Dream It. Plan It. Do It:


Live Your Values and Achieve Your Financial Goals


By Caroline Wetzel, CFP®


logic is that you make time in your sched- ule for the people and activities that are most important to you. We can apply the same approach to your fi nances. What you choose to spend your money on is a refl ec- tion of what is important to you.


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Just look at your expenses on your credit card statement. If you value conve- nience over cost, you may see a greater proportion of your food expenses used for eating out, rather than buying groceries and preparing meals at home. If you prioritize function over form, you may discover that you do not spend a signifi cant amount of money on a regular basis on new, fashion- able clothing.


Yes there are a few universals in life.


We all need somewhere to live. We must eat. We have to engage in some degree of self-care. And we have to be able to pay our bills. You know as well as I do that how much each of us spends on these necessities varies dramatically from person to person according to each individual’s priorities.


That’s why it’s so tough for some couples to deal with fi nances together. For instance, many couples agree that saving money is important, but they may struggle to agree on how much they should save for different areas of life. One person might think that it’s most critical to save for retirement, whereas the other partner might believe it’s more important to set aside money for their children’s education.


30 Natural Nutmeg - October 2018


ave you ever heard the saying that you can tell what your priorities are by looking at your calendar? The


Unless both partners acknowledge that they value savings differently and agree on how much they are willing to set aside for each priority, they may struggle to follow a sav- ings strategy for either themselves or their children.


Once you realize for yourself that ef-


fective money management boils down to aligning your values with your savings and spending behaviors, you will experience a renewed sense of confi dence, control, and comfort with your approach to your personal fi nances. The following are a few strategies that you may fi nd helpful for identifying your values and aligning your personal fi nancial behaviors to them.


Start With What’s Important Give yourself a little time and space


to refl ect. It’s okay if thinking about your values and your fi nances stirs up different emotions for you. For many individuals, these topics are deeply personal and are often connected with other signifi cant top- ics, like family, spirituality, and the purpose of life.


Start by asking yourself one question: “What do I need to pay for in my life?” Observe whatever bubbles up for you, and write this down. Close your eyes, breathe in deeply, exhale slowly. Then ask yourself the question a second time: “What do I need to pay for in my life?” Allow different thoughts to emerge, new views on what needs might exist, and then write these down along with your previous answers. Close your eyes, breathe in deeply, exhale slowly. Then ask


yourself the same question a third and fi nal time: “What do I need to pay for in my life?” Notice anything else that reveals itself. Perhaps it’s an image, a person, or a feeling. Experience this fully, and then document it along with your other answers.


Then repeat this same process for 2 more questions:


• What do I want to spend my money on?


• How do I wish my fi nancial life could be different?


If no answers to these questions emerge


for you, refrain from judging. Allow space for your thoughts and feelings to process each question. If still nothing bubbles up, ask other, related questions that will help you uncover more information for yourself. For example, if you struggle to connect with “How do I wish my fi nancial life could be different?” consider asking instead “How do I wish my life could be?”


This introspection is intended to pro- vide insight into your fi nancial and lifestyle values so that you have increased clarity around what is important to you. If you are in a relationship, invite your partner to complete this exercise, too. It may be infor- mative to your partner and the two of you can share your answers and discuss where you have similar needs, wants, and wishes for your lives.


Explore Your Finances


Next, collect the last few months of your various fi nancial statements. Take a


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