BLOGS BY SANDY MEINDERSMA 

2024 has just a few days left, and then we turn the calendar over to 2025.  

I’m not sure about you, but this year seems like it was very long and yet it flew by.  

For many of us, the year was filled with lots of fun and entertainment, but there were also challenging circumstances that affected our mindset and wallets.  

If we don’t stop and look carefully at how the year went, not just in terms of finances, but a comprehensive look at our lives, we won’t know if we’re on the right track or not. And if we don’t know, we can’t correct what’s not on the right path.  

Haggai 1:5-6 reads

Now this is what the Lord Almighty says: “Give careful thought to your ways. You have planted much, but harvested little. You eat, but never have enough. You drink, but never have your fill. You put on clothes, but are not warm. You earn wages, only to put them in a purse with holes in it.”

That one stings a bit, but I’ve definitely been there - working hard, but never having enough and always feeling broke. 

While these verses speak to our finances, they can also apply to our physical and mental health, relationships, careers, and even our surroundings.  

However, if we want to give careful thought to our ways, we need to evaluate our finances in terms of spending, savings, debt and investing because our money measures a lot of things.

Have you been able to identify and eliminate the spending that no longer serves you? I’m not talking about cutting out your Friday latte, or pizza night, but the spending that does not SATISFY you and does not align with your goals. Unused subscriptions, random orders from Insta, Amazon, Etsy and the like that you would not miss if you did not have. Getting rid of the unnecessary spending frees up cash for the spending that aligns with your long-term goals.

Guardrails, or strategies are a great way to help you stay within your spending plan. Here are some examples real people have come up with:

One of my clients tracks his expenses daily, counts the number of times he goes out, and makes it a habit not to leave his house unless he’s eaten to save on unnecessary restaurant expenses.  

Another client uses cash to avoid overspending in those categories where it’s easy to do so (groceries, gas, entertainment).

Creating and sustaining a savings habit will give you money for emergencies, big expenses and repairs and special events.  

Ways to ensure that you’re saving:

• Automate it. Have your employer deposit a sum of money from your paycheck into a savings account each payday.  
• Track it. Evaluate your savings account balance (and all your financial numbers) on a regular basis. I find that quarterly is a good interval but do what works for you.

Debt: Is your debt gone, or is it still hanging around like a stray cat, or worse, has it increased? Unless you consciously took on debt for a large purchase (car, home, school), you want your debt figures to be going down month after month. 

When you are in debt, you are paying for a past expense/experience, and you’re paying interest (often 25% or more) on that past experience. What fun is that? Carrying debt erodes your ability to save and can make it difficult to live within your means. Paying off debt frees up resources for the things you value most.

Looking ahead to 2025

No matter where you are in your financial journey, there’s usually room for growth in one of these areas.  As you’re making your New Year’s resolutions, if better money management is on your list, here are some ways I can help you.  

Office Hours: I will be offering office hours on January 16, at 8 pm eastern time.  Bring your questions about your finances, or about coaching, and let’s make a plan to start the new year strong by getting our finances in order.  

Here’s the link: Office Hours - Zoom Meeting

Groundworks: If you’re looking for an introductory class to money management, join me for my 6-week Groundwork class. We’ll cover Needs vs. Wants, Saving, Spending, Debt and Giving and Generosity. This class is great if you’ve never been taught how to manage money, and you feel like yours is out of control.  

Class starts January 27, at 8 pm eastern and runs for 6 weeks (through March 3).  The cost is $147 for all six weeks and includes a free one-hour coaching session. If you sign up by January 20, I can discount the price to $99. 

Sign up here: Groundwork - Sign Up Forms 

Private Coaching: If you are looking for personal accountability and guidance on how to structure your finances, I’d love to work with you one on one.  My clients report feeling less stress and empowered as they work with me.  I am discounting my 3-month Foundations coaching package by 20% for anyone who signs up with me for coaching by January 20.  

Wishing you and all your loved ones a joyous holiday season!