-6. Clarify Your Goals and Priorities
Managing cash flow (budgeting) is all about balancing priorities – you’re taking limited resources and allocated them to the areas that are most important to you. This exercise is key for your overall financial planning too.
Before getting started on your investing, take a few moments to think about what is really important to you…
If you spend time thinking about it (and honestly many people haven’t) you likely have one big top priority. Some people can quickly tell you what their driving dream is, but many people need to spend time on this. Understanding what is really important to you can have a huge impact on planning all parts of your life and the actions you take when presented with different options.