Money, Keeping Your Eye on the Big Picture

When it comes to money, don’t focus too much on the little things. Sure, if you do the smaller things right chances are you’ll be likely to follow through on the more important larger tasks. However time is money and if you spend a significant amount of time focusing on the little things like refinancing your mortgage every time interest rates drop or attempting to increase the return on your investment accounts by a fraction of a percentage or attempting to save that same fraction on investment fees and commissions, you’ll risk losing sight of your financial big picture. Making only a few major decisions correctly is far more important to your financial future and overall financial health than getting many small decisions right. So be sure to heed the old adage, don’t be penny wise and pound foolish. To help you keep your eye on the big picture, the following steps should assist you in staying on track:

Step 1 – Do Your Research

Get your hands on as much information as possible. Between the internet, investment newspapers and periodicals and the library you shouldn’t lack for solid, useful information.


Step 2 - Don’t Fear Decision Making

An important step is making the decision to develop a plan and to stick to it. Making mistakes is part of the process but you must learn from them so as not to repeat them and make better decisions the next time around. If you complete step one, you will reduce the likelihood of making a very costly one.

Step 3 - Set Both Long and Short Term Goals

Establish a plan and prioritize your goals so you know where to apply the majority of your time. You need to manage where you put your investment energies just as you do in other areas of your life.

Step 4 - Be Flexible and Nimble

Recognize that there isn’t one correct answer to your money and investment questions and problems. You can only make the best decision possible based on the information you have at the time. If you make the wrong choices, cut your losses quickly and move on.

Step 5 – Review Your Goals and Your Progress Frequently

Once you’ve established and begun executing your plan, your work is not over. You must check your progress at least annually but preferably quarterly. If an investment has gone south, know when it’s time to sell and get out. Consult with your tax advisor if there are any tax implications for you so you may complete your sale at the most tax advantaged time. Then after some reflection, analysis and research move onto the next opportunity.

Nancy Osborne, Nancy Osborne has had experience in the mortgage business for over 20 years and is a founder of both ERATE, where she is currently the COO and Progressive Capital Funding, where she served as President. She has held real estate licenses in several states and has received both the national Certified Mortgage Consultant and Certified Residential Mortgage Specialist designations. Ms. Osborne is also a primary contributing writer and content developer for ERATE.

"I am addicted to Bloomberg TV" says Nancy.

To Save, Give Up Unnecessary Spending For Lent

Releasing the Inner-Millionaire in You

Money Management Practices Worth Following

Money Management - Why Budget?

Money Management - Creating a Budget (Part 1)

Money Management - Creating a Budget (Part 2)

Money Management - Creating a Budget (Part 3)

How Much Money Will You Need to Retire?

What's Your Investment Personality?

Do Yourself a Huge Favor: Save 10%

An Emergency Reserve Account

Tips on Developing a Recession-Proof Lifestyle

Fannie Mae & Jumbo Mortgage Rates

Just One Click! = Current Rate Chart

Pennsylvania Mortgage Rates Current Mortgage Rates - Hawaii Current Mortgage Rates - Alaska West Virginia Mortgage Rates Virginia Mortgage Rates District of Columbia Mortgage Rates Maryland Mortgage Rates Delaware Mortgage Rates New Jersey Mortgage Rates Connecticut Mortgage Rates Rhode Island Mortgage Rates Massachusetts Mortgage Rates New Hampshire Mortgage Rates Vermont Mortgage Rates New Hampshire Mortgage Rates Maine Current Mortgage Rates Vermont Mortgage Rates Current Mortgage Rates - New York Current Mortgage Rates - Michigan Current Interest Rates - Wisconsin Current Mortgage Rates - MINNESOTA Ohio Mortgage Rates Current Mortgage Rates - Kentucky Current Mortgage Rates - Indiana Illinois - Current Mortgage Rates Current Mortgage Rates - Iowa Missouri Mortgage Rates Current Mortgage Rates - North Carolina South Carolina Mortgage Rates Current Mortgage Rates - Florida Current Mortgage Rates - Georgia Current Mortgage Rates - Tennessee Current Mortgage Rates - Alabama Current Mortgage Rates - Mississippi Current Mortgage Rates - Louisiana Current Mortgage Rates - Arkansas Current Mortgage Rates - Oklahoma Current Mortgage Rates - TEXAS Current Mortgage Rates - New Mexico Current Mortgage Rates - Arizona Current Mortgage Rates - Kansas Current Mortgage Rates - Nebraska Current Mortgage Rates - Colorado Current Mortgage Rates - Wyoming South Dakota Mortgage Rates Current Mortgage Rates - North Dakota Current Rates - Montana Idaho Current Rates Washington Mortgage Rates Current Mortgage Rates - Oregon Current Mortgage Rates - Utah Current Mortgage Rates - Nevada Current Mortgage Rates - California

Start by selecting your state

Get the Updated and Improved Mortgage Rates App from

iPad for Mortgage Rates

Refinancing: Getting Started

Refinancing Info and Advice

Refinancing: Selecting a Loan

FREE Mortgage Rate Widgets
Your State's Rates or National Rates
Get this Widget for any State you want