Nowadays, one possible certainty is that time and money are intertwined, including the ways of managing them. For this, we understand that financial planning should focus on achieving your dreams, through the proper management of your financial resources .
So, check out some useful concepts and reflections for balancing time and money below:
1 – DOWNLOAD:
Taking notes always helps. Whether on paper or on some electronic device, making a to-do list brings clarity to ideas, reduces anxiety and allows you to set priorities. In terms of financial management, it would be like making a budget, taking an x-ray of your financial life, and finding out where the money is going at the end of the month and what your income and expenses are.
2 – PLANNING:
It gives a vision of what should be done and how it should be done. In addition, it collaborates to reduce risks and predict results, avoid surprises and anticipate urgencies, bringing a less stressful life. Planning is at the heart of efficient and organized financial management – both at the business and personal level. This way you can visualize where you are and where you want to go.
3 – ANTICIPATE:
Anticipating everything that could cause problems and knowing how to deal with unforeseen events reduces urgencies and allows you to focus your time on what is important. When there is financial planning, we manage to have a plan A, B or C, as well as an emergency reserve – which we all should have. This is the anticipation of good financial management.
4 – PRIORITIZE:
Order the execution of tasks and commitments, separating what is urgent, important and circumstantial. In this way, we reduce urgencies and circumstances and focus on what is important. Example: when I do financial planning , in addition to finding out where I am, I define where I want to go. For this to happen, the first step is the need to set goals (by discovering my dreams) . And for them to come true, the goals need to be realistic, otherwise we will live on utopian dreams.
5 – BALANCE:
Know how to dose, give time to work, leisure, family, everything that is important to you. This is the key to not regretting it in the future, always remembering that, unlike money , we cannot make up for lost time . So make the present count, because we don’t know tomorrow. For a healthy financial life, it is necessary to balance, discover what is vital within your expenses and what is superfluous. The solution is not to completely cut spending on leisure or things that are not necessary, but they are good for us, as this will generate other problems.
Extremism in either spending too much or saving too much is not good. We must have balance, because this is the best answer to find our Financial Happiness .
Do you want to know more about this new concept of planning, which focuses on happiness? Keep following our John Labunski, we will have more news soon!