A Financial Plan Lacks Value Without a Spending Strategy
The Key to Financial Success
We all desire financial success. Many people link this success to their investment portfolios. But a solid investment strategy is only 25% of a solid financial plan.
Understanding Your Spending
Another 25% comes from an area where we often avoid clarity: our spending. This may stem from a wish to enjoy life today. Or, a false belief that knowing our spending means we must limit it.
Instead, knowing where your money goes will help you find joy in every dollar you spend.
The Joy of Understanding
Yes, you read that right! Knowing why you're okay with your spending will bring you joy with every dollar.
How Does This Happen?
A successful financial plan starts with your spending plan. Then, every dollar you spend helps your current and future financial success. You know this because it is part of your plan.
Of course, we allow some leeway in our plan for opportunities and unforeseen events. To achieve financial success, an adjustable spending plan is more effective than having no plan at all.