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Health & Fitness

Failing to Plan is Planning to Fail

Focus on your financial health.

One of the benefits of a new year is that you get a chance to refocus on what matters to you and formulate a plan on accomplishing it. The top-10 New Year’s resolutions this year include getting out of debt and saving money.  There are tools and resources to help reach these goals but without a plan of execution nothing could be accomplished.  As we bring in 2012 now is a great time to start planning for your financial health because it shapes every other aspect of your family and small business.  Successfully navigating a family or a small business in our current economy requires informed planning.

Good financial health starts with knowing what your revenues and expenses are and understanding which of those expenses are must haves and which of them are nice to haves.  Using that knowledge a budget must be developed. Actual revenues and expenses then should be compared to this budget to understand why things fell off track to come up with a way to avoid the detours or fund for the needed detours in the future. The process of preparing a budget allows for building an emergency fund to cover unforeseen events that require expenditure, thus helping your family or your small business avoid financial trouble.

Finance is the life blood of your business as well as your family wellbeing. Therefore, it is time to take control of your financial health today by understanding your financial situation with the aid of measurement tools available to you. Once you know your situation, build your budget and work your plan. Remember that it is better to start now than never to attempt at safeguarding or fixing your financial health. Most of all don’t be afraid to ask questions and learn from your own community. Why wait? Get started now!

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