6 Steps to Take Control of Your Money: Budgeting, Debt, Saving, and Risk Protection (Ki Polasik, CFP®)

If money feels stressful, confusing, or overdue for a reset—this episode gives you a clear, step-by-step roadmap. Certified Financial Planner Ki Polasik breaks down six realistic steps to take control of your finances. They sound simple, but they work—because they force clarity, consistency, and smart protection against life’s curveballs. In this episode, you’ll learn Ki’s 6-step framework: 🔥 Step 1: Knowledge is Power Gather every account and asset (checking/savings, 401k/403b, old employer plans, IRAs, investments, annuities, home, valuables) and list every liability to calculate your net worth. 🔥 Step 2: Set Goals Write detailed short-, mid-, and long-term goals (and make them specific enough to keep you motivated and accountable). Ki recommends using a journal and reviewing your finances weekly—like 30 minutes on Sundays. 🔥 Free tools mentioned • undebt.com (debt payoff planning) • Credit Karma (tracking) • Planning tools offered through many 401k providers (ex: Empower) 🔥 Step 3: Budgeting / Expense Tracking Track expenses for at least 3 months. Use the 50/30/20 rule (needs/wants/savings) and learn exactly where your money is going. 🔥 Step 4: Follow Your Plan Build personal rules (ex: no online shopping after 8 PM), and plan small rewards so you stay consistent without snapping back to old habits. 🔥 Step 5: Decide Where to Save First Prioritize: Emergency fund (3–6 months in a high-yield savings account) 401k match Roth IRA / investment accounts Ki also explains why high-interest debt (especially credit cards) should often be tackled first if rates are higher than expected market returns. 🔥 Step 6: Risk Management Protect the plan with the right coverage (life, disability, long-term care) and get the basics in place with an estate attorney: will, power of attorney, healthcare directive. Ki’s reminder: budgeting isn’t about shame—it’s about freedom, choices, and a life you can actually enjoy while still building security. Learn more about your ad choices. Visit megaphone.fm/adchoices