Off Site Outing
Pat likes the idea of honoring the process of planning your goals and dreams with your partner by going off site and making a special date of it. As I talked about in my money date article, this is what my husband & I do and it works for us too! I love the idea diving into your financial future by making a special evening out of it. If that’s not possible, you can still make it special at home. Get your favorite dessert or bottle of wine - something to make it into an occasion rather than an ordeal!
Now For the Fun Stuff
Once you have a few months of household budgeting under your belt, you get to move on to the really fun stuff and give voice to your dreams! For instance, Pat and Mark always start with travel planning because they love to explore the world – and yes – planning your dream vacation is very much a part of the financial planning process!
Too many of us just go on autopilot and plunk down the credit card(s) for vacations, clothes, yoga, therapy etc – without thinking about these things as part of our overall financial plan. Rather than view your money and your interests as two separate parts of your life, you need to start viewing them -and planning for them- as part of an integrated whole.
Monthly Upkeep
Shouldn’t you give your finances at least the same amount of attention as you give, your hair or nails? If a monthly sit down is too much, Pat suggests keeping track quarterly to see how you’re are faring. As we all know, sometimes what we have actually spent, and what we think we have spent, are two very different numbers!
Year in Review
If you’re new at all of this, we suggest you get started by focusing on your future. Let’s face it, you can’t really do the Year In Review exercise until you’ve actually kept records to review!
The second half of Pat’s guide gives you a sense of what you will do 12 months from now – and how much easier & accurate your financial planning will become when you start keep decent records. But for those of you who are just starting now, we really hope you’ll take the next few months to get a jump start on your own ‘Year Ahead’ plan – can you think of a better way to ring in the new year?
As Pat reminds us, we should not underestimate the power of the written word. Nobody’s perfect, but just by taking the proactive step to keep track of your monthly budget for the rest of 2010, you will empower yourself to change the course of the rest of your financial future. Pat’s call to all of us is to make next year ‘our best year yet’ – we certainly hope that is what 2011 will be for you!
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Great idea! We’re almost upon the 4th quarter of the year – when I usually start planning for the next year. Will definitely check out Pat’s website!
Denise
http://www.frugalluxe.com
While I must admit that I have not yet read my good friend’s book, I know from years of conversations what her philosophy is. I know that she and her husband Mark fully enjoy their lives and forego that $5 latte and eating lunch out on a regular basis in order to treat themselves to beautiful and fulfilling adventures around the country.
What I have learned from Pat and Mark is that in order to enjoy your big dreams, you need to be very conscious about what you are spending or in many cases, frittering away on a daily basis.
It seems like there is a parallel to what a friend said to me years ago — “You can do anything, you just can’t do EVERYTHING.”
Pat and Mark’s philosophy seems to be centered around identifying what is a priority in your life and funneling all of your attention, consciousness and funds toward what you really want –instead of allowing your dreams to evaporate by indulging in daily quick fixes that often leave you broke and going in circles.
Pat has a powerful message to share.
Over the years we never really sat down and wrote out a budget. Just always made sure that all bills were paid as they came in and didn’t over spend with money we didn’t have. Now after 40 years of marriage, the kids grown and retirement three years away we’re examining our needs, budget and dreams for our future. Year Ahead/ Year in Review was very helpful in showing us how to keep tract and plan for our future by breaking down household expenses and seeing exactly what we could be saving on a weekly basis. Pat’s book is very helpful and gives good suggestions for mapping out a monthly household budget. This will be helpful in looking ahead for a comfortable retirement after working hard for so many years.