Statements to Answer and Get You Thinking

Sometime we need a little nudge, some motivation to get our engines pointed towards painting a picture of our retirement future.  The following statements can assist in setting the parameters for both our plan and individual action plan.

1. I have a definite strategy to SAVE.  ___
2. I have clearly written down all of my financial goals for retirement. ___
3. I have a spending plan for all sources of income. ___
4. I have a plan for reaching my goals for retirement. ___
5. I always review my goals before spending. ___
6. I have clear plans as to how I will spend any unobligated funds before I spend impulsively. ___
7. I have a budget that I monitor now and will continue monitoring my budget in the future. ____
8. I know exactly how much money I can spend on clothing monthly and yearly. ____
9. I know how much money I can spend for eating out and entertainment. ____
10. I plan ahead for times of big expenses, i.e., replacing the furnace or AC unit, purchasing a new car, major car repairs, home repairs, etc. ____
11. I have a plan in place for unexpected expenses. ____
12. When I must make a major purchase, I do comparison shopping.  I test the market. ____
13. All of my purchases are part of my plan for reaching my retirement goals. _____
14. I set aside some money to spend as I please, only after paying myself first (PYF). ____
15. I have emergency funds set aside equal to at least six months of living expenses. ____
16. I have begun a sensible debt reduction plan. ____
17. I pay off the entire monthly balance due on my credit cards to avoid paying interest charges. ____
18. I know the difference wants and needs and I prioritize needs over wants. ____
19. I know the rate of interest I am receiving on all savings accounts. ____
20. I follow and monitor the rate of return on my investments. ____
21. I understand what my investments mean and the risk associated with them. ___
22. I belong to a credit union to reduce transaction costs in conducting my financial affairs. ____
23. I determine the amount of money I can spend on a car and secure financial for that amount before selecting a car. ____

Give yourself one point for each item you have already taken action on.  Add up your score and see how far you need to go to put your plan of action in motion.

P. S.  Always Remember to Share What You Know.

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