First Quarter CheckupIt is about that time. I have told you about it in the past. I have reminded you to do it year after year. So, here it is the end of the 1st quarter of 2012 and I am telling you again: It's time to do a financial checkup. 

Whether you are just starting out on your Debt Management Plan (DMP) or other financial program or you are years into it, do yourself a favor and check in on how you are doing: 

  • Identify what's working with your budget and what isn't - Make your adjustments now!
  • Track your daily spending - Are there more places you can cut back?
  • Figure out where have you been slipping and how you can correct it.
  • Look at your income versus what you spend each month.
  • Create a plan for unforeseen expenses, if you don't already have one.

We all get lazy. Once we have a plan in place we just assume that it will work itself through and there is little need to adjust or review it. The truth is, even a quarterly review may not be enough.

Starting off, I tried to do it monthly, but then I fell into the lazy habit of being "comfortable" with what I was paying and not really paying attention to my budget anymore. I realized that I could firm some things up again.

Make it a habit just the same way it is natural to balance your checkbook or pay some bills. 

Giving yourself a financial checkup, especially when you are in debt and trying to get out of it, should become second nature. I know it is easy to avoid; sometimes you don't want to remind yourself how much debt you have or where your money is really going, but let's face it: it is what it is. 

We got ourselves into this; only we can get ourselves out of it.

Related Posts:

Time To Check The Score

Financial Planners Are Not Only For The Wealthy

Mid-Year, Time To Check The Score

Katie Lupo, CareOne Debt Relief Services, BloggerKatie (Simmons) Lupo

Katie is currently enrolled in the CareOne Debt Relief Services Debt Management Plan (DMP). You can read more about Katie's experience in the My Journey out of Debt blog. In her blog, Katie explores life without credit cards, living on a 'real' budget and making that adjustment from spender to saver. A newlywed, Katie candidly addresses how debt has influenced her choices in love and life. Look for older posts by Katie under the Single and Settling In blog. Compensated Blogger for CareOne Debt Relief Services.

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