How much do you really need to earn to make your goals a reality? In this step we will pull together all the steps to date and really work out what your business is earning, and how you can make it work to achieve your goals.
a) Download the Big Ticket Budget excel Spreadsheet
b) Enter your household living costs – how much do you need each year to cover the mortgage and other bills?
c) Then list Your Big Ticket Assets – these are some of the long term goals you want to achieve – Do you want to pay off your mortgage in 15 years, if so, how much do you need each month to make that happen? (Mortgage calculator download available to assist)
d) List other short term goals you want to achieve and the value required for each.
e) The spreadsheet will calculate the total amount required to achieve everything on your list. This will help you to understand what is achievable. You may need to tweak your timeframes for some of your goals, or you may realise you can get there sooner than you thought.
f) Review annually – once you start focusing on your goals, you will probably cross a few off your list pretty quickly, this will enable you to focus on some of the big ticket items and get them paid off sooner, or introduce new goals for you and your family.
