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First Quarter Financial Planning Updates
It’s that time of year. Time to update and review your budget for 2021. With the start of the year, we can expect changes, updates and opportunities that will impact our financial plans and purpose. A few items that can impact our financial plan in the first quarter include:
Updating and reviewing our budget is an important and ongoing process. Take time in the next 30 days to update your budget and share your new budget with us via secure email, E-money or a Secure Form.
Send a copy of your budget using your personal spreadsheet
Why do we need to update our budget?
Having an understanding of our financial cash flows and resources is the foundation of the financial planning process. It is fuel on our journey. A limited resource to be managed and reviewed in relation to our financial goals or best guesses for future.
Don’t like budgeting? Sounds stressful and time consuming? It’s OK to not like budgeting. It’s ok to not track 100% of spending. An imperfect budget beats no budget. Making an effort to avoid unnecessary debt and spending less than you earn is a healthy exercise. If this is your first time updating or building a budget. I recommend focusing on only a few areas to start.
Don’t be afraid to submit an incomplete budget or skip over areas that are unknown for now. Some areas will be best served with a “Best Guess” number that can be revised in the future.
What some help with your budget? Book a meeting today to get help.