For many families, the weight of debt isn’t just numbers on a page, it’s the constant background noise of life. Over the years, so many people have found themselves drowning financially just from trying to do the basics: keeping a roof over their heads and food on the table. Rising costs of housing, groceries, and everyday living have left countless households struggling to get by. Having kids makes it worse when they want all the expensive clothes, toys, and have a million different ailments that need prescriptions and medicines.
And then there’s the added pressure of appearances. It’s all too easy to look around and feel like everyone else is thriving, new cars, vacations, eating out, shopping sprees. The truth? Many of those people are also buried under debt, keeping up with a lifestyle they can’t actually afford. The reality is harsh: debt has become the norm, but it doesn’t have to stay that way.
We took a big hit when we were forced to move out of our rental home we had for 12 years and it has been a battle ever since. But we are sticking to the plan and working hard to get back on track and save for our future.
The good news is that making a plan, your plan, can change everything. Having a financial roadmap not only helps you take control of your money but also gives you something invaluable: purpose and peace of mind. When you know where your money is going and where you’re headed, the stress begins to lift. You’ll start to see a light at the end of the tunnel, and that light will grow brighter as you stick to your goals.
Here are 10 steps to help you get started on your financial plan:
1. Face the Numbers Honestly
Pull together all your bills, debts, and expenses. It’s not fun, but knowing exactly where you stand is the first step toward change. We have about $200,000 in debt with both our vehicles, credit cards, and other miscellaneous debts. We are working at plugging away at it each month and it is slowly going down.
2. Track Every Dollar
For at least one month, write down every expense. You’ll be surprised where your money disappears, and this will help you identify habits that need adjusting. I am so guilty of getting takeout when I’m exhausted. I work 11 hours a day running a daycare in my home. Then when I get home I have to make dinner and deal with my 3 kids and housework. My budget doesn’t include takeout at the level I have been ordering so I fail at this one once in a while.
3. Build a Realistic Budget
Base your budget on what you actually earn, not what you wish you earned. Focus on covering essentials first, housing, food, utilities, before anything else. I would never put my home at risk by spending my rent money on useless garbage. My home, food, and bills always come first no matter what even if I have to work harder to make it happen.
4. Set Clear Goals
Do you want to pay off your credit card in a year? Save for an emergency fund? Buy a home? Write down specific, achievable goals to keep you motivated. My goals are to have my thousands in savings back after this year’s destruction of my account due to the move. I’m plugging away at it but have some debt to clear first.
5. Prioritize Your Debts
List debts from smallest to largest or highest interest to lowest. Choose a method, like the “debt snowball” or “debt avalanche” and stick with it. I have some very high interest credit cards that desperately need to be paid down and those come first because the interest is just ridiculous.
6. Cut Out the Extras
Look for areas where you can trim spending: unused subscriptions, dining out, shopping habits, or even high-interest luxuries. Redirect that money toward your goals. All my kids have subscriptions to certain channels, game pass, PlayStation plus, etc. and it can get seriously expensive. Try to find ways to cut back or decide which is better having the kids at home watching tv and playing games or getting out and staying busy with friends? This is a hard one because your kids will be upset and they will need to have a tech detox meltdown. You will need to be involved in the process of keeping them busy and distracted.
Let’s not forget each of my kids and my husband and I has a cell phone that with Telus’ ridiculous plans are $85 each and that’s the lowest cell phone plan available! Wow!
7. Start an Emergency Fund
Even $500 set aside can keep you from using credit cards when unexpected expenses hit. Slowly grow it until you have 3–6 months of living expenses. This is so important to work on mainly for emergencies. When I had to move my savings is the only thing that helped us to move and pay for 4 months of bills, food, and rent.
8. Increase Your Income
Explore side hustles, overtime, or selling unused items. Even small amounts of extra income can speed up debt payoff and savings. I work so hard on this website and my socials to pump in extra cash for my family everyday. There are lots of different options for making extra cash and improving your financial stability.
9. Celebrate Milestones
Paid off a credit card? Reached your first $1,000 in savings? Celebrate the win—it keeps you motivated for the long haul. I always try to enjoy each day and have fun regardless of what my budget says because it helps me keep working on my goals. If I didn’t treat myself once in a while it wouldn’t feel worth it to me. Spending a little on yourself isn’t the end of the world.
10. Stay Consistent and Flexible
Life changes, and so will your plan. Review your budget and goals monthly, and adjust when needed without giving up.
Starting a financial plan isn’t about depriving yourself, it’s about reclaiming control and reducing the stress that money struggles create. You deserve to live with purpose and peace of mind, not constant financial anxiety. With a plan, patience, and persistence, you can start digging out of debt and build the future you’ve been dreaming of.
Your money doesn’t control you, you control your money.
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