Monday, June 29, 2015

How To Stay On Financial Track?

One of the hardest thing on financial management matter is to be able to stay on financial track all the time. To periodically check and monitor on investment portfolio, to diligently put aside money every now and then, and to always keep the financial management spirit high. These are not easy.

So, how do I ensure I stay on my financial track? Here are some of my methods:

1) Apply the power of technology
To monitor my investment, I signed up online account provided by investment firms. With this, I can log-in anytime to check the status of my investment. There are also other tools and apps to monitor investment but I still prefer to use my simple spreadsheets to monitor my investment.

2) Utilize Standing Instruction / Auto System Facilities
I admit it is hard for me to manually transfer a certain amount for my investment, on monthly basis. I know this is important but somehow, it is hard to be consistent. So, I signed Standing Instruction (SI) to transfer certain amount into my investment, on monthly basis. I love this automation. It is hassle free, time saving and most importantly, it consistently make the transfer on time.

3) Reading, reading and more reading
We are human. Our mood and judgement easily affected by our emotion. When I feel like I am lagging on financial matter, I will read on articles or book to keep my financial management spirit high.

4) Engaged with others with similar motive
I realised that it is also important to surround myself with the 'likeminded' people. I learned a lot from other bloggers. And most importantly, their success provided me a strong courage to continue with my own financial journey.

So, how do you motivate yourself to stay on financial track?

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