We have just completed the first 6 months of the year. Just like a dental checkup every 6 months, you should be checking in on your financial growth.
Many of you have financial advisers. Have you gotten a report from them showing all of your investments and how they have performed so far this year?
Have you checked in on how your spending is doing so far this year?
I recommend you treat your personal finances like your business. I keep track of all my spending at home on Quick Books, the same software I use for the office.
It is nice to be able to see what I spent year-to-year on kids’ education, entertainment, insurance, and utilities.
After the midyear evaluation, you can adjust for the second part of the year.
Do you need to spend less, are you ahead of schedule, and can add some home improvements you have been meaning to do? Do you need to reconfigure your investments?
With college starting for my daughter in the fall, I now have to take into account college tuition for the first time. We have to know how we are doing in order to reach our goals for this year and the years to come.
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