Quarterly Check-In: Are You on Track for Your Financial Goals?

Feb 20

We’ve all been there—January starts with enthusiasm, resolutions are set, and goals feel within reach. But by February, life happens. Budgets slip, priorities shift, and those big plans for the year start to feel like distant memories.

The good news? It’s not too late to refocus. A quarterly check-in can help you evaluate your financial progress, make adjustments, and set yourself up for success in 2024. Here’s how to make the most of your mid-quarter review.

1. Revisit Your Financial Goals

Start by asking yourself:

Am I sticking to the goals I set in January?

Are those goals still realistic, or do they need adjustment?

Life is unpredictable, and it’s okay if circumstances have changed. What matters is that you’re intentionally aligning your financial plan with your current priorities.

Pro Tip: If a goal feels overwhelming, break it into smaller, actionable steps. For example, instead of “save $20,000 this year,” focus on “save $5,000 by the end of March.”

2. Check Your Cash Flow

Review your income and expenses so far this year. Are you on budget? If not, identify what’s causing the gap—unexpected expenses, higher spending, or income fluctuations.

Action Steps:

Adjust your budget for the next few months to account for any changes.

Automate savings to ensure you’re consistently contributing toward your goals, even if you’re busy.

Pro Tip: For law partners or self-employed professionals, irregular income can complicate cash flow. Setting aside a percentage of each distribution for taxes and savings can help smooth out the ups and downs.

3. Evaluate Your Savings Progress

Saving isn’t just about retirement—it’s about preparing for all the priorities in your life. Whether it’s an emergency fund, a family vacation, or a home improvement project, check in on your progress.

Ask Yourself:

Am I on track to meet my savings targets?

Have I automated contributions to retirement accounts, like a Solo 401(k) or SEP IRA?

If you’re behind, don’t panic. Instead, focus on consistent progress moving forward.

4. Adjust for New Priorities

Things change—new opportunities, unexpected challenges, or shifting priorities. A quarterly review is your chance to pivot if needed.

Consider This:

Are there upcoming expenses you need to prepare for?

Do you have room to save more during a high-earning period?

Pro Tip: Flexibility is key to financial success. Adjusting doesn’t mean failing—it means you’re staying intentional about your goals.

5. Schedule Regular Check-Ins

A quarterly check-in shouldn’t be a one-time event. By building this habit, you’ll stay engaged with your finances all year long.

Make It Work:

Set reminders to review your goals every three months.

Work with a financial planner to hold yourself accountable and refine your strategy.

Keep Moving Forward

Your financial journey isn’t about perfection—it’s about progress. By revisiting your goals, staying flexible, and celebrating small wins along the way, you’ll build momentum that carries you through the year.

Not sure where to start? Let’s create a plan together. Schedule a consultation with Hark Financial Planning, and let’s make 2024 your best financial year yet.

Eric Scruggs