Your Financial Score Card

Reminisce back to exactly one year ago from today. At that exact moment, how much money did you have in the bank? What did your investment portfolio look like? Did it seem easy or difficult to meet your monthly financial obligations? Where you more determined to make financial improvements back then or not? What were some of your sort term goals? How many of them have you reached?

I would dare to say that many people walk around frustrated about their financial score cards. However, if we answer these questions truthfully, many of us are not worried that we haven’t improved financially. We are more worried that we didn’t follow the financial plans that we committed to at this time last year.

Today, I challenge you to sit down with your spouse or close friend and make some financial commitments today. Maybe the commitment will be to save at least 5% of your earnings. That commitment could be to stay on budget throughout 2010. Another commitment could be to constructively use your time. Be determined to not have any of your time wasted. Instead, use that time to earn additional income. Everyone’s commitment maybe different but it is definitely needed. Make your commitment today and stick to it tomorrow.

Positioned to Overcome

We now have access to the best financial information via the Internet. No longer are we subjected only to financial advisers who urge us to invest in items that will give us minimal gains at best. In turn, the commission received for misleading us takes care of their personal monthly financial obligations. However, sometimes there is so much information to process, what does one do?

I suggest we develop an investment strategy instead of looking to discover a financial vehicle to garner the greatest return. Are you looking to invest long term, maybe three to five years or longer? Are you seeking a quick fix? Or maybe you are looking to position yourself to recover just ahead of the market. Whatever it is, I suggest taking some time to think about what you, that’s right – YOU, are looking for.

In any event, a strategy must be developed so that your personal financial goals can be reached.