Why Should You Figure Out Your Finances for 2015?
My girls are always asking ‘why?’ and much of the time I’m not able to provide a good answer. The question this morning was about the colour of planets, specifically Neptune. I was able to pin it on gases but couldn’t be any more scientific than that.
However when they ask ‘why’ about finances, I can answer their questions and here are some reasons that may resonate with you:
- You’ll sleep better at night
- You can work towards achieving your goals
- Greater financial fitness = greater options
- You’ll be in control of your financial future
Sure there are lots of reasons (aka excuses) to avoid or delay it but if you start slowly and do it well, you will make a huge difference to many areas of your life.
And there is no time like the start of a new year to begin!
The best place to start is at the beginning. What 3 goals do you have? You can certainly list more than 3 if you like! A bigger place, vehicle, reduce debt or a retirement plan? Put them in priority order but note any that a long term (5 years or greater) because even though retirement may seem a long time in the future, the advantages of starting to save now are huge.
If you are keen and want to jump ahead, get started on the next step by gathering your financial information to document a starting point – your financial picture. Using credit card, bank, savings and debt statements note your monthly net income, monthly expenses and larger/annual expenses on one sheet and on another note the balances of any savings and debts.
Posted: January 7th, 2015 under CEO of the House, Money & Lifestyle, Money Savvy Tips.
Tags: Budget, Dear Piggy Bank, Financial Planning, Money & Stress