Here is a question that I hear people make all of the time.
How do I make sure I am doing the right steps with my money?
Does that sound like you?
My response is always this; it depends on what kind of life you are trying to build.
The thing that probably won’t work? Thinking you can do everything you see your friends, and neighbors do without regard to how it will impact other areas of your financial life. That type of approach will, without a doubt, break your financial plan, and lower the probability of success both now and in the future.
The solution: Know your priorities in life. Know what is most important to you and your spouse so you can be very targeted on how you allocate your finances.
Below are three facets of life that I improved on over the past six months without having to spend more money.
- Health- I had to cut down on my going out to eat spending so I could find room in my budget for a gym with a coach, and to buy healthier food- Best money I have spent in a long time.
- Family- We planned our trips in 2019 centered around our extended family.
- Leisure- I make sure to get out of the house every week to go and see friends.
It does not matter how much money you make; what truly matters is how you spend it. Stop spending so much time trying to make more money and start spending more time thinking about what makes you happy and focus your spending in those areas.
If you're willing to take time to reflect on your finances, a whole world of opportunity and possibility opens up.
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About Nestor Vargas:
For more than a decade, Nestor has helped his oil and gas professionals define their personal financial values to help build a plan that centers on rewarding outcomes. The journey, he believes, is every bit as important as the destination. He established Green Mountain Planning as a fee-only financial firm to avoid the pitfalls and conflicts of interest found in other agency settings. “I work for you, not any company or product.”