So I just spent a few hours organizing my finances. While some of you might be thinking – boring – I actually enjoy doing this sort of thing. I am a numbers guy after all.
Normally this is something I do right at the beginning of the year, but have been putting off because I knew I didn’t successfully complete some of last years challenges. Most of those were related to paying off debt and growing my net worth, but there were other things like keeping my budget up to date that were complete write-offs.
Of course I should have looked sooner, because looking sooner would have had me realize that I did way better than I thought I did last year. Don’t get me wrong – I’m not suddenly independently wealthy or anything, but I’m fortunate in that I do have enough to put food on the table, a roof overhead, and save a little for rainy days or wanderlusting, adventures, and shenanigans.
Did I reach the targets I had set last year? No, not exactly. But I did move in the right direction and that’s what’s important. In fact, I moved farther in the right direction than I had thought. This is mainly because I’ve opted to pay down my mortgage at an accelerated rate. I apparently had forgotten how that might impact my net worth and debt. Silly me.
Regardless, the area in which I failed miserably was keeping my budget up to date. In any sort of financial setting – good or bad – I’d suggest that this is something that I should always do. As with most of my goals, if I continually review their status I’m more apt to attain them. So this year I’m going to be a bit more diligent in this area. I’ve also already started efforts to spend less by purchasing fewer coffees, packing lunches, and reducing the amount of money I spend at restaurants. Every penny counts, right?
Will 2014 see me a gazillionaire? Not unless I win the lottery or suddenly invent that thing that everyone on earth is willing to throw their hard-earned dollars at. But if all goes well I should again see my net worth go up as my debt goes down.
Unless of course I decide to cash it all in and move to a beach 🙂