The Right Way to Think About Money

The right way to think about money starts with not thinking about money. Instead, ask yourself what brings you the most joy and the greatest peace. When you have the answers, it's time to plan.

Your values need to be reflected in your investments and written into your balance sheet. Do you dream about opening a nonprofit art studio? Then that's a line item to fund. Planting an orchard? Flying a stunt plane? Line items. We'll help you create a financial plan that's practical and heartening, with achievable milestones.
 

A few examples of personal milestones

Family experiences

You want to introduce your children to relatives in Europe, or to volunteering in the Philippines.

Education

It's never too late for that master's degree in German.

Adventure

First you fund the boat, then you sail the Inside Passage.

Financial independence

This is probably the most popular milestone. The big – and fun! – question is: once you achieve it, what do you want to do?
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      Financial Satisfaction Survey

       

      Directions: The statements below will help you to think about and assess how satisfied you are with many aspects of your financial life. Indicate your level of satisfaction for each statement with stars.
      (1 star = "Not Satisfied", 3 stars = "Moderately Satisfied", 5 stars = "Very Satisfied")

      I am satisfied with...

      1. ...with my ability to meet my financial obligations

      2. ...with the income my current job or career provides me.

      3. ...with my spending habits.

      4. ...with the level of debt I carry.

      5. ...with the “extras” that I am able to buy for myself and/or loved ones.

      6. ...with the level and quality of insurance protection I currently have.

      7. ...with the amount of money that I save and invest on a regular basis.

      8. ...with my current investment choices.

      9. ...that I am on track to build a sufficient retirement nest egg.

      10. ...with the level of employee benefits I receive.

      11. ...with my style of personal bookkeeping and financial record management.

      12. ...with my ability to provide financial help to family members.

      13. ...with my estate plan.

      14. ...with my level of charitable giving.

      15. ...with the level of financial education I have attained.

      16. ...with how I respond emotionally to my personal finance issues.

      17. ...with my ability to communicate about my financial matters.

      18. ...with the feelings I have about my money life.

      19. ...that financial issues do not cause stress or strain in the relationships that are important to me.

      20. ...with the working relationships I have with my financial service providers (i.e., insurance agent, banker, broker, financial planner, accountant).

      © 2002 - 2018 Money Quotient, Inc. All Rights Reserved. This document is available via licensing arrangements with Money Quotient and is protected by federal copyright law. No unauthorized copying, adaptation, distribution, or display is permitted - moneyquotient.org.

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      Life Transition Survey

       

      Directions: In each section, select the transitions that you are currently experiencing and those you are likely to experience in the future. In addition, check transitions in the short to mid-term and long-term columns that you either hope to experience or anticipate with concern.

      Work Life Transitions

      1. Change in career path:

      2. New Job:

      3. Promotion

      4. Job loss

      5. Job restructure

      6. Education / retraining

      7. Sell or close business

      8. Transfer family business

      9. Gain a business partner:

      10. Lose a business partner:

      11. Downshift / simplify work life

      12. Sabbatical / leave of absence

      13. Start or purchase a business

      14. Retire:

      15. Phase into retirement

      16. Other

      Financial Life Transitions

      1. Purchase a home:

      2. Sell a home:

      3. Relocate:

      4. Purchase a vacation home / timeshare:

      5. Re-evaluate investment philosophy:

      6. Experience investment gain:

      7. Experience investment loss:

      8. Debt concerns:

      9. Consider investment opportunity:

      10. Receive inheritance or financial windfall:

      11. Sell assets:

      12. Other:

      Family Life Transitions

      1. Change in marital status (marriage):

      2. Change in marital status (divorce):

      3. Change in marital status (widowhood):

      4. Expecting or adopting a child:

      5. Hire child care:

      6. Child entering adolescence:

      7. Child with special needs:

      8. Child w/pre-college expenses:

      9. Child going to college:

      10. Child getting married:

      11. Empty nest:

      12. Family special event (Bat/Bar Mitzvah, anniversary party, trip):

      13. Helping and/or gifting grandchildren

      14. Concern about aging parent

      15. Concern about health of spouse/partner or child:

      Legacy Life Transitions

      1. Increase charitable giving:

      2. Give special financial gifts to children/grandchildren:

      3. Give parental pension (monthly stipend):

      © 2002 - 2018 Money Quotient, Inc. All Rights Reserved. This document is available via licensing arrangements with Money Quotient and is protected by federal copyright law. No unauthorized copying, adaptation, distribution, or display is permitted - moneyquotient.org.

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