Managing your money wisely is the first step to Financial Clarity and Confidence, and the first item is to know your money values. Let me guess, money values probably isn’t what you expect to discuss with a financial professional. Most people assume they will have a conversation about budgeting, savings, investments, or how much they need to save for retirement. All of that does need to be talked about, but it’s not where the money conversation needs to start. What needs to be discussed first is what’s really driving you when it comes to money.
Your attitudes about money are what define everything that matters about your personal financial situation:
- how much money you need;
- how hard you are willing to work for it;
- how you will feel when you finally get it.
Once you understand what money really means to you, you will be powerful.
So what are values? They are the most important things in life. They’re what you’ll do just about anything in the world to achieve – because ultimately they are truly who you are.
Values are things like security, freedom, happiness, making a difference, mindfulness, well-being.
In contrast, goals are what we do with our money like paying off debt, saving for mortgage or college or retirement.
Without values, goals rarely get accomplished. Values are the key. When you understand them correctly, they will pull you toward your dreams.
Money is not an end in itself. It is merely a tool to help us achieve some particular goal. If the way we handle our money conflicts with our personal values, we are not going to wind up living happy and fulfilled lives.
The first question to ask yourself is, “What’s important about money to you?” Remember to answer with a value (not goal). As you continue asking yourself and moving up the Values Ladder you will determine the ultimate value driving your money beliefs.
After you determine your money values, you can set goals in alignment with your money beliefs.
After taking the Money Values Quiz, my client realized she had been focusing her time trying to increase her income, but in reality she had been spending money on things that had nothing to do with the values that were important to her. Once that became clear, she found it much easier to cut back on unnecessary expenses, and experienced an inner peace because she was spending in alignment with her values.
Values are what we believe in; they are what motivate and shape us.
If you want to dive deeper into determining your money values, schedule your free Discovery Call with me.