What’s Your Biggest Pain Point?
There is typically one area where most people feel the pain of not having enough information to resolve their money issue.
This year when we asked the question, the answer came back with a number of issues which we have been revealing over the past few weeks:
1. Understanding the role of money
This week we will dive into the final topic of: Budgeting properly to balance standard of living with savings.
Budgeting is always one of those words that is tough to swallow. Like dieting!
If we re frame it to lifestyle choices or healthy living it’s much more empowering. The same is true with budgeting.
We work with a process called Dynamic Planning.
It’s based on the principle of future pacing which simply means it’s based on your goals and dreams rather than restrictions.
First, we want to know where you want to get to and by when. These are your goals, your visions, your dreams.
These are gifts just for you, your calling in the world of what you want to create and how you want to live out your days.
Next we take a look at where you are. This is not a conversation; this is a black and white picture of where you are today.
The biggest challenge with this for most people is they have a lot of negative thoughts about what it means to be where they are today.
The truth is, it just is what it is so now what!
Once you know where you are you can create a plan to close the gap between where you are today and where you want to get to.
You will run the numbers that are associated with getting there.
So if saving is a goal, define it by choosing a number of how much savings you desire and by when.
Now back into it, what you need to save on a weekly or monthly basis to achieve this.
-How will this impact your spending in other areas?
-Is this okay for you or do you want to make another choice?
Choice is where freedom lies.
Once you decide the numbers that are OK with you and life works on all levels then when you are presented with a choice along the way, and you will be, you can make a decision based on your goals and numbers.
You can decide if you want to adjust your plan (which is why we call it dynamic) or not.
You decide on your standard of living.
You decide your savings.
It’s quite empowering to be in the driver’s seat of a dynamic plan!
Each year at our Players Club Retreat we spend time in a beautiful setting creating a Dynamic Plan.
If you would like to join us you can learn more about it HERE.
