We’ve all heard the phrase don’t sweat the small stuff. We could interpret it to mean that we shouldn’t pay too much attention to the little details.
However, I think it’s more about getting those smaller and sometimes more mundane tasks cleared up so that our approach to the bigger and more fun things can fill more of our day, and be more successful.
When it comes to personal finance, this approach fits the bill. We don’t want to spend most of our time working out how to look after our money. We want to achieve that and then start working, building our businesses, and reaping the rewards.
We’ve put together some examples of how taking care of the small stuff can give you what you want and need in the long run.
Start With the Right Structure
While we often want to start as we mean to go on, there are learning curves ahead that means we’re not where we need to be, but we have to start somewhere. The flip side of that is that things will be easier in the long run if we can build the right foundations.
The answer to this conundrum is always research and get expert help. There is no way we can become an expert and get where we need to be overnight. Whether it is choosing a savings account or establishing a business structure, we can find an alternative way to the best outcome.
The aim is to complete enough research to be able to consult an expert and make an informed decision. Consulting an expert could mean speaking to someone at your bank or checking out a comparison website. Alternatively, in terms of business structure, it could be paying a visit to a tax lawyer.
Scheduling Your Tasks
The right foundations will have hopefully set you up for a situation that you can make the best of. Whether that is saving the most money, getting the best interest, or having a company that can expand while still paying the right amount of tax.
Finances, much like many other tasks in life, can’t simply be completed in one instant and then left to their own devices. Every now and then, you’ll need to check in on them and complete some tasks to keep things running smoothly. It doesn’t need to be time-intensive, but if you keep on top of it, life will be much easier.
These tasks could include making monthly payments into your account to qualify for interest or filing your annual taxes. Adding them as a reminder to your calendar is a good first step, or you could automate the whole process. Your bank may provide a service to transfer a certain amount of money each month.
The key is to set aside enough time to deal with these small jobs when they need to be done. It’s much quicker in the long run, and you’ll get more experienced as you go along. Keeping your main goal in mind can help motivate you when working on more routine bookkeeping activities.
Calculate the Benefits
The reason this article needed to be written is that it’s so easy to get weighed down with the smaller tasks and lose sight of your purpose and the things you enjoy. Finding the middle ground where you keep an eye on the little tasks but stay focused on what you want to achieve is where you need to be.
Once you have started with the right structure and scheduled your tasks, it’s time to look up and refocus on the life you want to build with your finances. Work out what your approach is going to provide for the next year and think of it as your personal finance forecast.
Now is the time to grow your business or plan how you are spending your savings. Celebrate your progress that is thanks to your organized approach. Assess how far it has got you, and enjoy the moments where you can start reaping the rewards
It turns out that changing your attitude to personal finance and administrative tasks can help when it comes to completing the jobs that need to be done. It isn’t necessary to enjoy these tasks, to look forward to them, or to give them too much time and attention. However, accepting that they are part of the process of achieving your goals helps them to slot into the bigger picture.
Reframing these tasks as something that you can handle with a small amount of time on a regular basis will set you up to succeed. If you associate the positive consequences of having more money or a business that can expand, you’ll be less reluctant to tackle the small stuff.