• Follow us

Men

This is Why Your Money Should Line Up With Your Personal Values - The Good Men Project

What are your personal values? Can you answer that question? If so, is the way you save, spend and invest your money lined up with your personal values?  

In other words, when you look at how you manage your money, does what you see reflect who you are? If examined by an outsider, would they know what’s important to you?

These are questions I believe we must answer if we want our money to work well for us.

The financial media, Wall Street, and the overall financial advice industry certainly think they have what we need to manage our money. Which begs the question – do they advocate for our or their interests? Though there are many exceptions, I think it’s safe to say that, in general, the financial media and the advice industry are focused on what’s right for them (advertising revenue) than on what’s right for you (good financial advice).

Personal values and money

What we value in life should guide how we live. If that’s not the case, we may be easily influenced by outside pundits with great sounding advice. If that advice doesn’t match what we value and what’s essential in our lives, following it will likely not lead to a successful outcome. Makes sense, right?

Then why is there often such a gap between what people say they value and how they live?

Let’s say one of your values is to give a lot of money to worthy causes. That may be your church, your university, a local shelter, or one of many charitable causes. Your tax return shows you only give 2% of your income to these causes. Would you say that reflects the value you profess?

Or let’s say that one of your most important values is providing for your kids’ education. Your oldest will be entering high school next year. You don’t have a 529 college savings plan started and had not allocated any income to saving for their college? Does that reflect what you say you value?

Of course, many parents believe their kids should have “skin in the game” for their education; that they should pay their fair share. They feel providing the money would create a sense of entitlement that devalues the school for the kids. In that case, not having money set aside may match your values.

Do you see what I mean?

Personal values and identity

Our values define who we are. These values should drive the decisions we make in life. They are values born from what we think about. Our values should be evident in how we spend our time; how we use our money.

There’s an old saying that I think is still true today. If you want to know what’s important to someone, look at their checkbook ledger or credit card statements. Of course, that’s an oversimplification, but there is more than a little truth in it.

If we say we know the importance of living within our means our credit card statements should reflect that.However, if we have multiple credit cards with high balances and make minimum payments, our values certainly don’t match what we say.

If we say retiring early (whatever that means to you) is essential and are five years away from that date with little to no retirement savings, our values don’t match. If they did, we would have followed a plan that maps out how much we need to save each year, and how much return we need to earn to provide the income we want in retirement. That plan would also include contingency scenarios to account for adjustments along the way, like living longer than our life expectancy says. Our retirement account and savings balances should have enough money (or close) to accomplish our early retirement goal.

That’s a snapshot of personal values and money matching.

Personal values reflect passions

Another way to understand personal values is to look at what we’re passionate about.

What excites you to jump out of bed in the morning and start your day? Here’s another way to ask the question. What are you working to accomplish? If the answer is a paycheck, there is no passion in that, and you will quickly become dissatisfied and hate getting out of bed to go to work.

This MoneyWatch article titled Why so many Americans hate their jobs cites a Gallup survey which shows that 2/3 of American workers “are disengaged at work, or worse.”

Another finding of the survey is that “51 percent aren’t engaged at work — meaning they feel no real connection to their jobs, and thus they tend to do the bare minimum.” That means that over half of those who work for employers don’t like their jobs! If you feel trapped in your work and get your self-worth from your job, that’s a dangerous path to follow.

If you’re not passionate about your work, think about where your passions lie.

Is there another job that would be more suitable for your passion? If not, is there a way to turn your passion into a business?

Being stuck is not a fun way to live. If you are miserable in your job, it will carry over into the other parts of your life – your family, your hobbies, and other leisure activities.

If you feel stuck Take time to reflect

First, take some time to think about it. Often, in the busyness of our daily lives, we don’t slow down enough to give ourselves time to think.

The Biblical concept of the Sabbath (mostly gone from modern day society) calls for working six days and resting on the seventh (the Sabbath). In Genesis 2: 2-3, we’re told that God rested after six days of creation.In Exodus 20 God gives Moses the ten commandments, one of which is to honor the Sabbath. So, first God rested. Then he tells us how important it is for us to rest.

Whether you believe in the Bible or not, the principal is a good one. Rest is vital to our mental health. When we do nothing but work and worry, it’s not good for our health, either mentally or physically. If you’re miserable in your job or your lifestyle, take some time to reflect.

The only way to do that is by taking the time to rest. I don’t know how we can do that without taking some time away from the stress of the job. To be successful at this exercise, you’ll need to get outside of your box; to change the way you usually think about things. Dare to dream again.

