Whether it’s due to a change in income or simply a decision to prioritize savings goals, we all need to tighten our budget belts sometimes. While it’s not easy to change your spending habits, it begins with reminding yourself of the difference between necessary spending and those purchases that are simply nice to have. In this episode, I share a simple practice that can help you take control of your spending and gain the confidence to meet your budget goals.

During an emotional life transition, it can be difficult to get outside of our own heads. Emotional turmoil clouds our decision-making, yet there are often many financial implications when a relationship ends, and decisions must be made. One of the most effective ways to come out financially on top after a relationship ends is to keep emotion out of these decisions. Though difficult, this ensures you will have the means to take care of yourself and prepare for the next chapter of your life.

One of the most challenging and stressful events we can go through in life is the end of a marriage. While most people don’t plan for divorce, it impacts roughly 50 percent of families. It changes nearly every aspect of our lives, and it is both mentally and emotionally draining. Despite all of this, there are practicalities that need to be addressed, especially financially. Very few things happen overnight in a divorce process, so you have time to truly consider your long-term decisions.

To find success in managing your household finances, it’s crucial to lay a foundation built on the fundamentals. My challenge to you this week is to ask yourself four questions. Your answers will tell you whether your financial foundation is strong, or whether you need to work on the fundamentals.

Marriage is a special life transition that many people experience more than once. No matter what your marriage looks like, having the money conversation with your new spouse can be complex. You each bring your own money story, values, and financial resources and obligations to the relationship, which can create complications. One way to head-off financial turbulence in your relationship, however, is to commit to the marriage with eyes wide open.

Society encourages us to look at things in black and white but, when our finances are uncertain, this mentality can hinder our ability to see a new path forward.

Taking stock of who you really are and what you really want can have a lasting impact on how you manage a challenging life transition. In the midst of transition, self-reflection helps you identify your main sources of challenge and worry.

One of the frustrating parts of financial planning is that your plan is never permanent. Unexpected financial setbacks happen to all of us, and each time they do we must reevaluate our plans. Setbacks can be things like job loss, the death of a spouse, suffering the effects of a risky investment, a failing business or many other stressful occurrences. In these situations, it’s normal to feel anger, sadness or fear, but one thing that can help us move forward is resilience – the capacity to bounce back from difficult situations.

Right now in the world, so many people are going through transitions, many of which were unexpected. This is difficult. It’s painful. And it’s easy to feel like a victim of circumstance. But when we choose to own the moment – that is, to take charge of how we act and react in the face of a difficult transition – we can use our energy to accept what is, while also planning for what will come next.

I want to let you in on a little secret: big goals don’t require big steps. Taking small steps creates a big impact over time, and before you know it, those out-of-reach goals begin to feel much more attainable. So, what small step will you take today?