Make Your Monthly Review Productive

Often I call attention to the value of a monthly review and planning session. This can be very helpful in becoming more successful with money management issues and in moving forward toward financial goals.

In addition, I have included a page specifically outlining the overall monthly planning concept, Monthly Financial Planning. Check this out for more details about this part of your financial program.

This skill step aims at reviewing some of the steps you can take to make these sessions more productive. There are several things you can do every month to help make sure you make the most of your time. Look over this list for ideas, but then make your own list with the various items personalized as much possible. Use this list as a guide for your monthly planning session.

• A set time and place is first. Set your own schedule. The important thing is that you are consistent from month to month.
• A written schedule or list of action steps to take is also helpful. By writing down what you want to do each month you will get more done and spend less time thinking about what needs to be done.
• Balance your checkbooks.
• Make sure all bills are paid (go online and make sure all accounts including those without a balance are current).
• Calculate your net worth.
• Review your spending plan for needed changes.
• check each month to be sure you are looking at both your long term interests as well as your immediate concerns.

You always want to think about how these relate to your overall goals, especially your top long term goals such as developing the passive income you need to make it possible to live without a nine to five wage limited job.

Those goals may be thirty years off but when your short term goals are seen as a component of that overall goal it is easier to stick with the plan. And, as time goes along you will probably be able to shorten up the time frame.