Back on Track….(financial edition)

back on track

By: Ms. J

Can you believe that it is the end of June? We only have 6 more months to complete our 2014 goals. Time flies, life happens and brain farts occur. Let us re-evaluate our accomplishments thus far and our goals for the rest of the year.

Personally for me, my savings took a hit as I have recently moved and I celebrated my mother’s 50th birthday in Cancun. They were both worth it; however, money was still spent. Luckily, I had mentally and financially prepared myself for this strain especially because they were back to back. If you are expecting a similar predicament, try to lessen the load by planning ahead and weighing all options before spending money unnecessarily. (See my previous moving post and travel post).

As mentioned previously, I am a goal oriented person so for me writing out everything that I want to do, researching the expenses associated to each goal then evaluating whether or not this can be achieved this year or later has helped me hone in on my key projects for the year. The lucky number is 4. That is still a lot but thankfully 1 of them does not need to be executed this year. Thus, if I have 4 projects to work on, I can conclude that my savings will not be as firm as I would enjoy at the end of the year, however I am expecting that the money I invest in my projects to yield great results and assets.

Here are my 5 steps to get back on track and hopefully they will be of use to you.

1. Find out how much I have saved

2. Prioritize my travels and projects for the rest of the year

3. Re-do my monthly budget

4. Get back to saving and establish a certain amount to save per month

5. DON’T TOUCH THE SAVINGS NO MATTER WHAT!!!

 

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