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Monitoring Your Financial Wellness

Health & Wellness News

Summer 2018

Monitoring Your Financial Wellness

by Laurence Dresner, ChFC

Would you fly with a pilot who didn’t check navigation and make adjustments along the way? Would you sail with a captain who didn’t make sure that the boat was on course? Air or sea, with no one monitoring progress, you’re less likely to arrive at your destination.

The same holds true for achieving a financial goal. If you aren’t reviewing how things are progressing, you might not reach your destination.

Now is a good time to review plans you made at the beginning of the year (or your most recently made plans) and check your progress. Have the steps you’ve taken helped you get closer to your goal? If not, make small adjustments to get back on course. Checking your progress can help you determine changes, such as these:

  • Increasing the amount that you’re saving
  • Putting a few more dollars toward paying off a credit card balance

Little changes over time can add up to huge differences.

If your goal at this point seems unachievable, break it down into pieces and strategize about how to complete each smaller step. Before you know it, that seemingly unreachable goal will feel attainable. For practical pointers on setting goals that are relevant and achievable, try our SMART Goals eLearning course:

Click here if you are clergy, and click here if you’re a lay employee.

The importance of checking in on your progress doesn’t only apply to financial goals; you may need to check in on your health goals as well. Are you on track for achieving a weight-loss goal? Have you been putting time aside to exercise, or to simply relax, refresh, and recharge?

To paraphrase the Roman philosopher Seneca, “If one does not know to which port one is sailing, any port will do.” Why leave it to chance?

Laurence Dresner, ChFC, serves as a Financial Education Client Specialist at the Church Pension Group.