Money Mentoring - Step 10
On a monthly basis, we will review your financial position and compare it with your financial goals. Are you on track? Why or why not? Use the “Whys” to encourage yourself to stay on track and use the “Why Nots” as lessons that you can apply in the following months. This is a great formula because the more “Whys” you have, the more encouragement you will get, which will help you to eliminate the “Why Nots”. You can also receive Encouragement and Guidance in your e-mail box by signing up for Nader’s periodic e-mails regarding sound financial decision making. What do I have to do? Review your financial performance. Each month you will receive a personal financial report. It will include a Balance Sheet that will show you your current financial position and an Income Statement that will itemize how much you made and how much you spent during the past month. These statements will also compare reality with your budget. Are you on budget or not – and why. When the answer is consistently “On Budget” then you are living your financial life the way you planned it and are on the road living a purposeful financial life. What will your Accountability Partner do? During each month we gather information regarding your financial activities. At the end of the month we summarize this information and mail you your bank statements and paid bills along with your Balance Sheet and Income Statement as noted above. In addition, when you are a SFS client you have access to your Accountability Partner regarding your current finances and any financial decisions you are facing. Lastly, we can forget taxation. At the end of each year SFS will prepare your taxes with the information that we have been tracking all year. |
