Looking at your SWOT analysis, create a post that summarizes what you found out about yourself in doing the SWOT. If you focused on a particular situation, did you learn anything new in doing the analysis? Did it help bring clarity to your thinking or possible next steps? Post a couple of action steps you are going to take moving forward.
The previous week I made a SWOT Analysis of my personal financial situation and learned a lot of new things in doing the analysis. Before I did it, I knew there were some issues with my personal finance, but the situation was too abstract, and I could not make any plan for how to solve those problems. The SWOT analysis, probably, made this situation too detailed – I was surprised to see how many strengths I had, and finally made a real list of my weaknesses. It is always uncomfortable to analyze your own weak points, especially when there is a great number of them. However, this exercise helped me to suddenly realize that all my weaknesses could be overcome. Though it can be challenging, I can learn how to deal with them and even how to get rid of them.
This analysis showed me that there are so many ways to improve my life and it’s weird that I stay satisfied with what I have and do not try to make use of the opportunities I have. This can be very helpful in creating a plan for working on my personal finance situation! Moreover, this plan is going to be extremely detailed because this analysis showed me my strong and weak points, as well as let me see the situation as a whole. There are several steps I’m going to take in the future. For example, first of all, I am definitely going to create an emergency fund. This will help me to survive during future lockdowns or pay for healthcare when needed. Another step I am going to take is developing and maintaining a realistic monthly budget. Therefore, I will be able to find the most sufficient way to take the third step – I will finally start saving money on the monthly basis. Probably, in the beginning only little by little, but all these actions will be the beginning of a better me, who will be more financially efficient.