GFD: Get Finance Done Part I
1. You must have a trusted system to achieve a "mind like water"
You need a financial system you can trust
2. Collect everything in your system
Account for every dollar
3. If you're feeling out of control, do a "mind sweep"
Conduct a "reality review"
4. Don't keep open loops in mental RAM. Keep them in your system.
Don't keep track of your spending in your mind. Use cash or a spending notebook
5. The weekly review
Regular budget meetings
periodic review should include:
- entering receipts into financial software
- reconciling your financial software with your paper statements
- reconciling last month's budget
- creating next month's budget
- determining how much cash to withdraw for the period (if you use cash)
- ensuring all automatic payments were made as planned
- ensuring all automatic payments for the next period are set up properly
- reviewing your short-term savings goals
quarter you should also:
- review your long-term savings goals
- update your net worth statement to see your overall financial progress
- plan for upcoming vacations or major purchases
This entry was posted
on Thursday, April 26, 2007 at 7:54 PM.
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