This time of year, social media pages are flooded with pictures of kids either going back to school or going to school for the first time. In many of these pictures, the kids are holding up signs or chalkboards indicating their name, grade, age, and maybe even some fun facts. One woman got her husband who is a teacher to get in on the fun by posing with the same kind of sign that his students do.
It is easy to question the need to mark the beginning of each school year or the need for students to get gold stars or other prizes for their work but there is good reason for these practices. It helps to spur students to continue what they are doing and work towards even bigger goals.
We can apply this idea to investing, saving, and financial planning. One way to take away the dread that some people feel with regards to financial planning is to mark important dates in your financial life such as:
- Buying a home
- Paying off a credit card
- Making progress in reaching a goal for your emergency fund
- Getting long-term care insurance
- Staring an investment portfolio
- Selling an underperforming stock
Now we don’t recommend that you mark these kinds of occasions by spending money (going out to dinner, etc.) but it is important to congratulate yourself on the progress you have made. If financial planning were easy, then everyone would do it with great enthusiasm. However, it is not easy and if you are taking the time to look out for yourself and take care of your finances, you do need to pat yourself on the back. Your accomplishments matter and noting them will motivate you to continue. And if you want expert assistance, a Fee-Only financial planner can help.