37. Finances 101: 10 Perspectives - From my point of view. 11. Five Perspectives: Financial Goals. G
The past few weeks were spent talking about the main values I hold when it comes to finances and the goals I aim to achieve. Which do we focus on first? Second? Third?
The thing about these areas is we need to focus on them all. At the same time? Yes. Impossible? No.
I personally believe that we need to have a balanced view, with a set of balanced goals to achieve a balanced portfolio.
So what are the areas in which we are trying to balance?
Tithing or Committed Giving
Earning as much as possible
Spending as little as required
Protecting yourself, family and assets
Planning what you will leave behind
Planning for retirement
Planning for emergencies
Investing for the future
How do we balance all the above? Bit by bit
This balancing act should not be about concurrently spinning plates to keep them all afloat at the same time. That’s dangerous.
Balancing is building a solid table so that you can lay out all your dishes comfortably and safely to be able to enjoy your dinner.
My personal tips:
Start small in every area, in the order I laid out this blog series.
Once you covered everything, increase bit by bit for every item, not necessarily in the same order, but that would be ideal.
We may revise our goals over time, but that should not change your plans dominantly.
In order to balance well, we need to perform a self check periodically. Next week, I’ll share a few practices I did in order to help.