The next time I followed a regimented financial plan was when saving for my transition from corporate life into the world of entrepreneurship. Having a systematic approach to my finances seems to work well for me. So why not make it a permanent practice?
I want it to become a lifelong habit. So I hereby declare that Fridays will be known as "Financial Friday." Each week, I'll do a financial check-in on my goals & progress. Though I haven't yet solidified the details, Financial Fridays will encompass some of all of the following:
- Complete a financial review of the week's activities including spending, savings, earnings, etc.
- Reconnecting with my current short and long-term financial goals.
- Identifying clear steps in moving towards those goals and scheduling specific actions into my week.
- Utilize Friday to learn from others who've achieved their financial goals by watching YouTube videos, reading blogs, etc.
- Plan financially for significant expenses such as trips and other large purchases.
- Create strategies to address mid-range debt (student loans, 2nd mortgage).
- Rewarding myself for achieving certain financial milestones.
That's the gist of it. As the weeks go on, I'll probably tweak things here and there to refine the process for maximum impact.
Honestly, I'm super excited about Financial Fridays 'cause I already know that whenever I focus on an outcome and create a solid system for getting there, I always make HUGE progress. Starting this process now will totally alter the course of 2017 (financially speaking).
When I say "focus on" I'll be doing much more than just thinking about my goals. I'll create spreadsheets, I'll use tools, seek out online mentors. I'll do whatever it takes to get to my outcome. Since this will be a lifelong habit, I'm ok with making slow steady progress in some areas. I'll also challenge myself to make big moves & required sacrifices needed to bring my vision into reality.
If you're not quite happy with your current financial situation, pick one day a week (or bi-weekly) to make small changes that will move mountains. It's time to put our financial health at the forefront. Ultimately, we all want to achieve financial abundance, and this is one practical step that will get us there.