Spring traveling!

I enjoy traveling.  Familiar places are cozy, but exploring different places is exciting.  Part of traveling to a new place and discovering wonderful opportunities requires planning and assessment.  What interesting foods, hidden gems or local favorites do I want to find?  What landmarks will alert me to my progress or proximity to my destination?  Am I getting close or did my questionable sense of direction kick in and I’m way off track?  Thank goodness for GPS!

This week’s blog is a quick check in on our 2025 goals.  At the end of 2024 that I said would cheer you on for the activities and goals you wanted to accomplish this year.  I still am, so I thought I would take a collective pulse check on progress.  Accomplishing goals isn’t an exact science and adjustments can be made along the way.  Quality goals (particularly MorphGoals) stretch us beyond what we have experienced, and assessing progress is necessary.  March is almost over, so let’s measure progress in an example goal.  We set a goal to save $4,000 in 2025.  At this point, there should be $1,000 in the designated account.  Let’s say $800 was successfully saved.  Close to the ¼ mark but lacking $200.  What do we think about this, and what are the options? 

First, I encourage folks to acknowledge that progress was made.  There is $800 more in the account now compared to early January.  The amount isn’t exactly one quarter of the goal, but multiple obstacles were overcome to save that amount.  Take a moment to acknowledge progress before focusing on the deficit.  On the flip side, if there was no intentional action and effort to save $1,000, take the reality check and make the necessary adjustments to hit the halfway mark by June.  

Second, what are the options for the 2nd quarter?  Could the $200 deficit be erased by saving an additional $67 for 3 months to accumulate $2,000 by the end of June?  Or throughout the past three months, significant challenges were experienced to save the required amount.  Let me note here that there is a difference between a good and bad challenge.  A good challenge stretches us and involves good decisions and assessment of opportunities.  Bad challenges involve falling behind on financial obligations and incurring costly fees.  If this goal is trending towards a bad challenge, I encourage you to adjust the goal without shame.  Perhaps adjust the goal to $3,500 to accommodate the challenge.  There is no wrong answer.  You are in control of your finances.  Take in the information and select the best option available.  As your virtual coach, I am not fixated on the amount.  I am hyper focused on making progress, adjusting behaviors and strengthening my client’s financial awareness.  Everything else is math.

I want to know how you are doing and how can we help you understand where you are 25% through 2025, and how you can chart a pathway forward.  Also, if you haven’t set any goals for this year, never fear.  There is always time to change the course of your year.  We are here to help!

StudioM Financial exists to help our clients move from impossible to possible through education and coaching.  Our 50/70/100 principle is still our friend!  Please let us know how we can walk beside you to reach your goals.  letstalk@studiomfinancial.net of 469-615-0387.  Until we meet…keep working on the change.