Today is my birthday. I’m 41 years old. Each year on my birthday, I take time to reflect upon the year that’s passed. Moreover, I make goals for the future. Sometimes these are related to finances and sometimes they aren’t. This year I’m asking myself, “should I review finances on my birthday?”
Pros and Cons of Reviewing Finances on Birthday
The Making of a Millionaire recommends using your birthday as a reason to review your finances. She quotes David Bowie about how aging is a process of becoming who you always should have been. Then she goes on to say that she wants to be, and perhaps always should have been, someone who is good with money. Therefore, reviewing finances on her birthday makes her feel productive, inspired, and filled with growth potential.
Of course, if you’re in a bad spot with money, reviewing finances on your birthday could feel challenging. Moreover, if you didn’t budget for your birthday and decide to splurge on it anyway, then you might have lots of mixed feelings about money on this day of the year. For me, I determined that a brief glance at money within the larger context of my annual life review makes a lot of sense.
My Last Year in Money
My last year in money has been rough. However, I also achieved some good things with money during my 40th year of life. An honest self-assessment shows:
- I paid off a lot of debt. Then I accrued more debt. Therefore, I’m not where I want to be, but I’m better off than I was one year ago today.
- COVID was challenging for my work as a freelancer. And yet, I was able to take advantage of grants and small business loans that weren’t available to freelancers prior to the pandemic. Pros and cons.
- I began to explore NFT art, which made me more interested in cryptocurrency. I previously thought that I couldn’t understand this aspect of money. It turns out I can grasp it a little bit better than I thought.
- I had tough conversations with my partner about money. The communication was great and I feel really good about growth in this area.
My New Year Goals in Money
Obviously I have the same basic money goals that most people have: spend less, save more. Pay down debt. Stick to a budget. But here are some of my more interesting money goals:
- I learned through the process of applying for writer’s grants that I like the grant application process. Therefore, I’d like to explore getting better at grant writing and perhaps earning some income off of this.
- NFT art as it applies to writing also really interests me. Therefore, I intend to make some connections in this area.
- Maybe I’ll take some personal finance courses. I’d like to just keep expanding my money knowledge in my new year.
So, by this time next year, I hope to have some new income streams based off of these new interests that have emerged. since my last birthday. That feels like an interesting, doable goal.