WHERE ARE YOU GOING FINANCIALLY?

Most couples don't seem to be going any place. If you ask them what their financial goals and objectives are they usually give a nervous laugh before answering, "Just keeping body and soul together," or "We're keeping the wolf from the door," or "With the help of our friendly Bank Manager we are making ends meet."
It's a tragedy that money dominates our lives to the extent that there never seems enough to satisfy our desires. The more we have, the more our needs and wants close the gap between income and expenditure.
So the first question I wnat to ask you is:
Where are you now financially?
It can be quite a frightening question because in come cases it will reveal how unpleasant or serious the problem really is. Indeed many people are totally incapable of answering that question. They literally don't know how to find out.
The same question could be legitimately asked of many small businesses. Some don't realise that they are in a deteriorating situation until it is too late for a rescue operation. Others have a hunch that all is not well and hope against hope that some miracle will hapen to reverse the situation. The only way to answer that question is to spend sufficient time to work out the present financial situation, "What I own minus what I owe."
The next question is:
Where are you going financially?
You and your family are on the journey of life. A journey begins with knowledge and proceeds with action. Knowledge of where you are is essential. Knowledge of where you are going is just as vital. With the two in mind you take action. The answer to the second question is to work out a budget for the first twelve months. A budget plan is the proposed expenditure and income over the ensuing year that will give a weekly surplus or shortfall. It is as clear a picture as can be worked out in advance of how objectives will be reached financially. It's like a road map before a journey in a car.
Once a budget plan is developed, the discipline of sticking with it can be played like a game and enjoyed rather than a gritting of the teeth in sheer determination. The basic thrust should be adhered to but adjustments should be made to maintain flexibility. Remember that any action begins with the first step.
Ask yourself:
1. Where do I want to be financially? (What are my goals?)
2. Where am I now? (What is my Financial analysis?)
3. How will I reach my goals? (What is my budgeted Surplus to enable me to achieve my goals?)