Well we are two months into the New Year. Still early, yet 1/6th done. Trends are appearing. The rush and promise of the New Year feels quaint, while new visions of tax rebate check...sorry stimulus checks, dance in your heads. The big question is how is it going? Especially Budget and Goal-wise.
I firmly believe a good plan executed is far superior to an excellent plan in a drawer, but even better is the adequate plan that fully recognizes that the battle plan needs to be fluid. I like to do a look every two months at my goals to see if they are still on track, are achievable and even make sense given whatever has gone on.
This is so important for your finacial goals and budgets. Did you really think you would spend $14 a month on eating out when you had been spending $100? And now you are spending $125, because you also cut the grocery money in half!
So time to breakout the old checkbook and write yourself a check...a reality check. Grab two months worth of data, one month is too short due to ninja bills that can creep up, and do a line by line check of the budget. Check reality vs actual, then rebalance. Once that is done take a whack at your annual goals. Does the reality check mean your a bit behind, if you can catch up do, if not reset! Perhaps you are that rare bird that under-estimated where you would be right now. Sorry no points for lay-ups...push it out!
The idea is to have goals the stretch you but don't break you! Celebrate your wins analyze your losses to see where next time you can improve. Do this and you will be amazed at what you can do!
How are has your first 1/6th gone? Need to readjust?
