26 | An Update To Review Your Personal Finances For Quarter Two

There’s a good chance you’re in a new financial season in your life or that you have a desire to spend your time and money differently in the next three to six months. Pandemic has brought with it lots of changes to the economy and the working world that likely have you adjusting your spending. But are you actively paying attention to and making those necessary adjustments? Do you know how your expenses have shifted? Are you aware of how upcoming commitments might impact your finances? Your spending changes with the seasons, so your spending plan should, too. That’s why I do a quarterly money review: to evaluate my spending, celebrate my results, adjust my money goals, and create a new spending plan that accurately reflects my current wants and needs. Today’s episode is a replay of my process for doing your own quarterly number review. I’m sharing how you can adjust your spending plan in real time to better reflect your current needs and goals. Plus, I’m explaining why it’s so important to think about upcoming expenses when creating your spending plan and savings goals. In this episode, you’ll learn... Why you should do a quarterly review of your numbers and pay attention to how expenses have shifted as well as any new goals you have [01:15] How to figure out where and how to rearrange your budget [06:44] Questions to ask yourself as you do quarterly planning [11:03] Why your budget should be a fluid document, not a static set of rules [17:56] Why you should do an in-depth review of your personal finances every quarter [20:03] How your quarterly numbers review is about evaluating and adjusting [21:13] How to align your spending plan with your values and goals [22:42] How to celebrate your tangible and intangible results along the way [23:25] How to refresh and evaluate your goals moving forward [24:50] How to adjust your spending plan based on what’s happening in your life [28:03] How to use a “roleplay budget” to account for upcoming life changes [30:41] How to adjust your spending plan every quarter [33:52] How to customize your quarterly number review to fit your needs [36:14] Tune in to this episode to learn how to do your own quarterly number review and get even closer to your money goals. Get full show notes and the episode transcript: https://wealthovernow.com/an-update-to-review-your-personal-finances-for-quarter-two/ Links mentioned in this episode… Listen to Episode 13 with Kim Tran all about salary negotiation