Money touches all aspects of our lives. It has the power to bring us great joy as well as ruin. The topic of money implicates the full spectrum of emotion, so it’s no wonder money causes more marital conflict than perhaps anything else. Learning to wisely manage money with a partner is something not taught to most of us, let alone modeled for us in a healthy way.
For far too many people, finances are an obstacle standing in the way of one’s goals.
But done right, your finances give you the freedom to pursue your goals. This does not necessarily mean being wealthy, but wisely managing your financial situation—whatever it may be—to achieve financial health, giving you the means and opportunity to pursue your goals.
Here are five essential principles for achieving financial freedom.
All right, 2017, let’s get down to business. If you followed my advice in December and set your goals for the year, it’s time to take the next step and talk about becoming more mindful with your finances. There are a plethora of helpful how-to books and blogs on personal finance, but far more important to your financial well-being is improving your relationship with money. The behavioral side of money is much harder to understand and control.
There’s a wide spectrum of professionals who call themselves financial advisors. You need to know how to tell the difference between pure salespeople selling products and advisors committed to providing quality advice and acting in your best interest. Also, if you or a loved one works in public service, don’t miss the New York Times article below highlighting the pitfalls of some 403(b) retirement plans.
I recently read Marie Kondo's book, The Life-Changing Magic of Tidying Up. I highly recommend it. Tidying up your home and managing your finances have a lot in common. Kondo encourages you to keep only what "sparks joy". I believe the same applies to your money. Your saving, spending and giving should be focused on what “sparks joy.”