The Power Of Tracking Your Progress To Achieve Your Financial Goals
When you run, getting to the finish line is your goal. We feel great seeing the progress. You set your financial goals. That's very important to you. And you start working on that.
But if you just keep working and have no idea of how far you have come, you are in a dark. You cannot measure the effects of your action. The reality is that everything you do has an effect on the end result. It may get you closer to achieving your financial goals or get you away from your financial goals.
You set your financial goals and that's great, but you spend money the way you spend before. Even though you know it's important to make a budget. After a certain period, you don't make and maintain your budget. Do you think you will achieve the financial goals that you set before?
Maybe it is in your plan to make more money. You know how much money you made before and compare that with the present situation. Are you making more money? If you don't track your cash inflow, again you are in a dark.
To achieve your financial goals, you break them down. And make it small actionable steps. Taking a small step is considered progress. When you track your progress, you see what you have done till now. It will increase your confidence. It is visual and you can see that. You will be motivated to move forward.
If you find out that you are not making progress as per your expectation, you can figure out the root cause. Then you have a chance to fix that in order to get back on track. It will not be possible to do without tracking your progress.
Sometimes we are busy doing different things. But is it actually contributing to your financial goals? Being busy does not mean you have accomplished a lot of things. You may do something that is unnecessary or has no relation to your ultimate goals. In that case, you have to say no to all those things.
The only way to know and measure that is to track your progress. So what do you think? Please feel free to leave your comments. Thank you for reading this post. That's it for now. I'll be back with another post.
We need always to have a plan for everything.