Sure, financial stability is important.
Obviously, its responsible and it gives you options, but thats a pretty vague reason.
To draft a better financial plan, ask yourself what moneyreallymeans to you, individually.
We want to come up with a plan to get our finances in order.
during the planning process.
In fact, keep asking Why?
until you get a personalized answer about what money means to you as an individual.
You want to learn why, specifically, money is important to you.
Your initial answer might be freedomthats common.
But freedom from what?
Maybe you want to spend less time working so you have more time to yourself.
Butwhydo you want more time yourself?
What would you do with it?
The answer will be different for everyone, but thats kind of the point.
Whatever your answer,thatshould be the foundation of your financial plan.
Richards explains:
The purpose of asking Why?
isnt to come up with specific goals or plans of action.
Its meant to reveal the reason why you have certain goals.
Expect the first answers to come fairly easily.
When I was in debt, I wanted to get my finances in order.
Because I wanted to stop worrying.
I had other things I wanted to do with my life, like take on a different career.
This gave my finances a sense of purposeand it kept me motivated.
it’s possible for you to check Richards book out at the link below.
The One-Page Financial Plan
Photo byAlexey Krasavin.
