Ah, September. The monsoons are over and the intolerable heat of summer has finally given way to the temperate climate most of us Northerners sought when opting to make our homes in Tucson. Golf is again becoming a pleasant way to spend an afternoon, and I suspect others are also finding their preferred outdoor activities more pleasurable in recent days. Businesses and neighborhoods alike are preparing for the return of our fair weather friends, affectionately referred to as “snow birds”, while University of Arizona sports fans are finally getting a weekly fix of the drama they so crave. With the first signs of autumn beginning to take root, many of us find the return to normalcy and routine a welcome respite from the relative chaos of summer vacations and children’s camps. For many, seasonal changes also serve as a reminder to reflect on the changes that have taken place personally in each of our lives.
Millions of Americans use the demarcation of a new year as the opportunity to make resolutions and set personal goals. Unfortunately, the majority fail to realize their objective, whether it be associated with health, money, or some other area in which they hope to improve. This is in no small part due to a lack of planning. It is very difficult to make significant lifestyle changes, particularly when the excitement and anticipation of the “new beginning” wears off. Those who are successful dedicate themselves to the cause and regularly track their progress. It is in this vein that I encourage those of you who made resolutions at the beginning of the year to examine how said goals have been advanced in these first nine months. For those who wish to make changes now, the New Year has no monopoly on self-improvement.
As a financial advisor, my objective is to assist those who wish to improve their economic lot in life, whether through investment allocation or some other area regarding personal finance. In recent weeks, the issue of credit card debt has been a regular topic in client meetings, and one of great importance to fiscal health. Of all the things one can do to better themselves financially, the elimination of said debt is at the forefront. As we approach the Christmas and Hanukah seasons, many will be tempted to buy lavish gifts using their credit cards with the intent of paying down the balances throughout the coming year, but there are better ways to finance the coming holidays. Those who start planning and saving now will find themselves in a far better position to achieve their financial goals when the New Year rolls around.
Granted, achieving a monetary objective often appears to mean making sacrifices, but this is not necessarily true, it is simply a matter of how you look at things. I prefer to consider these so called sacrifices compromises, because, for most, fiscal discipline does not take giving up the pleasures in life, but rather moderating often gluttonous behavior. At some point all of us recognize that it is time to start planning for the future: For future retirement, future vacations, future whatever. The sooner one develops the resolve to better their financial life, the sooner they will achieve their declared goal. Make a plan. I repeat make a plan. Budget. Do the little things that will eventually lead to a fuller, less stressful life, and do it now. Payoff your credit cards and contribute to your retirement plan. Promise does not come in the changing of the calendar, but in the changing of one’s self. The time is now.
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