Don’t Leave the Year to Chance…. Decide now!

One of the biggest money mistakes is not having a goal. If you have a goal you have a shot of getting there. If you don’t have a goal you end up where you end up. You would never go on vacation without a chosen destination and a plan, even if the plan were to have no plan. You would never start a business without a plan and goals.

So why do it in your personal financial world? Grab the reins, take control…it’s time to start deciding where you are going. It’s time to declare to the Universe, this is what is happening this year!

My husband and I have a yearly team meeting to set goals. You can have a yearly team meeting with your spouse, significant other, business partner, best friend or by yourself. You want to have it as close to January 1st as possible. Today? No matter what month it is, it is never to late to have your yearly team meeting.

The yearly team meeting has 2 purposes: Look at the results of 2015 (previous year) and set goals for 2016 (new year).

Here are some of the topics to discuss:

  1. How much income will each of you produce this year?
  2. How much of that will be passive income (from investments, mailbox money)? How much active income (you have to work for it)?
  3. How much of that money will you invest? Real estate, stock market, private business, 401K? What is your diversification strategy?
  4. How much will you put in the College Fund?
  5. How much will you tithe? Tithing is the best kept wealth building secret in existence. What you put out comes back 10x. Need I say more?
  6. What classes, seminars, and workshops will you attend to invest in you?
  7. Are there any major health expenses that need to taken care of this year?
  8. Are there any major home repairs or remodeling this year?
  9. Are there any car or toy purchases?
  10. What major vacations will you take this year?
  11. Do you want to set any other goals? – physical, spiritual, career, emotional, relationships.

Here are some recommendations for successful team meetings.

  • Surround the meeting with things you like. Go to your favorite brunch restaurant afterwards. Make a cup of your favorite tea. Open a bottle of wine.
  • Come to the meeting prepared. You need to have the previous years results and your thoughts on the new years goals.
  • Establish partnership with your team meeting partner. Let’s work together, we are on the same team. Let go of being right.
  • Set a time limit and stay on point.
  • Have monthly team meetings to inspect what you expect (check in) to your goals. Are you on track?
  • Post your goals where you will see them often.

The best time to plant a financial tree is 20 years ago, the next best time is today. Plant your financial tree today! Get on the same page. Get in the conversation. Get into partnership.

Renee Cermak
“World peace rocks and so does being rich!” Mike Dooley

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