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Get smart about spending, debt and retirement: 5 steps to becoming the boss of your money

Your goal is to tell your money what to do, not let it get away from you on an impulse

Do you have money for emergencies? Are you funding your retirement and paying cash as you go? If not, you’re like most other Americans, and money is your boss. As REDX's Michelle Holt puts it, “Money is a terrible master but a wonderful servant.” Michelle Holt understands money. Before joining REDX as director of marketing and strategic relations, Holt was managing billion-dollar portfolios for Goldman Sachs. At the recent Awesome Females in Real Estate conference in Scottsdale, Arizona, Holt outlined a five-point plan that can put you on the road to true wealth. What constitutes true wealth? According to Holt, “Wealth is measured in time, not dollars. Wealth is the number of days you can live without working.” While many people are rich, the truly wealthy are those who don’t have to worry about money. In order to become the boss of your money rather than having money as your boss, Holt recommends that you follow the five-point plan below. 1. Know your financial...

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