The LifeMap is designed to get you asking questions. These questions will hopefully lead to helpful insights into areas of your life, maybe they will move you to a new decision about a relationship, a job, or your finances. My hope is these blog posts will get you thinking and begin to help you evaluate these areas of your life and make some great changes. In this post, I want to touch on the subject of saving money.
There are so many opinions on money out there how to make it, how to spend it, how much to save, where to invest, but ultimately your opinion will be the one impacting your decisions the most. Dave Ramsey has been quoted to say, “Personal finance is about 80 percent behavior. It is only about 20 percent head knowledge.”
You Don’t Get to Keep It
The funny thing about money is, we don’t get to keep it. No matter how much money any of us make it all goes away at some point. This reality makes me step back and think about how I use the money I earn. What value can I add to my life, my family, and others with the money I spend?
Every dollar you earn will eventually be spent, whether it is by you or your family, or someone else, all your earned money will be spent. You can choose now to put a name on each dollar (as best as you can), or you can let your hard earned money find its own way. The choice is yours.
Through the LifeMap process you will create an awesome financial map for you and your family, you can look forward to all the rewards that will come your way as you ask yourself the hard questions and put in the hard work to save for the right things and invest in the right ways.
Warren Buffet is one of the greatest financial minds of our time here is what he had to say about saving:
“Do not save what is left after spending, but spend what is left after saving.”
– Warren Buffet
10 Thought Provoking Ideas
Here are 10 ideas and questions to get you thinking about: Where am I? I encourage you to use these as a catalyst for changing your financial situation as you discover the work you need to do to get to where you want to go.
- Do you have any debt (credit card, car, house, boat, etc.)? How much?
- How do you generally spend your money?
- Are you giving to charity?
- Describe someone who is wealthy
- What is your perspective on your current wage at work?
- Does your current work situation provide what you need financially?
- Does your current work situation provide what you want financially
- Explain your current savings situation.
- How are your finances affecting your family?
- Do you have a budgeting system in place?
I hope this list prompts you to evaluate where you stand financially. Not just your bank account, but your definition of wealth and being healthy financially. I believe these questions will help get you started on understanding where you financially and lead you to begin answering the second LifeMap question: Where do you want to go?
Share on twitter or comment below some of your thoughts.