Step 11

The last one! You have a plan and you’ve put the wheels in motion. Don’t forget to set a reminder for yourself to review your progress. This will take a small amount of your time but I think it’s worthwhile.

1. Check the balances of your assets and debts and compare them to what they were at the start of the year.
2. Calculate your net worth.
3. Record your monthly income and expenses (actual) against your budget.

Monitoring your progress against your plan doesn’t have to be done on a monthly basis but perhaps quarterly or every two months when you’re starting out.

Take a look at the areas where you notice you are doing better than your plan or not meeting your plan and ask yourself ‘Why?’. Was it a single and infrequent blip or not? What can you do to address any issues sooner rather than later.

Good luck and we’ll check back in a couple months!