You've got dreams and aspirations...
and a shared purpose with your partner, but when it comes time to take action and put it all together, these dreams had better be good ones!
They'll need to be robust and aligned with what you truly want because it's likely they require some sort of investment.
Most of us don't have the financial freedom to do everything. There are trade offs to be made.
Imagine you want to take a step away from the career path you are on?
That's not going to be possible if haven’t aligned your family finances with your family priorities. You need to make sure you are spending on or investing in, the things that allow you to truly live the life you and your family want.
new career, New Kitchen or a trip to disney in Florida - these things take planning.
7 Steps to Financial Clarity
1. Start with a list of your family priorities / objectives.
2. Work out the financial impact for each priority.
3. How much money will they need and when?
4. How will you fund these priorities?
Save now for future spending?
Use savings now?
Borrow and repay later. At what cost?
5. Review your current finances
Each month - what’s coming in and what’s going out
7. Talk about your finances with your partner
Are you Spenders, Savers, Risk takers, Security seekers? Who controls how money is used?
7. Design your future budget
Factor in your family priorities, what needs to change to allow those priorities to be achieved
By the end of the process
You’ll have reduced your stress by understanding where your money goes.
You’ll understand how much money you need to achieve the priorities.
You’ll know what changes you need to make to make it happen.
Need some help making it happen? Book a free 20 minute call with me to discuss your options.
This blog post walks you through 5 common practical impacts of fatherhood and gives you tips to navigate your way.