In a world filled with investment tips, frugality advice, and a million other ways to make more money, there’s very little time dedicated to asking the big picture questions.
Why are we doing this? What’s the ultimate goal? And are we really taking the best path to happiness?
Too often I run into people who are doing all the right things with no long-term goal in mind. They know they want to be wealthy. They just don’t know why.
Most of the population doesn’t have that problem. They’re suffering from the exact opposite. They know what they want to do. They just can’t figure out how to afford it. They don’t make the connection between a lack of money and their unhappiness. Or worse yet, they’re paralyzed in fear, worried to do anything about it.
Everyone can benefit from attaching goals to their financial plans. It’s not just enough to invest for long-term growth or get out of debt. There must be a tangible reason for doing these things too. Without that inspiration, the goal will inevitably get off track.
Think about somebody in debt who yearns to travel. If they promise themselves a big exotic vacation after paying off student loans, I guarantee they’ll have better results than if they’re just going through the motions, doing what they’re supposed to do.
Ultimately, this comes down to making a good financial plan, a document that includes life goals and the means to pay for them. You’ll be much better at saving when you attach a "why" to the "how."
