A Time for Reflection and Planning

Have you ever had a song’s lyrics, playing over and over again, stuck in your head?  During the holidays, I kept hearing these words to “So It is Christmas” so much so that I felt compelled to share its message with you.

“So this is Christmas and what have you done
Another year over, a new one just begun…”

“A very merry Christmas and a happy new year
Let's hope it's a good one without any fears…”

This time between Christmas and the New Year can be an excellent time for reflection, to think about what we have done, both good and bad.  Since Santa keeps a list of all the children who are naughty and nice, we could copy Santa’s practise by keeping a list to see if we are naughty or nice with our finances.  

During the holidays, my brother-in-law toasted to a year of “having enough”. In all seriousness isn’t that all we need, “enough”?  Diane McCurdy, a CERTIFIED FINANCIAL PLANNER^® professional, wrote the book, How Much is Enough, and created a list of twenty key strategies for making enough.  We could all take a lesson from her.

Here’s your assignment.  

Read through the list below.

Reflect on what you have done.

Plan to make enough.

And have a great 2018!  

Twenty Key Strategies for Making Enough

1. If you know what you want, you can get it.
2. It's never too late—or too early—to start financial planning.
3. A little is better than nothing.
4. Any interest you pay is money you can't spend on yourself.
5. Clearing up debt is short-term pain for long-term gain.
6. Make compound interest work for you, not against you.
7. Pay yourself first: take at least 10% off the top to save and invest.
8. Registered retirement plans put more money in your hands and registered education plans put more money in your children's hands.
9. Revisit your wish list to refocus on what you're aiming for.
10. If you didn't want something in the first place, it's not a deal no matter how cheap it is.
11. Never hand over financial control—no one else cares about your future the way you do.
12. Get rich slowly—put your money regularly into solid investments.
13. Markets go up and down. Don't panic.
14. Invest only in things you understand and feel comfortable with.
15. If you miss an opportunity, there will always be others.
16. Borrow only for things that appreciate in value (except for your first car).
17. A financial advisor can make sure you're making the most from your money.
18. By taking care of yourself, you're helping other people.
19. Reward yourself in big and little ways for staying on track.
20. Know where you are on the road to where you're going.