When Maria joined Bolder Money, she felt stuck. A single mom with two kids, she had over $8,000 in credit card debt and no emergency savings. Every month, she worried about making rent, let alone paying for extracurriculars for her kids. She avoided her credit card statements, dreaded the word "budget," and believed she just wasn’t “good with money.”
In just three months of working with a Bolder Money coach, Maria completely transformed her mindset and her finances. She built an emergency fund of $1,200, created a realistic budget, and started tackling her credit card debt one step at a time. More importantly, she gained confidence and clarity. She no longer felt overwhelmed by her finances; she felt in control.
If Maria’s story resonates with you, know that change is possible. You can start taking charge of your finances in just one week. Here’s how.
Day 1: Acknowledge Your Emotions
Money stress isn’t just about numbers—it’s deeply tied to our emotions and experiences. Start by acknowledging how you feel about your finances. Write down your fears, frustrations, or even avoidance patterns. This isn’t about fixing anything yet; it’s about becoming aware.
Client Spotlight: Maria told her coach, “I’ve always felt ashamed of my debt, like it’s a personal failure.” Her coach helped her see that debt isn’t a moral issue—it’s just a problem to solve, step by step. Naming her shame helped Maria let go of it and start fresh.
Day 2: Take Stock of Your Financial Picture
The first real step to taking control is understanding your starting point. Gather all your financial information:
- Credit card balances and interest rates
- Checking and savings account statements
- Any loans (student, auto, etc.)
- Recurring bills and subscriptions
List everything in one place. A coach can help you organize and prioritize what to focus on first.
Helpful Tip: If this feels overwhelming, don’t do it alone. Schedule a free consultation with a Bolder Money coach to walk you through it.
Day 3: Track Every Dollar You Spend
For one day, write down every expense, no matter how small. Seeing where your money goes can be eye-opening. Are there subscriptions you forgot about? Impulse purchases that could be cut back? Awareness is the foundation of change.
Example: Maria realized she was spending $150 a month on takeout—money she didn’t feel great about once she saw the total. Her coach helped her plan quick, budget-friendly meals that saved her $100 per month.
Day 4: Build Your Budget with Confidence
Now that you know your financial picture and spending habits, it’s time to create a simple budget. The goal isn’t perfection—it’s about being realistic. Split your income into three categories:
- Needs: Rent/mortgage, groceries, utilities
- Debt Payments: Credit cards, loans
- Wants: Dining out, shopping, entertainment
Pro Tip: A Bolder Money coach can help you create a budget tailored to your unique situation and goals.
Story: Maria’s coach helped her set a small but powerful goal: redirect $50 per paycheck toward her emergency fund. It didn’t feel overwhelming, and by month three, she had saved $600.
Day 5: Make a Plan to Pay Down Debt
Debt can feel insurmountable, but with the right strategy, you can take control. Two popular methods are:
- Snowball Method: Pay off the smallest debt first for a psychological boost.
- Avalanche Method: Focus on the debt with the highest interest rate to save money in the long run.
Example: Maria used the snowball method. She paid off her $500 store card first, which freed up $50 a month to put toward her higher-interest credit card.
Action Step: A Bolder Money coach can help you choose the best repayment strategy for your unique situation.
Day 6: Automate Your Financial Progress
Set up automatic payments for your bills and automate small transfers to savings. Even starting with $10 a week can build momentum.
Story: One of Maria’s wins was setting up auto-pay for her minimum credit card payments. This eliminated late fees and stress, allowing her to focus on building her emergency fund.
Quick Tip: Many banks and apps offer round-up savings features that can help you grow your savings effortlessly.
Day 7: Reflect and Plan Ahead
Congratulations! By the end of the week, you’ve taken meaningful steps toward financial control. Reflect on your progress, no matter how small, and set one or two achievable goals for the next month.
Affirmation: “I am capable of managing my finances and building the life I deserve.”
Next Step: If you’re ready for personalized guidance, schedule a free session with a Bolder Money coach. Just like Maria, you don’t have to figure it all out alone.
You’ve Got This.
Taking control of your finances isn’t about perfection—it’s about progress. At Bolder Money, we believe that everyone deserves financial peace of mind, and we’re here to help you achieve it. Let’s take the next step together.
