2015 is almost over. Another year is about to come. Aside from Christmas and New year celebration, there are some important areas in our life that we should check this year-end time. Our life goals. Including our financial goals.
Why it’s important to visit and re-evaluate your financial goals before year-end? Let’s see.
Every new year, like many others, you may have set life goals that you want to achieve before the next year or in the future including your financial goals. It is common to many people especially to Filipinos. We call it “new year’s resolution“. Sad to say, the excitement and discipline are fading or completely gone as the months and time go on.
As always, many promises have been broken.
You shouldn’t act like that. We know that it will lead to nowhere. One way to re-gain the excitement and pump yourself with inspiration is to re-visit and evaluate your life goals. Inclunding financial goals.
Check your list of goals again that you have set last year and see what are the things you have accomplished. What are you missing and what are the reasons you failed. A reality check as what other people say.
By doing this, you can plan and take massive action next year and work for them. That’s for all your life goals in general. In terms of your financial goals, here are some of the important reasons why you need to re-evaluate your financial goals.
6 Reasons why you need to re-evaluate your financial goals
1. To know where you are
It is important to check what you have achieved and what’s not. By knowing this, you can see where you are right now and how much time it take to get there.
You can estimate a timeframe. Or build better plans.
You’ll gain excitement and inspiration.
2. To see what’s working and what’s not
Aside from knowing the timeframe needed, you can check the reasons why you failed and the reasons why have achieved the others. What plans worked and what didn’t.
If one of your financial goals is to build an emergency fund this year, see your progress by visiting your goals and track what happen with in the year.
Are you able to follow your plan? If yes, good you’re on track. Continue what you’re doing.
If not, check why. Track why. It’s ok. Don’t feel guilty about it. Instead, write the reasons why you’re not able to achieve it and learn from them. Those are “golden lessons” that you can apply in your journey that can boost your growth. Not just financially but in other aspects too.
3. To check if it’s still what you want
People change. Admit it or not, some of your financial goals or life goals in general are changing too. By re-evaluating them, you can see what are the things that you set before and not willing to continue it anymore.
Maybe you need something bigger or maybe it’s not important for you anymore. No right or wrong answer and only you can tell.
4. To prioritize what’s important
Another important reason why you need to re-evaluate your financial goals is to check their priority. Maybe there were big changes in your life this year and you need to prioritize some of your financial goals over the other.
Or maybe as mentioned on #3, you don’t want them now and realized something better for yourself.
Whatever your reasons are, prioritizing what’s important is one of the key in achieving any of your goals. Set them by priority and work on them one by one. Even small step makes difference. Don’t give up!
5. To adjust them
By doing the 4 steps above, you can now adjust any of your goals according to your preference. I suggest adjust them by priority of importance. Work on what’s most important for you first then move on to others.
There maybe some changes in your life and you may need to adjust some of your financial goals. A good example is a wedding or a child born. These are life changes that can affect your life goals in general and re-evaluating them can really help.
6. To re-gain inspiration and excitement
Another good reason of visiting your financial goals and life goals in general is to re-gain inspiration and excitement. As I shared in setting your financial goals article in this blog, your goals are your map where you are heading.
Those are the things that matter to you and the things you love. The life you envision for yourself.
By regularly checking them, you’ll gain the inspiration and excitement back to continuously work on them as hard and smart as you can.
We are human. And one of the things that pumped us is inspiration and motivation. Seeing those goals you’ve set before can clearly motivates you and ignite yourself again on fire!
These are the 6 important reasons why you need to re-evaluate your financial goals and life goals in general. I hope this has been informative and inspire you a little bit. If you have something to add, share them on the comment section.
Again, ignite yourself again on fire! Cheers!