KJ: How do you find financial faith? Those times in your life when you’re struggling with “is it enough” or “am I on the track that I need to be?” With so many unknowns – especially in your more long-term goals like financial independence, children’s education, etc. – sometimes it can be difficult to keep perspective on the here and now. It’s this moment that you’re living in now, so learning to periodically take a step back and review your progress is important.
AJ: We’re only four months into this year, and it has already been a doozy. Sometimes I get so caught up in moving forward that I forget to acknowledge where we’ve been, which is a constant theme in my life.
Do you find yourself, like me, in a perpetual state of planning for the future at the expense of the everyday? Someone please say yes 🙂
Kirby outpaces me beautifully when it comes to really just living in the moment, trusting that we’re doing the right things for our future and that we’re on track to achieve our goals. Me? I like to track every time we don’t put as much into savings as we planned to, every time we go over budget on any given category and every time we have an unexpected expense. Clearly I enjoy that feeling of constant panic and always feeling like I’m chasing my tail, right? Nay.
I know I’m already chalk full of New Years Resolutions and that it’s no longer the new year (hello, Q2!) but I am going to actively resolve to find more financial faith. I have no trouble believing that the money we put into our 401(k)s, IRAs and mutual funds will be whatever they’re going to be but what is it about those variable day-to-day things that bog me down? Here’s my plan for combating my lack of financial faith and trusting that it will all be okay:
1. Create a goal
– Not all goals are met, accomplished, defeated, whatever you want to call it. Sometimes goals are just a place you look at, consider and keep walking past, but they’re important to ensuring you’re paying attention to the state of your business.
– Write. It. Down. Whether your goal is to save an extra $100 a month, pay down debt, or like me, make yourself whole on areas where you feel you’ve over spent, know what that number is and keep it somewhere that you regularly will see it.
2. Create a plan
– Create a timeline upon which you hope to achieve the goal. Whether the goal is realistic or not, give yourself check points and guardrails. Saying I want to recoup what I’ve overspent by 2018 isn’t a huge accomplishment but it keeps me from slipping into the abyss of things I MEANT to do.
3. Take action
– What’s a goal without concerted effort? Track what you spend, track what you save, track what you DON’T spend, track what you DON’T save. Awareness is key.
4. Celebrate the successes
– This is the most important step I always forget to take. Achieving wealth of any magnitude is a process, and creating a strong financial foundation is a huge accomplishment. Pat yourself on the back, say the serenity prayer and celebrate!
KJ: One of the important parts of setting goals is taking time to step back and reflect on the successes (or failures). Sometimes it’s a reflection on what you could have done differently, and other times, you get to reflect on what you did correctly. Goal setting isn’t about just setting unachievable goals and never accomplishing them, it’s about a process and what you do along the way is just as important as the end goal itself.
- What do you do to keep your goals in front of you?
How do you track your goals progress?
What do you do to reward your successes?
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