The 4th Quarter

This is the 4^th Quarter for companies and organizations, which is the last quarter of the year. This is important for companies trying to finish strong and meet their goals. During this period decision making is key and what they do can make or break the company.

I use the same strategy in my home life as far as my finances are concerned. Like businesses I have had many financial trials and have had a few setbacks here or there but have recovered by using a business model to create success. Having a tough year or a strong one is decided by setting a goal, preparing a plan, and executing. It also involves tough skin and discipline.

Here is a list of a few areas to focus on during the year and this will get you going for 2023.

The first question is what did your spending look like this year? Did you make any major purchases or just trips to Starbucks? Look at your bank statements and see where your money goes, this will give you a picture of how you appreciate what you have earned and show you what is important to you. So, for 2023 write down your financial spending goals and decide how much you will now spend on leisure, coffee, and other items.

Next, how much money did you save this year? Did you earn interest onthat money? Are you banking at the right place? Also, how does saving money make you feel? Saving money can be fun, it is a mindset. Do you get excited about using a coupon or getting a deal? If so, then you are a good saver. For 2023 look for a bank with the best interest rates and start saving little by little, $25 here or there is a great start.

Where are you sitting right now? The 4^th quarter is the most important because you still have time to end the year strong. Are you planning to end the year spending a large amount of money for Christmas or making a large purchase? If so, have you met your savings goal? Spending money is wonderful, but if you are financially strained and living paycheck to paycheck it is not wise to use this time of the year making large purchases. So, spend less and save more.

Next year will be a good year for you by simply using a business model for your personal finances. End the year with a new mindset and new strategies for the upcoming year. Do not forget that there is still time this year to finish strong, make an impact and change your circumstances.

Happy 4^th Quarter!