The spring rains have started in my area of the country and with it comes a refreshing perspective and view out of my living room window. I have an apple tree that is in full bloom and it reminds me that it is time to do a bit of cleaning as spring makes its presence known. Part of that financial refurbishment is to look at last year’s numbers and compare them to what I plan on doing this year. I realize many of you have already gone through the pain of taxes and you really don’t want to dwell on all that occurred in 2006, but I highly recommend that you look at the money that you spent and what it purchased along with the money you saved and how your investments turned out. 

Now is an excellent time to change your financial focus for the better. If you are at all displeased by last year’s numbers, then here are some steps that can assist you in evaluating what financial goals you need to set for the rest of 2007. 

1. Give your accountant another week to calm down after tax season and make an appointment to discuss your financial situation. What can you do to lower your tax burden? Are there any investments, accounts or decisions you need to make within this quarter to change your financial assets for the year? If you own your own business, are there some new systems you could use to make your accounting go quicker, etc. Now is the time to make changes so that your 2007 tax season isn’t so hectic.

1. Look over your financial statements for the past two years and see how your situation has changed. This is a big eye opener for many folks. Often we focus so heavily on the financial challenges we’ve had (lost job, medical bills, increased debt, etc.) that we forget all the great things we’ve done this past year (saved more money then expected, opened an IRA, or donated money to charity in larger quantities. By looking over what you have done you’ll see that you’re actually doing really well in your financial life considering the challenges you’ve faced.

1. Establish fresh financial goals. How are you doing on your savings account? Have you put as much money in your IRA as the government allows? Do you have an opportunity to save enough money to open a Money Market Account? Create a new goal sheet for your savings and set about making it happen. Forget what you told yourself you were going to do in January of this year. The point is this, set a new goal and continue striving toward it no matter if all you can save per paycheck is $20. Set a reasonable goal and do it.

1. Determine what you want. Much of the over consumption that we engage in is due to our lack of focus. What is it that you really want? Is it a $6,000 piece of art? Is it a Mickey Mantel baseball card? Is it a $14,000 antique? If you sit and really consider what you want, then you will find your savings goals easier to achieve. It is even better if you place a picture of the item you are saving for in a conspicuous place to keep you inspired to reach your goal.

By obtaining advice from financial professionals, going over your past financial statements and focusing on new goals you will give yourself an opportunity to change your financial situation by changing your choices. To change your choices, you are required to have a different perspective and if you want a different perspective you need data. So, give yourself the time to gather the data that is so near to hand. Instead of filing all those tax returns into a box and ignoring them as a necessary evil, pull out the last few years and see what adjustments you can make that will change your bottom line.