How to Turn Your Finances Around in 6 Months

Brian and Bo unveil a powerful six-month plan to help you turn your financial life around – no matter where you’re starting from. Whether you’re overwhelmed or just want to fine-tune your money habits, they break down actionable steps month-by-month, from getting organized and setting goals to budgeting, building margin, and making your money work harder for you. It’s time to ditch procrastination and start building a brighter financial future – one step at a time.

Do you feel like your financial life has gone off track? You’re not alone – three out of four Americans say they’re overwhelmed by their finances. Whether you’re starting from scratch or just looking for a reset, the good news is that you can start turning things around today. In this episode of The Money Guy Show, Brian Preston and Bo Hanson walk you through a six-month plan to completely transform your finances.

Month 1: Know Where You Stand

The first step is awareness. Gather your financial data (your income, expenses, debts, and assets) and get a clear picture of where your money is going. Use tools like our Free Net Worth Template or take it a step further with our Net Worth Tool, the same one Brian and Bo use personally.

But it’s not just about numbers. Reflect on your mindset:

• What are your short- and long-term goals?

• What worries or confuses you about money?

• Are you and your partner aligned financially?

Understanding your “why” is crucial to making meaningful progress.

Month 2: Track Where Your Money Goes

Now that you know your financial baseline, it’s time to track your spending. Categorize your expenses into three groups:

• Green: Essentials like housing, utilities, and groceries

• Yellow: Nice-to-haves

• Red: Wasteful or unnecessary spending

Budgeting isn’t glamorous, but it’s a foundational step. Use budgeting apps or even a simple spreadsheet to start planning and tracking expenses. Remember, awareness leads to control – and control leads to change.

Month 3: Put Your Money to Work

With a clear picture of your income and spending, you can now create financial margin. That extra money can be used to:

• Pay down debt

• Build your emergency fund

• Invest for your future

Not sure where to start? Follow our Financial Order of Operations to prioritize your next steps and get the most out of your money.

Month 4: Track Progress and Build Habits

Check your results. Are you hitting your savings targets? Are your debts shrinking? Track your progress month-to-month using our Net Worth Tool and adjust as needed.

Celebrate milestones along the way. Whether it’s paying off a credit card or hitting a savings goal, small wins fuel long-term motivation.

Month 5: Project Your Future

Now it’s time to look ahead. Use projection tools to see where your current habits will take you. Want to know if you’re on track for financial independence? Our Know Your Number Course can help you determine how much you’ll need to retire and when you’ll get there based on your current trajectory.

Month 6: Reassess and Repeat

Your financial journey is a cycle – not a finish line. Take time to reassess your goals, systems, and behaviors. Ask yourself:

• Are my financial habits sustainable?

• Do I need to adjust my spending or saving?

• What new goals can I set for the next six months?

Revisit your net worth, spending plan, and financial priorities regularly. The goal isn’t perfection – it’s progress.

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