If you’re like most people, chances are you’re balancing your time between working (or running your business), parenting, sports, socializing, after-school activities, learning something new or just being busy in general.

The last thing many of us think about is managing our personal finances. But if you don’t have your money situation in order, you’re only adding to the chaos and stress in your life — whether you’re aware of it or not.

Here are seven ways to make sure your finances are in order as you continue to grow your wealth and secure your financial future:

1. Get educated.
Take the time to educate yourself about various personal investment and financial topics. Schedule weekly or fortnightly dates with yourself and spend some time managing your personal finances, attending workshops and reading books, blogs or magazines. The more you know about your situation, the more confident you will feel about your financial future. If you need even more support, consider contacting an Infinite Wealth staff member who can assist with connecting you to the right person to understand your financial situation, your financial goals and create a strategic wealth plan to help you achieve the financial peace of mind we are all seeking.

2. Check your credit regularly.
Your credit report is like a file on you and your credit history. It tells lenders how risky a borrower you are. When it comes time to purchase an investment property or set up an equity loan, you want your credit report and credit score to be in top financial shape. This will ensure you qualify for good interest rates as well as borrow with ease. Get in the habit of checking your credit report and credit score at least to confirm its accuracy. Do it on your birthday to make keeping track easy. You can access your credit report for free once per year at www.getcreditscore.com.au .

3. Create a budget.
Although this sounds very basic, many hard-working Australian’s have no budget in place to track their personal income and expenses. You can use an app such as Pocketbook Personal Finance Expense Tracker to track your income and expenses, or a simple Excel spreadsheet. Whatever system you decide to use, just make sure it works for your situation and your lifestyle. If you’re serious about getting on top of your financial situation and growing your wealth, you must allocate time and energy to updating your budget every week. This will ensure you’re able to pay yourself first (i.e. savings) and pay your bills second.

4. Automate your finances.
Technology makes it easy to manage day-to-day finances. Set up your finances so that a majority of the process is automated. You can use online bill pay or set up automatic transfers every month for your savings bucket and bills. That way you don’t have to worry about whether you’re paying your bills on time or being charged late fees for late payments. If you’re concerned about having all your bills automated, set up corresponding calendar alerts to check your statements and payments to ensure accuracy. Also, you must strive to automate your savings every month. The more you can automate your finances, the less you have to worry about on a day-to-day basis.

5. Pay off debts.
Make a plan to pay off your debts as soon as possible. Start by making a list of all your debts — car loans, credit cards, student loans, parent loans, etc. Include the current balance, minimum monthly payment or commitment, and current interest rate. From there you can review your budget to determine how much you can put toward additional payments to get out of debt as soon as possible. You can do some further research on the best debt-reduction strategy to confirm you’re paying off your debts in the most efficient and effective manner. When working on debt reduction, it is important that you have an adequate cash reserve or threshold of money in the bank for any short-term emergencies that may arise (car or health problems, etc.).

6. Build your cash reserve.
Having a cash reserve is an integral part of your financial strategy. It allows you to use cash to pay for those random expenses or emergencies that arise in your day-to-day life instead of creating more debt with credit cards. As a hard-working Australian who is striving for financial freedom, you should prioritize having a cash reserve that will cover you for at least six to 12 months in the event that your main income stream stops. A cash reserve will allow you to pay long-term your personal bills and not stress or worry about making ends meet.

7. Start investing.
While it is paramount to always invest in yourself from an education and savings perspective, you don’t want to miss long-term growth that investments such as property offers. While diversification is extremely important, over the long haul property has proven itself many times. Work with people who are where you want to be and allow them to help you create a long-term investment portfolio of property, managed funds, superannuation and shares that are aligned with your current situation, your financial goals and risk tolerance.

There are many more things that you can do to get in control of your finances and plan your way to a wealthier situation. One of the services we offer is a Planning & Strategy Session. These are valued at $295 – however, as a commitment to helping hard-working Australians to reach their financial goals free from the constraints of money, we do them for free.

Click here to book yours in right now and find out exactly where you will end up if you stay on the course you are on… and where you could be with a few small changes, using nothing more than what you have available to you right now.