The success of a good financial plan doesn’t just rely on the technicalities of the plan itself, it also must be executed well, down to the last letter. Unfortunately, many people seem to forget when and where to spend their money, leading to a lot of frustration that could have been easily avoided.
In order to follow through on the most important parts of the financial plan, an investor must follow his financial calendar. This isn’t something that is provided by banks or insurance companies. Instead, this is a calendar made by the planner in order to organize his payments. Items such as bills, loan payments and other important liabilities should be recorded here.
Fortunately, there are many free calendar programs that now have the ability to remind the owner of payments that are due. Most of these payments will come up either at the end or beginning of each the month, holidays not withstanding. The calendar can then be programmed to make notification during the last few days of each month.
Over time, the investor will have learned the habit of reminding himself of these important without the aid of the calendar. Still, it’s best to leave it open in case of multiple bills on the same day that all need to be attended to immediately.