In January, I spent time setting my financial goals for the year. I was pleased with them at the time, but to be honest, right now, I can’t remember what they were. So I went back to the column. In summary, the financial goals I achieved were: to pay 10% extra every month on the bond, to pay off the credit card every month and not accrue any debt. I feel good about achieving those financial goals.
However, here are the financial goals I did not achieve: towards the end of the year I realised we had slipped. We were spending more than we had budgeted for on fun stuff, especially eating out, we had slipped back into buying too much artisanal and gourmet food – at those outrageous prices – and I have still not started my regular Satrix payments.
So, what happened here? When I look at my financial goals I achieved the big ones, the ones that are actioned at the beginning of the month, like pay the bond, etc. But over the year our lifestyle slipped into more extravagance. I find this interesting; it almost feels like over 12 months the vigilance of ‘healthy spending’ slips.
But this is OK because I do these annual check-ins and goal setting – this process of reflection reminds me of my decisions and intentions and helps me refocus. So, the lesson for me is to always take the time to set my financial goals and reflect on them. This is probably the foundation of a healthy financial attitude.
And for my first column of next year, I am going to set my financial goals. I think that I will need to set the goals a little higher and challenge myself more!