In The One Page Financial Plan, Carl Richards approaches personal finance from the ‘why’, instead of the ‘how’. He stresses the importance of figuring out why money is important to you, and what you want to accomplish from this. This lays out the foundation for setting goals that are appropriate for you, rather than cookie cutter goals that the financial industry thrusts on you.
Examining the underlying motives in your financial plan is absolutely a good idea. Not only does it better equip you to plan for your future, but it also helps you see how money habits that you have today may not fit in with your core values. You may discover that you are spending money on things just out of habit or because everyone else does it.
While I do strive to only write accurate information and dispense valuable advice, I am not a licensed financial adviser. All information is based solely on my personal experience and personal research and should be treated as such. Find out more.