We’re now officially at the halfway point for 2020. I know it’s been a crazy year thus far and I think it’s safe to assume your financial goals have likely been altered due to the coronavirus pandemic.
This year has been a financial rollercoaster for millions of people around the world, but no matter where you are on this journey it’s time to do a midyear financial checkup. I like to do this with my clients as it helps them see how short-term decisions and can make significant positive impacts in only a couple of months.
These are just a few areas I focus on and it varies from client to client depending on their own situation, but financial goals are something I discuss with every client.
I want you to start by asking what your financial goals are for 2020? Pay off debt? Build your emergency fund? Save for a big purchase? It doesn’t matter what your goals are, but I want you to stop and reflect on the past six months.
Are you on track to achieve your goals? What actions did you take daily, weekly, monthly to improve your financial well-being? Just like other areas of our life we have to take action if we want to improve our financial future.
One of my financial goals for the year is to buy my first rental property. It sounds hard at first but when you break it down into smaller pieces it seems more achievable.
I first started by educating myself on real estate investing and learned from top podcasts and books. Once I had a strategy in place I researched and found my target market and determined what kind of properties to focus on.
Real estate in my target market is really hot right now, so I’m holding off on buying until the Fall. Right now, I’m researching and learning everything I can about my target market and analyzing deals daily so that when I’m ready to buy I can quickly submit an offer.
In the past two months, I’ve analyzed more than 30 properties and have gained confidence as a real estate investor. Every day I’m taking small actions that will help me achieve my goal.
With any goal, consistency and accountability are key. One of the first things I do in the morning is check for new properties and analyze them in my spreadsheet.
My realtor also acts as an accountability partner, sending new properties my way as she spots them. By being consistent, I feel confident I will achieve my goal well before the end of the year.
What are your financial goals and what steps have you taken to achieve them? Even though your goals have likely changed this year, you can be resilient and still make progress by taking action.
I know it can be hard to know where to start or what to do first. I am here to help you. As a financial coach, I have helped hundreds of people get out of debt, save more, and transform their relationship with money. I will meet with you to create a plan to achieve your financial goals and provide you with personalized coaching tailored to your specific needs. You’ll leave feeling confident about your financial future!
If you’re interested, please schedule a free consult on my website and we can see if we are a good fit for each other. You can also email me with any questions at firstname.lastname@example.org.