After reading Kat’s comments, I thought I would attempt to dive a little deeper into why I look at my upcoming financial year (it is all about reducing bill induced stress). Plus, I am boldly going to make a pledge to do something I really don’t want to do. But, like cod liver oil, it is said to be good for me. More on that in a moment.

Planning the next year sounds daunting and even high-minded. It is neither. Instead, it is practical.

By looking forward and acknowledging what I need to accomplish in the coming year, I have a very good idea how to use the next pay cheque.

Knowing that I need about two-and-a-half thousand to pay for car insurance, sports and music lessons for my son, I can set aside an appropriate amount each month. When I follow through on this, there is no scrambling when it comes time to pay these major bills.

To make sure the money is set aside for this purpose, I transfer it to a separate savings account. That way it is easy to monitor progress at a glance and, because it is in a savings account, I think two or three times before drawing from it.

RRSP is a monthly contribution, along with other insurance bills.

So, my idea of long term planning is to set up a system to reduce worry about pending bills. Now if I was really good, I would be planning how to improve my financial lot as opposed to just meeting the bills.

Anyway, my pledge is I am going to try (once again) to track my expenses for the month of June. I did well for the first six weeks or so when I tried this before and then I suddenly stopped doing it. Now is the time to start again.