It’s June already, but doesn’t it feel like you just made your New Year’s resolutions? We are halfway through 2016, so now is a great time to check in with your goals and make sure you’re hitting the mark.
Assess and Refresh Your Resolutions
Take a look at your list from January and see where you stand now. Did you want to save a certain amount by the end of the year? Organize your tax information better each month? Kick off a budget? Put money aside for a vacation?
Whatever your 2016 money goals were, compare where you are now to where you hope to be at the end of the year. This is your chance to update your goals to fit your life six months later. Maybe you’re making more, saving less or taking a different route than you had originally planned, so you might need to draft some new goals to fit that.
If you don’t look at where you want to be throughout the year, it’s much easier to let those goals fall by the wayside. Checking in gives you the chance to get excited about your goals again so you don’t lose steam.
Consider Your Process
After looking over your goals, you may realize that you’ve fallen behind because of a problem with your process. Maybe you’ve been overspending, not funneling enough money at your debt or forgetting to study up on investment options. It could be that your goals don’t need to be re-evaluated; your process does.
One of the biggest mistakes people make when planning out their resolutions is not breaking them down into actionable steps. If you’re falling behind on your goals, try implementing some practical steps now to get back on track. Format your goals in the SMART method – specific, measurable, achievable, realistic and time-bound.
If you give yourself a more solid road map to where you want to be, you are much likelier to get there. At the halfway point of the year, you already know what has and has not been working, so use that information to your advantage.
Seek the Help You Need
If you’re falling short on a fitness goal, you might try working with a trainer to pinpoint your strengths and weaknesses and help you overcome your obstacles. The same goes for your finances. If you’re hitting a plateau or running into the same problem over and over again, it might be time to work with a financial planner.
A planner will look at your current financial “health” and help you draft a plan to get you where you want to be. You don’t have to be rich to work with a financial planner, just like you don’t have to be a bodybuilder to hire a personal trainer.
No matter what life stage or income level you’re sitting at currently, there will be a financial planner who is right for you. You might need an ongoing plan or a quick meeting to get your plan in action, but just taking that first step can make a big difference in your money goals down the line.