It’s the post-holiday lull. You don’t have to leave your comfy chair to get your brain ready for the New Year, with our four-day Money Fit plan. Yesterday we covered how to stay motivated. Today is vision.
Start with our year-end brain teaser. For the sake of argument, say you earned $100,000 in 2012.
Now imagine that roughly 25% of your income went to taxes and another 10% to your retirement account. That leaves $65,000.
Now say that your monthly nut—e.g. mortgage, utilities, car—was about $4,000. That’s $48,000 for the year.
$65,000 minus $48,000 leaves $17,000.
Now even if your actual numbers look quite different, when you chunk them up like this, you’ll likely end up with some amount left over. Granted, this is a thought exercise, but still: Where did your extra cash go?
Don’t answer that question!
Instead, apply a more thoughtful spending lens going forward. Start now, and choose one important thing you want your money to go toward in 2103:
- Bringing a babysitter on vacation, so you get a vacation
- A 10-pack of massages
- A braces account for the kids
- Flamenco lessons
What’s your vision for this year? You have to see it to make it happen.