3 things to remember when you plan your 2014 finances

Author: Russell Smith
December 18, 2013

I like Christmas but I love the New Year period.

Every year, I will spend approximately 3 days (22 hours split over the Christmas/New Year period) planning the new year.  I review my goals set in the previous year and my achievements against these goals.  I then set SMART goals for the next year and filter these goals to the top 10 and then the top 3 across a whole range of life categories.

So, if you are in the mood to think about what you want to achieve next year in your finances, here are 3 things to remember:

1. Build your life plan first and then your business

Most people set goals in their business forgetting that they have a life outside of it.  Its important to design your perfect life first and then put your business in it rather than the other way round.

2. Be realistic

You can only achieve a certain amount of things in a year.  The books will tell you that it is possible to change your entire life in a year (or 30 days, or a week!) – it isn’t.  365 days isn’t actually much, its simply 4 quarters of 13 weeks – which goes by quicker the older you get (by the way, to your brain it really does go quicker because it is a diminishing proportion of your overall life).  So be realistic with your goals.  You’ve heard the phrase – ‘shoot for the stars and you’ll get the moon’.  Yep! You won’t!  You’ll give up and get bored of achieiving such an impossible goal – keep your goals realistic!

3. Have a reason behind the financials

You may think you want to earn over £500,000 next year – but do you?  Do you really?  Do you know what the cost is, to your time, your life, your family.  Whatever the number is,  you’ve got to be emotionally connected to it.  Put simply, if the number gets you out of bed at 6am EVERY DAY then its the right number, if it doesn’t – its the wrong number.

Happy new year!

 

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