I think it’s important to focus on simple, achievable goals. As such, here are my top five financial priorities and principles -
- I will maintain adequate cash reserves, sufficient to replace my income for 12 months.
- I will remain debt free, paying upfront for all purchases.
- I will save for retirement, focusing on both pretax and after-tax accounts.
- I will teach my children sound financial principles, and help them pay for college.
- I will look for opportunities to bless others, both with my finances and my time.
- I will live on a budget.
- I will respect every dollar that I make, and the work that went in to making it.
- I will look for opportunities to save more money.
- I will look for opportunities to earn more money.
- I will value people more than possessions.
As I work my way through each month, I keep each of these principles and priorities in mind. I’m constantly asking myself -
Am I making decisions consistent with my priorities and principles?
It is easy to fell overwhelmed by the amount of information and financial noise. For me, it’s imperative that I remain focused, keep things as simple as forward, and stick to my priorities and principles.
How about you? Have you created or thought about a list of priorities or principles? If so, leave a comment and share.
*This list does not include my regular giving to my church.