Ep #37 Now that summer is long gone and the fall season is kicking in, what does your after-summer September reset look like?
Before the year ends, September and October are two perfect months to perform a reset of your goals and start thinking about what you wish to accomplish before the holidays come. Here are three tips to crushing your end-of-the-year financial goals!
1. What fills your joy tank? In other words, what are things in your life that bring you joy? For example, it could be that cup of coffee that you get from your favorite local coffee shop in the morning. I always hate it when financial advisors say, "If you wanna be rich, don't spend money on frivolous things like a $7 latte. Drink coffee at home." But what if that latte brings you joy? Or alternatively, what if visiting your favorite cafe and working or studying there for an hour or two is what brings you energy? Why would you want to take that away from yourself?
As a real-life example, someone I was talking to mentioned that she's never gotten her nails done, but would like to accommodate and make room for that in her budget. So she did just that-- allocated enough money in her budget that she could get her nails done every few weeks. And it brings her joy every single time.
Therefore, make a list of things that you would like to keep in your budget that keeps you motivated towards your goals. These don't have to be daily or even monthly things, but could rather be one-time short-term or long-term goals, like a vacation, new kitchen appliance, or even a new electronic!
2. What doesn't serve you anymore? This next step is to ultimately do a budget audit-- essentially, what are some things in your budget that just simply doesn't bring you joy anymore, and therefore you no longer use or need?
Another real-life example, someone I spoke with told me how he canceled his DVR subscription which was about a little more than $200 per month, and he wasn't using it anymore. Therefore, he canceled his subscription and ultimately followed tip #1, and used that money to fund a hobby he genuinely enjoyed, like golfing!
In practice, this could be cancelling your gym membership that you barely use anymore, and utilizing your free time to go outside and exercise by hiking, running, swimming, or simply walking your dog.
Just open your bank account and make a list of things that are coming out automatically out of your budget that no longer are useful to you. And then with that money, you can decide how that money will go to paying any debt payments and to something that fuels your joy tank.
3. Find an accountability partner. It is so important to choose and to be selective of who your accountability partner is. Choose only a person that has your best interests at heart. Then, when you find that person, be sure to be transparent; tell them what's going on, the struggles that you're going through, your goals for the future, your wins, and most importantly, what they can do to encourage you.
My accountability partner is my husband, Alden. He's my encourager, the one who's constantly telling me
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