balances or average monthly payments along with yourr income. Some people create their budget on paper. Others create spread sheets on their computer. You do whatever works for you!

I don't want you to include a miscellaneous section in your budget, nor do I want you to create trivial catagories such as "eating out" or "movies/entertainment". For now, just your bills and income. We'll come back to this budget later.

The next task was to balance your bank account. Bring it up to date. If you need help, head to the bank. Your bank officer will be happy to help you and they have the tools and the resources to bring you current. Rather do it yourself? Check out these step-by-step instructions.

One more thing: check your credit report. Everyone is entitled to 1 free "look" at their credit report each year. What you will receive is your "flat file" or all the information contained in your credit file. You won't get your FICO score, but that isnt important right now.

The only website that the FTC and most banks recommend is www.annualcreditreport.com. Print out your credit files from the 3 credit bureaus. You are allowed to correct any informaition that is on each credit report online.

Most people are surprised at what they find on their bureaus. Many have wrong information and others find that some companies who they thought were reporting, are not. When I checked mine, 2 of the bureaus listed my birthday incorrect. They made me 9 years older.

Keep these files handy. We'll work on them together next week.

Share with us by leaving a comment! Why do you want to be financially sound?