Evaluate the Past
An important part of planning for your future is to evaluate the past.
Ask some questions:
- Am I happy about how I am earning an income?
- Am I satisfied with my income?
- Have I consciously tried to stay healthy?
- Have I been considerate and encouraging in my relationships?
- What have I done to learn about saving and investing?
- Have I made progress in saving and investing?
- Do I have debt that could have been avoided?
- What have I done to improve my living conditions?
- What have I done to add new skills and to be able to do my job better and give myself more value as an employee?
- Have I considered any side gigs to pay off debt faster or save for classes to make self-employment possible?
- Do I exercise enough to add strength and endurance to my body?
- Am I controlling my spending and working on a budget to keep my expenses below my income to make saving possible?
These are reflective questions that may not have easy answers. In fact, you may not have enough knowledge to fully appreciate the value of some of the questions. However, they are worth considering!
Time to Consider
I have found that the week between Christmas and New Year’s Day is a good time for reflection.
Though you may have had time with family, after a rush to buy gifts and sharing those gifts, you can then relax and reflect.
The new year coming may mean little to you other than to change calendars. However, if all is going well for you, you may not need to ask, “How can I make next year better than this year?”
Reflect on that question. Then, look at my suggested list of questions. And those questions will raise other questions in your mind. Remember to reflect, not to panic. Your mind will need time to process the possible options that come to mind as answers to your questions.
By considering what options may be in front of you, you can build some simple goals related to those options. You will give those goals value over time.
To some, these may be called Resolutions. However, Resolutions fade quickly, and Goals will give you a purpose for each day.
Hope for a Better Year
If your old habits have not taken you to your expected results, then, you need to consider what habits need to change.
Making a list of goals and reviewing them often to update will give you reason to consider what you need to do, to change, and to plan to accomplish those goals.
Again, if your life plan is working well, then, you can ignore my friendly advice. If you have mounting debt, insecurity in relationships, and a job you are not happy with, you must consider what you can do to make positive changes.
Don’t Ignore Your Money
I know there is more to life than money. There is giving to help others, although having money to give will help even more. There is the importance of family relations, which usually do well with less stress over financial stability. Then, there is your health, which usually benefits from eating and sleeping well, free from anxiety over debt and other financial concerns.
So, don’t ignore your money! Give your personal finances enough attention that they become a help and not a hindrance with the other elements of your life.
I know there are many more enjoyable things to do than dealing with money matters. However, you will enjoy those other things more if you can afford them!
Then, Now, and the Future
You cannot change the past. You only have now to act. And your future depends on what you do now.
Will you allow each day to pass and accept what happens? Or will you do what you can to make each day provide a better future for you and your family?
My hope is to help you build a better mindset for money. I will do what I can to help you. But you must act!
Your actions, your reflection, your goals, your planning will be the tools for building a better future for yourself.
Money is tied to time. Saving now until there is enough money to invest. Then, investing will compound earnings to add to growth. Early investing becomes bigger over time than waiting to do it later in your life. A study about investing will reveal that fact early on.
Again, you must act now to learn how to save and how to invest what you save. Your future will be defined by your actions now. Act wisely!
Calm Down, Then Act
I know reflection on events that were disappointing can be upsetting. You cannot change those events. But you can control how you react to them.
Take a deep breath. Calm down. And consider how you will deal with those conditions going forward.
Anger is not productive. Forgiveness relieves you of retaliation, which would only hurt your future relations and financial stability. Those are your disappointments. So, I cannot be specific about my advice. However, I have had enough of my own disappointments to understand how best to react to them.
Again, you cannot change the past. You only have now to act. And your future depends on what you do now.
Taking time to reflect before the new year will be important. This is your opportunity to reflect on how you can build a better mindset for money!