The year 2020 was a year unlike any other and one which many of us have never experienced before. For many of us it was a year where we all hit pause to let the dust settle. It gave many people the chance to reflect on their personal housekeeping. This may have included finally drawing their attention to items that they have put off, such as maintenance or renovations to property; signing up or starting the ‘thing’ they have always wanted to do; or paying closer attention to their finances. At the time they may have even set themselves a deadline to achieve these.
So, as we approach the end of the 2021 first quarter, it is a good time to review and track the progress towards your goals and to ask the question “Have I made progress or am I about to carry the same ‘to do’ list into 2022?”.
These goals may be short-, medium- or long-term goals, but by tracking your progress you will be able to identify whether you are making an impact.
It may be the case whereby by bringing your goals to your attention you realise that months have now passed, and you have not begun progress towards these goals – happens all the time right, life gets in the way and time passes by.
Here is a reminder of some common goals:
- DEBT – Managing or Reducing Debt
- SAVINGS – Building Savings for specific purposes
- INVESTMENTS – Enter the market, adjust current investments, explore opportunities
- LIFESTYLE – New job circumstances, New Expenses – children, car etc, Relationships status, Renovations
- BUDGETING –increase or decrease in spending and/or expenses. Planning for future expenses.
Why not speak to your adviser to assist in providing you direction and coaching towards achieving your financial goals.
The time will certainly pass and the future will arrive … so plant the seeds today and reap the rewards.