Financial Must Do’s For 2011 – Do It!
2011. Even saying the words conjures up visions of the year where we all get it together. A brand new year, with no mistakes in it. This is the year, our year. No reckless behaviour, no over-eating, no taking too much rubbish from our misdirected employers. But what about our financial 2011? How can we plan to spend our year in a manner that will leave us financially sustainable and on the path to improvement?
Write It Down
Get goal-orientated. It’s time to know what you want, otherwise 2011 will just be another year that you meander through. It doesn’t have to be a huge goal, it doesn’t have to be many goals. It can just be one. Save some money for a house deposit. Get debt-free. Find meaningful employment that pays you properly.
People argue whether you should approach your day-to-day financial affairs before looking at the big picture, or the other way around. I don’t think it makes a huge difference when you’re planning how to spend your next year, maybe it’s important to work out your motivators first. You’re more likely to stick to the day-to-day if you’ve worked out why you are doing it. At least that’s how I function.
Break It Down
Once you know your goals, break them down into achievable short-term steps that will get you there. Want to pay off your debt by the end of 2011? How much will you pay off every month to achieve that? Whatever your goal, you’ll get there faster and with less pain if you can work out short-term steps to achieve. Beyond anything, as you achieve each short-term marker, you’ll begin to see the progress you are making and be able to stay motivated. If you’ve got a big goal and nothing to mark your progress, it’s easy to get disheartened and quit.
Get It Down
Now you know what you want and how you’re going to achieve it, you need to make it happen. This is where your day-to-day comes into play. December is an unusual month in terms of finances, so it’s probably not too bad an idea to have a specific budget for that month that takes into account Christmas shopping and other holiday expenses.
Being unrealistic about the holiday season isn’t going to improve your finances. Once real life starts again in January, you’re going to need a budget that will suit you for the remainder of the year. Once your budget has been comprehensively allocated, you need to start getting your spending down. It’d important to approach 2011 in a dual manner- your saving in one direction and trying to lower your expenditure in another.
Take It Down
2011 is your year. With a bit of planning and some discipline, you can achieve a huge goal over the 52 weeks coming your way. Aim to be realistic about what you can achieve, ensure that you appreciate the gains that you have made and don’t punish yourself for the slips that will inevitably happen. If properly planned, 2011 doesn’t have to be a year of a belt tightened to the point where you can’t breathe. It will be a great year, where you get some real changing done and get financially savvy and sustainable. I, for one, can’t wait.
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