February 2018 Newsletter!Carol Craigie, CFP®
Can you imagine going on a long-distance road trip without ever checking your GPS, gas gauge or indicator lights? Would you set out on an ocean trip with no communication, no compass, no support plan? Would you take off on an airplane without a safety check, checking the fuel, and having a flight plan? Yikes!
Finances are a long-distance trip and at least once a year, you need to stop and check your financial GPS and readiness of the vehicle. That’s what we are doing this month. Taking stock of your resources, goals and spending plan so you know you’re on track. If you got your papers organized and have completed the Taking Control Classes, this assignment will be a piece of cake! If not, it may take you a little longer but it’s well worth the effort…and of course, we’re here to help. In January, the challenge was to update and organize your paperwork and financial files. One of the benefits we mentioned is it will make future tasks easier. Well, this is one of them!
What’s Ahead for February?
Take Stock! Annual Financial Summary & Analysis:
This critical class shows you how to do an annual review to check your progress using your key indicators and make your plans for the year. You’ll decide on your new budget after evaluating last year’s so you can make sure your getting what you want and planning for the variable expenses, so you don’t get caught short for predictable expenses (like birthdays and car repairs).
The GOAL: Have a completed list of goals, current net worth, and annual cash flow plan that will maximize your chances of reaching your goals. You’ll also complete your Key Indicators that can be used to track your Financial Wellness. This includes your two “personal trackers.” Learning a system that lets you see the progress you make during the year will help you stay motivated and achieve your short and long-term goals
1. Be clear on what you want from your money! (YOUR GOALS)
2. Identify your reserves and resources for accomplishing your goals (NET WORTH)
3. See your success or lack of it by seeing what has changed in your net worth over the last year.
4. Track key indicators of Financial Health quarterly, so you can see progress.
5. See where you spent your money last year and make choices on where you want it to go this year!
6. Have a plan so those “non-routine expenditures” such as car & home repairs, vacations, car tags, taxes, annual payments, etc. can be met without resorting to credit.
7. Your future assignments, retirement projections, insurance analysis will all start with the information gathered here so it will save you time!
This class is scheduled for:
• Tuesday, February 6th at 10:30 a.m. PT/11:30 a.m. MT/12:30 CT/1:30 p.m. ET
• Saturday, February 10th at 9:00 a.m PT/10:00 a.m. MT/11:00 a.m CT/12:00 ET
You’ll be able to watch the video, get your success work tools and assignments in your online classroom as well if you miss the class.
Monthly Coaching Hours via ZOOM. We’ll answer questions and guide you through the activities to help you stay on top of your monthly action classes. If want your coach to look at a document, don’t forget to load it into the cloud beforehand.
• Thursday, February 1st @ 4:00 ET/3:00 CT/2:00 MT/1:00 PT
• Tuesday, February 13th @ 1:30 ET/12:30 CT/11:30/MT/10:30 PT
• Wednesday, February 14th @7:00 ET/6:00 CT/5:00 MT/4:00 PT
• Saturday, February 24th @ 12:00 ET/11:00 CT/10:00 MT/9:00 PT
Financial Solutions Webinars (also available as recordings after the class date)
Taking Control of Cash Flow – Come learn the steps for taking control of your cash flow. We will cover exploring current patterns vs. goals, projecting and planning for the variable expenses that cause most of the problems, and strategies for improving the chances you will stay in control. February 8 @ 1:30 Eastern, 12:30 Central, 11:30 Mountain, 10:30 Pacific Click to register
Couples and Money – Money is listed as the number one cause of stress, fights, and divorce between couples. This class helps you develop your Couple’s Money Creed and behavior patterns that can dramatically reduce issues and conflicts. February 26 @ 7:00 pm Eastern, 6:00 Central, 5:00 Mountain, 4:00 Pacific Click to register
Video of the Month: Find More Money for Retirement
Americans struggle to find more money to save for retirement … but it may be easier than you think. Small changes to our daily spending habits can free up cash to invest for the future. See these amazing stories from actual clients. Hopefully, they will inspire you to create your own story. You’ll find more details in the video handout: Download Video Handout
Money Minute of the Month: In honor of the Oscars, you won’t get to see the latest releases this way but here are some tips on Save Money on Movies.
For more money saving strategies, check out Cut the Cord to Cable in our library!
Fiscal Fitness Clubs Team