What is the ‘one’ thing I could do to make the biggest improvement to my financial situation?

The solution to this is amazingly simple yet most people struggle with it. Most financial planners ignore it because it doesn’t fit within their pricing model.   The ‘one’ thing that can make a big difference is managing your cash flow; otherwise known as ‘budgeting’.   I think it probably sits alongside ‘dieting’ in people’s minds and my wife keeps telling me not to call it budgeting.   There are lots of ways you can manage your cash flow.   Some use a variety of spending and saving accounts, some use spending ‘targets’ whereas others use saving ‘targets’.  In the end, it is all the same, but it is about finding a way that works for you.   Unless you are a very patient and planned person then I suggest that you find someone (financial coach or financial planner) to work with to manage your cash flow even if this is all you focus on for the first 12 months.   Getting it right or setting up good habits in this area lays the foundation for everything else you do.

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