Accountability: Is the end in sight?

About the time we think we can make ends meet, somebody moves the ends.
Herbert Hoover (1874 - 1964)

It's a good idea now and again to ensure your budget isn't blowing out - when was the last time you wrote down EVERYTHING you spent your money on? And I do mean every little thing - and how did you pay for
it - cash, direct debit, credit card?

* Are your outgoings less than your incomings, or vice versa?
* How far apart are the two?
* What are you doing about the gap?

Things break down, things need replacing - if that were to happen to you - would you have the means to fix / replace the item?

I wish my parents had been able to tell me the formula to financial independence when I was a kid. Unfortunately they didn't know it. The formula has been repeated many times by many people, not least of whom - Jim Rohn. Basically live on 70% of your income. 10% should go into an account and never be touched. 10% should go to pay for capital purchases and the last 10% is for giving. The what and who you give to is of course up to you.

Most people including me don't use the formula effectively because we started too late and with too many commitments - but like every goal we have - we need to start somewhere, and keeping an eye on what you
spend is a good start.

It's like time - do you know where and how you spend your time? Write it down - you will be horrified at how much time you waste on things that do not matter.

How about food? Do you know what and how much you eat? Are you overweight? Isn't it time you took an inventory of what you are consuming. Does this consumption have an impact on your bank balance as well as your waist line? Absolutely.

Do you wish things could be better - how? It's no good just saying "I wish things could be better" write it down. Get everyone involved in this. What amazes me is the fact that teachers don't seem to teach kids the importance of setting goals and time and project management - or was it just my kids school that didn't do it? What is the goal? Well a good grade at the end of the year - how do we achieve that? By doing certain pieces of work in a way that allows you to get those marks - how many pieces a year are you expected to do? How much time per piece? How many marks per piece? Break it down into ways they can understand - and in a way that means they can work out what they need to do and when it needs to be done by.

So what happens if you are not studying? Well if you want a better life then it still applies - what do you want at the end of the year? What steps do you need to take to get there? Do you want to live cigarette free? Then it starts with a single cigarette and the full knowledge that after a certain period of time you will be able to....

* If you put aside the money you spent how much would you have?
* Would your clothes smell better?
* Would your skin improve?
* Would you be able to taste things again?

Apply one of these strategies to where you are now and see an improvement in a very short space of time. Apply more than one of these strategies and every little step = a much better future for you and your families, your employees, even the company you work for.

We are still in the very early days of 2010 - not too late to make a difference to the way the year turns out - all it takes is a decision on your part to hold yourself accountable for your own actions.