A discussion of what I believe is the key to financial contentment!
Podcast Title: Financial You–Part 4
Podcast Series: The Maven’s Keys to Financial Contentment
The Maven’s Keys to Financial Contentment is my idea that true financial contentment can be found when an overlap of money and beliefs occur. Many people ask the question of how to be “financially content” and this is a discussion to uncover those answers.
What makes up financial you? Is it your money? How do you feel about it? Are you happy? Are you content? If you are or aren’t content do you know what is making you feel that way?
I believe a lot of people ask these questions internally, everyday and don’t always have answers. Here are 4 steps to uncovering answers to those type of questions.
ASSESS, ADDRESS, ADJUST, ACHIEVE
A brief review of the rubric. These are the questions I believe a lot of people ask internally, everyday. And so to find those answers we start with an…
Assessment because it identifies the gaps between where we are and where we want to be. So stop right now for a minute and close your eyes and just think about this: If you had unlimited resources (money were no object), what would you do? Because this is how all things work from that place inside you…think about who you love, what you dislike, all your passions. These emotions emanate from the same place. So the assessment exercise is huge.
Next you address
and own up to these gaps. You have to own the space between where you are and where you want to go. You are responsible for closing this gap. Remember the example about weight loss I have you in Part 2
and Part 3
Next you make the necessary adjustments. Going back to our weight loss example–will you diet, exercise or both. With your finances you have to maybe adjust your spending or save more.
And finally, achievement…which is where we all want to be. I think it is a simple answer but more difficult in application. So you have this goal, and in your mind you think you know how to get there.
Often I think our brains can get in the way of our actions, but the key to achievement is in a change in your behavior.
Especially in the first 21 days where you see limited or no results. But to get to your goal…remember the picture we formed with our unlimited resources…you have to do the work of behaving correctly.
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Dominique Henderson, CFP® is founder of DJH Capital Management, LLC., a fee-only, registered investment advisory firm specializing in comprehensive financial planning and wealth management.
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