Local financial coach breaks down how you can fix your finances in 2019

OVERLAND PARK, Kan. -- Did you spend too much over the holidays? Did you make a resolution to actually save money this year?

Getting financially fit in 2019 sounds simple enough: spend less than you make. But experts say it will take discipline and perhaps a little guidance.

Stephanie Womack is a professional therapist. Her patients often come to her with worries about money.

"It can be one of the number one stresses for people," Womack said.

But now she's the one getting advice on managing her money from a financial coach. FOX4 sat down for a session with her at Wealth on Purpose with financial coach Mary Ricketts.

"To get financially healthy, sometimes we need a little push, a little motivation," Womack said.

The first step is setting a budget and taking a closer look at all your expenses, not just your monthly bills.

Mary Ricketts

"You don't really think about what you are spending, $10 here, $10 there. But when you have to sit down and think about (it), it's like, 'Oh, I'm really spending more than what I thought,'" Womack said.

"Great, we've got your household budget, but where's your fun money? Because I know you go out. You are going to the movies. You are going to shows," Ricketts tells clients.

It's important that people hoping to improve their finances are honest with themselves and their spouse about spending. Ricketts said the number one area where people overspend is eating out.

Ricketts added in the digital marketing age, beware of buying items you don't really need, just because they're on sale. You don't have to life the same life as your friends on Facebook.

"Keeping up with the Jones will cause you to go broke," Ricketts said.

Percentages on saving versus spending can serve as good guidelines, but aren't for everyone. It all comes down to your goals. If cutting spending isn't realistic, you might have to look at other opportunities.

"We have to make a decision: Are you going to live within your income? Or do we need to look at others streams of income?" Ricketts asked.

Womack is hoping to put enough away to be able to afford to go into private practice later this year. That year-end goal starts with meeting the weekly goals and budgets set out for her.

Ricketts said don't eliminate the things that make you happy altogether, but be mindful of their costs.

"We have to put it all in the budget, otherwise we can't manage it. If we don't manage the money, the money is managing us," she said.

"Yes, it can be scary. It may even be embarrassing. However your money is going to work for you, however you have to put those things in place so it can," Womack said.

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