There was a time in all of our lives (mainly when we were younger) when we had dreams about how our lives would be. Life’s difficulties have a way of extinguishing the fire from those dreams.

You can get them back!

Take inventory

Most of the time people feel stuck for financial reasons. Maybe that’s where you are. Maybe you have kids you need to put through college. And you have a mortgage, car payments. Even if you make a significant income, you may not able to put as much money away as you want or need.

Make a list of all your assets (home, investments, cars, 401(k) plans, etc.) Subtract your liabilities (mortgage, car loans, credit cards, etc.) to come up with your net worth. If that’s not where you think it should be or where you want it, think about how you can make changes.

Start with your budget. Do you have one? If not, get one. Working from a budget is the best way to manage and control expenses.  It’s also a way to find things for which you’re paying too much. More importantly, you’ll often see things you don’t need.

A few years ago, my wife, Cathy, and I set out to cut expenses. We got serious and lopped off almost $1,700 in monthly expenses. It was embarrassing how much money we wasted. It wasn’t until we got serious about managing our expenses better that we became aware of the waste.

If you have a high income, it’s likely you’re spending way more than you need. The higher our incomes, the less we seem to pay attention to spending. When the job runs out or the layoff comes or anything else happens that reduces or shuts down our income stream the overspending becomes obvious and brings stress.

Useful tools

Here are four tools to help you get started and stay on track.

Personal Capital

Personal Capital is one of the best personal finance apps out there. And it’s free! You can use this just for budgeting or for your overall financial management. You can sign up and get started right away. Pull over your bank accounts, investment accounts, even your employer retirement plans. The process is very easy and straightforward.

Keep in mind that Personal Capital will have a representative call you to offer a free plan with the goal of allowing them to manage your investments. You don’t have to do this to utilize their free tools.

Mint.com

Mint.com is another great program/app to manage your budget. Like Personal Capital, you can link all bank and investment accounts. Once they are in Mint.com, you categorize each transaction and add it to your budget.

Though not as robust as Personal Capital, this is a great app to show you where you are and help you find ways to cut.

YNAB – You Need a Budget

YNAB’s rule #1 is to “give every dollar a job.” That means they track every dollar you spend. Every dollar must be accounted for in the system. If you’re having a big problem with overspending, YNAB is the app for you.

Its sole focus is on keeping you on track with your budget. You can signup for an initial 34-day trial. After that, it’s $6.

99 monthly.

Trim

Trim is one of the more unique apps out there. Connect your accounts and Trim will look through all your transactions to find ways to save for you. They go directly to the companies and negotiate on your behalf.Have a high Verizon or Comcast cable (not to pick on them, just an example)? Turn Trim loose to negotiate a lower rate for you.

I’m not getting into any detailed review of these apps in this post. Check them out yourself to find out which ones you feel will work for you. The point is to do something to nail down your budget and lower your expenses.

Previously published here and reprinted with the author’s permission.

What’s your take on what you just read? Comment below or write a response and submit to us your own point of view or reaction here at the red box, below, which links to our submissions portal.

◊♦◊

Sign up for our Writing Prompts email to receive writing inspiration in your inbox twice per week.

Photo: Shutterstock

Read More



Leave A Comment

More News

Acquire

This duffel bag was once issued to the 2019-07-02 06:37:13This duffel isn't just a handsome lookin' fella, it's got quite a resume that should make it an easy sell for anyone who wants a solid travel bag.

Vertex releases a DLC coated version of its 2019-07-02 06:22:21Vertex's recently revived watch lineup grows this summer with a new version of their MP45 chronograph in a DLC-coated case. Just like its silver-case

Feit's new caps keep it low profile and 2019-07-02 06:05:07Feit is updating its range of caps with a soft and breathable organic cotton for the summer. Made in Japan in small quantities, these six-panel baseba

Status combines high-quality audio and an accessible price 2019-07-02 03:00:00Status Audio is launching two new Bluetooth headphones with audiophile-grade sound and a price point that won't do too much damage to your wallet. Th

Blancpain adds a touch of blue to the 2019-07-01 18:15:32Blancpain's contribution to this year's Only Watch auction comes in the form of a throwback to the Fifty Fathoms Barakuda, which has its hands and m

Singer's Track 1 chronograph gets a Damascus steel 2019-07-01 16:41:53Singer Reimagined's Track 1 chronograph is getting a unique case to match its unique movement. The Only Watch edition of the Track 1 will feature a 4

Tudor reveals a Black Bay in ceramic for 2019-07-01 16:17:53Tudor's contribution to the 2019 Only Watch auction is a blacked-out version of their popular Black Bay timepiece. The tonal design swaps out the 41m

