We get too busy with our lives to worry enough about money. The problem is that our lives are often so busy because of money. This is something that happens all too often. I say "we" because, even though I'm a financial advisor, I have the same problems.
Like most people, I'd like to live a life where someone else does the things around the house and at work that I don't want to do. I'd also like to be able to work at a job that is emotionally rewarding and challenging, spend time with my wife and kids, and have some free time to do whatever I want.
Given these financial goals, I often wonder what I (and my clients) are doing to work toward these goals. Most of my clients and I spend a lot of time doing things around the house and office that we don't want to do. I come up with reasons why I don't hire someone to do those things.
I usually spend my days at work pushing paper and setting up accounts instead of doing things that are both emotionally meaningful (like giving money to good causes) and challenging (like making complicated partnership agreements). But I haven't spent much time thinking about how to fix this problem. When I think about these things, I often find ways not to deal with them (such as "if I want it done right, I have to do it myself").
I spend a lot of time at work, and even when I'm at home, I do things that keep me from my wife and kids (such as mowing the lawn or repairing a leaky faucet). I could easily hire someone else to do this kind of work, but I always end up doing it myself.
I'm interested in a lot of things, like coaching my son's soccer team, reading old books (especially thrillers from the 18th century), and fixing up old Volvos. Aside from coaching, I can never find time to do the things I like.
You might be wondering at this point, "So what does that have to do with money?" The answer is that it has to do with money in every way. Every choice depends on either making more money or spending less. That's the catch. The dirty secret that most people don't talk about. Money can make your life better if you use it right.
One thing I tell all of my clients about money is always the same: your money is your happiness. If you protect your money, you will protect your life. People will naturally take this advice in different ways. The "do-it-yourselfer" might take this to mean that they should be cheap and save every penny so they can have a better life in the future. People who "fly by the seat of their pants" might take it to mean that they should spend everything they have to make today better.
They are both right, though. Every person can and should think about what's important to them. They should make a plan (by writing it down) based on what's most important to them. They should take steps over time to make sure the plan is fully carried out, and they should look at the plan every so often to make sure they are still working toward goals that are important to them. This is what I try to teach my clients and what I try to do myself.
I spend more time with my family at home, and I hire people to do some things that I could do myself. In short, I make myself do things I normally wouldn't do. After thinking about what I wanted and what my wife wanted, that was what was important to us. Having made a lot of progress toward these goals, I can tell you that my life is a thousand times better now than when I started. I'm sure that in the future, it will be a thousand times bigger.
This is what it means to really plan your money. I urge you to think about your goals if you haven't already. If you haven't talked to a financial expert about your goals yet, I strongly suggest you do so today. Once you start making progress toward your goals, you'll wonder why you didn't do it sooner.
