With all the changes happening with the economy, social culture, and technology, 2018 is the best year to restructure and focus your wants and needs. The happier you can feel about yourself, the happier life you will have surrounding you.
Below is a technique to help you stay focused and motivated.
Materials needed: Small journal
Location: Quite place you will not be interrupted
1. Goals List:
On the 1st page of your journal. Be specific and write down a list of all your goals, wants, and desires. This can take some pondering, meditation, or whatever you do to relax. Don’t worry if you think your list may sound ridiculous to others, this list needs to be all about you. If you want to learn to yodel, write it down, who cares! What would you want if you could wave your magic wand and make it your way like Burger King? This could be about relationships, work, material things, create a habit of flossing 2 times a day, etc. Once finished, prioritize the list and date it.
2. Eliminate List:
Be specific and write down things you do not like about yourself or your life that you want to fix. Think about what you feel you are lacking right now, what makes you not happy? (This list can be tough to write and may trigger some emotions and if it triggers you to the point to where you feel you are in a crisis, please call 911.)
This list may be about not having a good relationship with your brother, not having enough money in savings, not having a college degree, cussing too much, etc. Don’t worry if your goal list is shorter than this list, it’s not abnormal. Knowing where your gaps are starts the process of problem-solving. Mel’s 3 A’s…….Acknowledging, accepting, and adapting. Once you are finished, prioritize the list and date it
3. Financial Budget:
Date your budget and write down everything you continuously spend money on and round up these figures. Such as mortgage, car insurance, cell bill, gas, etc. Then write down all your income you have coming in, round down. Subtract your Income from your expenses and look for ways to, “trim” down your expenses. Is the trip to the nail salon every 2 weeks necessary? Do I really need to have a gazillion data on my cell plan or can I cut it down? Do I really need to eat out every single day? When’s the last time you revisited your car insurance rates, did that speeding ticket disappear yet?
Update your budget at least 1 time per month and date it. Being financially secure will help build confidence, decrease stress, and will allow you to focus on your progression with your goals in your life. Financial security is needed to have productive mental capacity allocated towards bettering your life.
It is difficult to work on goals when you are worried about paying your bills. If you’re not financially secure right now, then this needs to be your top goal. A good rule of thumb is to have at least 3 months of your expenses in a savings account. So, if you have $3000.00 going out every month, then you need $9,000.00 in savings allocated to an emergency fund you do not touch unless it is an emergency.
If you are already financially secure, becoming more efficient in your spending will help you reallocate your money towards the cost of achieving your goals whether that is buying a new boat or getting your retirement savings higher.
Financial security will give you power in your life. The many years I have spent conducting a financial analysis for individuals and companies, I have always found a way to cut down costs on a regular basis, you can too.
Focus on these 3 areas at least 1 time per month or more and continuously strategize each item you are working on from highest priority to lowest. Some items will take longer than others and even years to accomplish. The more you review your data, the more focused you will be. It could be as quick as a 3 second review.
Once you have accomplished or eliminated something, put 1 line through it. This technique will build your confidence. The more you realize how much control you actually have, the more successful you will become by building resiliency for risk and/or fear. Try it out, it works.
Happy New Year 2018!
Till next time,
This strategy can be dense in subject matter, if you need more assistance in planning financial budgets and strategizing goals, please contact us or attend one of our community trainings, were here to help.