You have assessed your financial state of affairs, set financial goals, identified different courses of action to achieve the goals and then created a financial plan. You have done an excellent job but this is not the end; in fact, just the beginning. You have to continue the good work you have begun to be in charge of your financial affairs. Here are some steps you should definitely take –
Track your finances regularly – Once the goals are set, track spending and income and evaluate if there are changes from what is in the plan. There could be unexpected expenses or some windfall gains. In such cases, these should go back as inputs to the plan and it should be updated as required.
Re-evaluate your plan – Whoever said, ‘The only thing constant in life is ‘change’’ was absolutely correct. We change our jobs, get married, get the pink slip or decide to do social work for a year by taking a sabbatical. All these events affect our financial situation. Any major event in life has to be taken into consideration in the financial plan and the plan should be re-evaluated and changed accordingly.
Invest in you – “You” are your best investment. Investing in yourself will improve quality of life in all aspects. You have to take care of yourself and develop your personality in different aspects.
- Upgrade your knowledge – You can improve your skills by taking up higher education or doing relevant certifications. You should participate in seminars, webinars and conferences on different topics so that you are aware of the world. You should read newspapers, magazines, books and articles to keep abreast of current trends, advances and news.
- Nourish your mind and body- You should look after your mind and body as they say health is wealth. You should explore new things, try out new activities, travel and see different parts of the world, socialize with people from different walks of life, play word games, number games, strategy games and outdoor games if possible. Just like you take care to service your vehicle at regular intervals, your body should also be taken care of. You have to go for regular health checkups, take adequate rest, eat healthy and also take care of your appearance which will make you more confident.
- Awareness in Personal Finance – You should take efforts to be up to date on financial matters. You should read books and articles on finance, wealth creation, and entrepreneurship. Try to read books about successful people who made it big by starting from the scratch. Such books will help you learn many lessons on growing your wealth. Reading books and articles on personal finance also enable you to be aware of why your financial plan is the way it is and also take steps towards making it better and achieve your financial goals better.
So why wait? Start today! These steps will help you to secure your future financially and make you a more interesting, versatile and healthy person as well. #gettingyourich