It’s the middle of the year, are you on track to reaching your goals?

We are halfway through the year already. So, let us have a quick check-in. What progress have you made thus far regarding the money goals you set in January? Are you on track to achieve these goals or have you encountered a few unforeseen roadblocks? If you have, it is ok to feel despondent. Yes, it’s absolutely ok. Life is never smooth sailing and with all the happenings that are going on in the world, it’s okay to have had a few setbacks.

Remember we endured a global pandemic. Never would we have ever predicted a disaster like this. And we survived….meaning we have newfound strength and have given a new meaning to resilience. So, pat yourself on the shoulder and do not be too harsh on yourself if you are not where you thought you would be six months into the year. The fact that you are still here standing, and surviving is a sign of your strength. So, pucker up and let us reignite our power and make the next 6 months the best 6 months you have ever had. Ready?

A mid-year review allows you to pause, check in, and evaluate your goals for the year. Any mishaps or setbacks give you the opportunity to course-correct and make any changes to your plan or goals that will still allow you to have the best possible chances of success.

Let us take for example our intended December family holiday. Have you booked the accommodation and flights? How much have you saved so far? Are you likely to reach your budgeted amount? If not, what changes can you make to your holiday? Do you need to find cheaper accommodation, change the destination, reduce your stay, or find an alternative way to get there? Can you reduce your expenses and go on an even stricter budget for the next few months or, work even harder at trying to earn more income?

Are there any household items you can get rid of that no longer serve you to supplement your income? Or perhaps there are services or products you can sell to start a side hustle? These are some harsh but necessary changes you can consider to make your dream holiday a reality, and only you can decide which changes you are comfortable making. When posed with these changes, questions you can ask is how important is this goal to you? And what changes are you willing to make to achieve this goal?

Some tips to help you stay focused:

  • Spend 5 minutes each morning and night visualising your dream holiday
  • Place your vision board in a new spot at home, so that it reminds you daily of your goal.
  • Have weekly or monthly discussions with the rest of your family to get everyone on board with the necessary budget cuts.
  • Find creative ways to make this holiday happen (instead of buying expensive gifts for family members for Christmas, make their gifts)

We know applying some of these changes practically or posing some of these questions may not be easy for everyone. We also know that for many the cost of living has increased and that achieving your goal may not happen in the period that you initially planned. The harsh reality is that if you are in this situation, then you may need to seriously consider re-evaluating this goal completely and delaying it to a future date when it does become more affordable. There are times when certain trade-offs must be made. Needs must be considered before wants. And when the time is right, you will be rewarded for making the right choice.

By Jean Archary – Financial educator, Entrepreneur and Founder of MoneyMessages

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