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7 ways to reset your finances in 2022 with the Queen of Free

Cherie Lowe, the Queen of Free, shared her 7 key principles to making a difference with your money this year Sunday on 13Sunrise.

INDIANAPOLIS — A new year offers a fresh start and if you’re looking to hit the reset button or begin again financially, Cherie Lowe, the Queen of Free, shared her 7 key principles to making a difference with your money this year Sunday on 13Sunrise.

1. Believe change can happen

Hope may seem just out of our grasp after two years of a pandemic dragging us down. But all change is rooted in the belief that things can get better. You won’t get anywhere if you don’t think it’s possible. Be ready for setbacks along the way and don't let them derail you.

2. Choose a day

It doesn’t have to be January 1. Just try to avoid the trap of restarting every week and choose a date certain to move you toward change.

3. Resource yourself

If you don’t know how to begin, that’s okay. Head for the library to find books and books on tape. Or listen to financial podcasts. Add social media feeds with groups and pages that will promote your success and unfollow those that won’t.

4. Set a goal

You will need a road map to get where you’re going. Rather than say, “I’m going to get better at my finances,” choose a specific goal. Say instead, “I plan to pay off X dollars of my credit card debt,” or “I will only spend X dollars at the grocery store per week.”

5. Set a goal within the goal

Micro goals inside the larger target can keep you going. Spending a budgeted amount weekly at the grocery store sets micro goals like meal planning, list making and monitoring what you put inside of your cart. Pay your bills on time, reduce your spending and apply more to your outstanding credit card balance.

6. Create a visual

Our brains need reminders of why we’re doing what we’re doing. Make your own chart to make a game of your financial goals to keep the process exciting. Charts that look like game boards will help you see your journey more clearly.

RELATED: Queen of Free: Strategies for smart generosity

7. Celebrate small success

Minor victories fuel larger success. If your simplest of goals are to eat out less, set a goal to go one week without eating out. Then celebrate by having a budgeted for meal out at a favorite restaurant. We waste money by not having a plan and then spending on things we don’t even like. Celebrate payoffs of individual bills and loans along the way with a special meal at home or a weekend getaway you pay for with cash. Doing something fun along the way keeps feeding your long-term commitment. 

Watch Cherie's full Sunrise segment in the video player or check out her blog.

RELATED: Simple money-saving strategies from the Queen of Free

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