Ep. 3 - What Purpose Do You Have For Your Finances?
Ep. 3 - What Purpose Do You Have For Your Finances?Posted by Facebook on October 23, 2018
When I was younger, I used to put all my money into DVDs and CDs. Now, as you can imagine, not many of them are of use anymore. But at the time, owning the new albums of my favorite bands felt super important to me. This was because I didn’t have a clear purpose, vision or goal for my finances yet. I went into the default mode and bought what most people my age bought with their money. My habits were just around buying things for the entertainment value.
I’ve found that when I have a vision and financial goals I want to reach, my habits start to change to support that vision automatically. I’d like to ask you today, what purpose and goals do you have for your finances?
It might be to get out of debt. In that case, you can change your habits to work on that. It might be that you want to save money for a holiday, so you’ll start putting your money towards that. It might be investing and wealth creation, so you’re going to build capital and make that money work for you.
Soon, you’ll start to notice a difference in your thinking whenever you encounter small or big things you might want to buy. If you have clear goals and you’ve written them down, then you’ll start to second-guess every purchase that doesn’t support your goals. That’s why having a clear purpose for your money is so important.
What vision do you have for your finances? I’m excited to read your comments.