Being the Director of Getting Things Done!Fiscal Fitness Clubs of America
That’s your title this year!
You have taken on the challenge of being the “Director of Getting Things Done”, so you can get what you want from your money! Now, every “Director” needs a good assessment of where things stand and what needs to be done. After that, prioritization becomes important.
Last month you got your paperwork organized, and that is good because you’re going to need to use that paperwork to complete this month’s projects:
• Copying and renaming your Fiscal Fitness Playbook for 2016
• Completing or updating your Fiscal Fitness Playbook 2016
• Reviewing last year’s budget
• Evaluating & determining changes for this year
(While this blog references the workbook that Fiscal Fitness Clubs provides to it’s members to make it easy to track their finances, you can create lists like these for yourself.)
The critical pages to be completed in your playbook are:
Here are the benefits of updating these pages:
1. You will be clear on what you want from your money. (YOUR GOALS)
2. You will be able to see your progress or lack of it by what has changed in your net worth over the last year. (NET WORTH)
3. Your list of accounts and advisors will make it easy for you (and your coach) to address issues throughout the year, AND have the extra benefit of being prepared when life throws a wicked curve ball and someone else needs to step in on your behalf. (ACCOUNT LIST & ADVISORS)
4. You will be able to see where you spent your money last year and make choices on where you want it to go this year! (THE PAST & THE PLAN CASH FLOW)
5. You will be able to estimate and build into your budget those non-routine expenditures easily. (MONTHLY/ANNUAL PROJECTIONS)
6. Your future assignments, retirement projections, insurance analysis will all start with the information here!
The first week of this month is dedicated to getting the first 4 tabs completed (list of your goals, net worth, account list and advisor list). By looking at your year-end statements and permanent files, you should be able to quickly find the information you need for most of these entries. Email your coach or join the class if you need suggestions on how to find the value of your home or what your employee benefits really are. Our next virtual club starts on February 5th and will run Fridays from 12:30-1:30 p.m. EST. If you want to join, contact us at firstname.lastname@example.org.
Later this month, we will tackle the budget stuff and what you can learn from your net worth statement.
But for now, “Director of Getting Things Done”, you’ve got a job to do…so you can do your job!
Estimated Time: 2 hours
Estimated Benefit: Save you that much time at least over the year and a much greater chance of getting what you want from your money!