Golden Rules

How did every one do on their goal setting? I hope you took honest thought to where you want to be in the future and what you'll have to do to get there. I know that if you don't have specific goals written down where you'll see them often, when times get rough, you may fail...

Here are the golden rules of financial planning we're now going to follow to set our selves up to succeed!

1. Develop a list of your goals. Start with the short -term goals and then expand your list to longer-range goals. Update and revise your goal annually.
2. Develop your own cash-flow statement monthly or quarterly and compile them into an annual statement each year.
3. Calculate your financial ratios periodically and use them to assess your financial progress
4. Develop a Balance Sheet
5. Develop specific financial strategies so you can always keep a balance between spending and saving.
6. Start an uncomplicated personal financial record keeping system that meets your needs!

I will cover 2 of these next week and the last 3 the following, so if you don't understand all the terms or have the resources, worksheets or know how tune in next week! (we have already done step one and set our goals!) I hope you'll stick with me and together we'll do something great. It won't come all at once, but run the mile one lap at at time and you'll finish!