Hi there!
I know the calendar says it’s April, but for a lot of us, this is when the new year really begins. If Q1 didn’t go the way you planned financially, that’s okay. We’re officially in Q2, and there is still plenty of time to achieve all your financial goals for the year.
The first step is simple. Go back and double-check your budget. Ask yourself – how realistic was it compared to your actual spending?
We set goals in January, but life happens. Things change.
- Have there been any life circumstances that have changed?
- Have you lost your job or increased your income?
- Have you come into a new source of income?
- Are more expenses popping up than you expected?
These changes impact how your money moves. Yet, many of us keep going on autopilot without checking whether our finances still match our lives. This is your reminder to pause and reflect.
By the way, we walk through this exact process in a way that’s personalized to you in my accountability group.
This is where we hold space to talk honestly about what’s changed and how to move forward. My dad, The Finance Dad, also joins us regularly and shares the real-life wisdom we all need during moments like these. This is the kind of advice I wish more people had access to early on.
Time to readjust
Once you’ve reviewed your budget, the next step is to revisit your goals for the year. See how you need to adapt your finances to reach that goal.
Let’s say you wanted to save $5,000 this year. By the end of Q1, you should have saved $1250. If you’re behind, don’t panic. You might just need to readjust that amount so it’s actually realistic moving forward.
Automating your finances is a game-changer here! Set up automatic transfers on payday to your savings accounts before you even see the money in your checking account.
Even automating 5% can make a huge difference by year-end.
These are the kinds of small shifts we talk about in the group all the time. The Finance Dad loves to break it down in a way that’s easy to follow and apply right away.
Be realistic & plan ahead
I cannot emphasize enough the importance of being realistic with your goals. Different seasons call for different spending.
Forecast forward. In Q3, which is summertime in North America and Europe, most people typically spend much more than they would during the winter.
Ask yourself this question. Do you have to adjust your budget now or proactively save more so you can spend more when summer is here?
One way to do this is by taking a moment to review your current expenses. Where is your money going that isn’t aligning with your priorities anymore? Those small daily coffees or unused subscriptions add up quickly! And that’s money you could put towards your summer goals.
You don’t need to overhaul your entire life – just make small tweaks that reflect your current situation. That’s how you keep winning.
If you’re not sure what those tweaks should be, you’re not alone – we help you figure it out together in my accountability group.
Until next time, |
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