STEP 7: Looking Ahead
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Congratulations, on taking the steps to get control of your finances! However, any good financial plan must involve continued monitoring, periodic review, and occasional re-evaluation. Mistakes happen, circumstance change, and your needs will vary at different times in your life.
Yourself a few questions:
- Are all my expenses accounted for?
- Are my figures correct?
- Is my income correct?
- Is my plan based on ACTUAL numbers not on PROJECTED numbers?
- Did I calculate everything correctly?
- I’m I actually sticking to the plan?
I recommend that you review your plan monthly. If it is working, then a quarterly review should be sufficient to keep you on track. However, if there are any major changes to your financial life, you will need to re-evaluate your plan and possibly change it.Keep it up and Enjoy knowing that you have taken the steps to financial freedom!