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Day 4: Don’t Fear the Digits Comments

  • By DailyWorth Team
  • December 31, 2012

Creativity

The New Year is rising. And you’re ready for a fresh start. Our four-day Money Fit plan is designed to get you scrubbed and ready.

Day 4: Become a numbers gal.

Studies show that checking your numbers regularly—regarding your weight or your wallet—can help you stick to a goal.

But there’s something stomach-twisting about confronting numerical reality. There’s always a judgment attached. You’re ahead, you’re behind; it’s too much, it’s not enough.

The benefit of checking your financial plans and progress regularly is that the anxious feeling goes away—replaced by a pleasant sense of control. Especially if you have a system, like this chart.

Identify what you want to improve; get specific about the goal; check your progress at the same time as other tasks.

AREA TO IMPROVE GOAL CHECK PROGRESS
Personal savings Make sure you can cover a vacation, celebration (or emergency). The same day you pay your mortgage or rent.
Retirement Make sure your portfolio is balanced, contribs are steady. Two to four times a year: When you pay property or estimated taxes, or car insurance.
Planning Update your will, power of attorney, insurances, or 401k beneficiaries. Whenever there is a major life change (job, illness, death).

 

Punch that ticket. Do you have a system for tackling financial chores?

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