Balancing your values, priorities and goals - a process for Making Wise Financial Decisions
There are no independent financial decisions. If you spend money on a vacation it is no longer available to fund your retirement. If you put money in your retirement you cannot spend the same money on housing costs or a vacation. You get the idea.
When faced with competing priorities do you have a process that will help you make wise financial decisions? One that helps you manage your money as a faithful steward and considers your values, priorities and goals?
If not, give this a try –
Start by defining your personal definition of “success.” What does it look like? As a Christian this includes, spending time with God on if your definition of success aligns with what he might have for you. Then work towards understanding how your current spending and savings supports those personal priorities.
Lastly apply these principles along the way; spend less than you earn, avoid the burden of debt, build reserves and liquidity and think and plan long term. (visit our previous posts on Your Pie - Understanding and controlling the pie).
So start with the above, and we know it’s not always easy to apply it to our own lives, so if you want some help seek an advisor. Remember that’s what we are here for, to help you take the deliberate steps to accomplish your priorities and support you along the way.