The new year is a great time to take stock of your life’s direction. Review what’s going right and what’s gone off course in your life. Sit down and REALLY think about what you value most. Maybe it’s family. Maybe it’s travel and new experiences. Maybe it’s giving back or solving a societal issue. Ask yourself this question: “Am I moving toward my ideal life or away from it?“
If you’re not moving toward your ideal life, then make changes. Take one step in the right direction. Part of those changes can be budgetary. Are you allocating money to the things you care most about. Ask yourself these budget questions:
- How can I spend money on things/experiences to better align your finances with your vision for the future? Example: You really love the theater, so maybe make it a priority to see more plays at the Fox Theater.
- How can I invest and save for my vision of the future? This could be changing careers / moving to a new city or house / saving for a trip / planning for retirement
- What are areas that I spend money on but I don’t really value? Can I cut these out of my budget (or reduce them)?
Going through this process helps to ensure that our monthly spending aligns with our long term vision for the future.