Often we reflect on our experiences and lessons of the past year. I find that to be a useful and healthy check-in on what matters most to me in life.
Typically we also look ahead to exciting possibilities.
That’s what makes the start of a new year the ideal time for a quick, high level review of your financial plan to ensure you are still on track.
One of the key inputs to your financial plan is those life experiences that matter most to you – your life goals.
At the same time as you’re resetting your life goals ask yourself the questions:
- Have I already incorporated this goal into my budget?
- If so, is my savings plan on track to having enough money when I need it?
- If the goal is not in my budget, what less important goals can I reallocate towards achieving this goal? (This article may help.)
By adding a few extra minutes to your new year goal setting you can ensure you remain on track to having enough money for what you really want in life.