Defakto grows its minimalist watch collection with the 2019-07-01 05:43:07Defakto might not be a watch brand that's on your radar, but if you enjoy a good design watch then you definitely should give their collection a look

Jays launches its first pair of true wireless 2019-07-01 03:00:00It looks like there's a bit of a war brewing between audio companies fighting to outdo Apple's AirPods when it comes to battery life. The latest com

Butterscotch LB whips up a limited edition of 2019-07-01 03:00:00Rolling Dub Trio's Stan boot isn't your average pair of Chelseas. Long Beach retailer Butterscotch LB commissioned Rolling Dub Trio to craft an excl

Paul Smith launches a new set of suitcases 2019-07-01 03:00:00Paul Smith and Globe-Trotter strike up a partnership once again with a new set of suitcases inspired by the colors of Smith's signature stripes. Avai

Simon Crompton's Sartorial Travel Guide highlights some of 2019-07-01 03:00:00Author Simon Crompton highlights some of his favorite independent menswear retailers across the globe in a new travel guide for style-conscious jet-se

The Good Men Project

What My Soul Wants of Me 2019-07-03 14:00:34None of this matters. Except maybe love. The post What My Soul Wants of Me appeared first on The Good Men Project.

10 Year Authentic Business Plan for Semi-Retirement 2019-07-03 13:30:45Creating true freedom by fulfilling your calling. The post 10 Year Authentic Business Plan for Semi-Retirement appeared first on The Good Men Project.

Dunking Over Darwin 2019-07-03 13:00:33Evolution and NBA Free Agency The post Dunking Over Darwin appeared first on The Good Men Project.

Paying Homage to My African American Family 2019-07-03 12:30:29Self-hatred is destroying us. The post Paying Homage to My African American Family appeared first on The Good Men Project.

What Paths Life Takes 2019-07-03 12:00:54Make it happen, let it happen, or somewhere in the middle? The post What Paths Life Takes appeared first on The Good Men Project.

What is Eye Movement Desensitization and Reprocessing (EMDR) 2019-07-03 11:30:40How your eye movements can be therapeutic. The post What is Eye Movement Desensitization and Reprocessing (EMDR) Therapy? appeared first on The Good M

Men Need Safe Places To Feel (Angry) 2019-07-03 11:00:46We’ve only ever seen anger used to hurt people. The post Men Need Safe Places To Feel (Angry) appeared first on The Good Men Project.

Understanding the Signs of Unhappiness 2019-07-03 10:30:32Often unhappiness can be a many-headed beast, perhaps impacting several aspects of your life. The post Understanding the Signs of Unhappiness appeared

Every Day Is Like Sunday 2019-07-03 10:00:09Researchers probably ignore Sundays, preferring to use their professional expertise by predicting election results wrongly instead. The post Every Day

4 Things I Have Discovered About Boys Since 2019-07-03 09:30:05Having a son is really all it's cracked up to be. The post 4 Things I Have Discovered About Boys Since Becoming a Mom to One appeared first on The Go

9 Certain Traits of Untrustworthy People 2019-07-03 09:00:26Trust is the glue of life---the foundational principle that holds all relationships. The post 9 Certain Traits of Untrustworthy People appeared first

Lost Pies and Lost Hope: A Father’s Struggle 2019-07-03 08:30:26The world is burned and all that is left is an empty pie tin. The post Lost Pies and Lost Hope: A Father’s Struggle appeared first on The Good M

Maxim - The Ultimate Guys

Women Share The Best Things Guys Can Do 2019-07-02 07:30:00Considering the number of dating apps out there, it's clear that there are a lot of first dates going on but more often than not, scoring a second da

Where to Eat, Stay and Play in the 2019-07-02 07:00:00By air and sea, via superyacht, private jet or the more prosaic cruise ship, the number of visitors alighting in the Bahamas is growing at a staggerin

5 Things We Know So Far About HBO's 2019-07-01 15:55:31Game of Thrones is gone, but definitely not forgotten. HBO is already filming one of the prequels in Northern Ireland, and of course that means s

'The Boil Boss' Is The Only Gadget You 2019-07-01 14:57:59Much like barbecue pit masters, seafood boil bosses are a competitive lot--purists who assert they’re the kings of the crawfish, shrimp or

Kevin Durant Left Warriors for Nets Because of 2019-07-01 14:41:36Kevin Durant and Kyrie Irving are set to ink massive deals with the beleaguered Brooklyn Nets that could turn turn them into a bonafide NBA contender.

There's Now a Marathon in France Where Runners 2019-07-01 12:56:25If someone just told you there was a country that hosted a marathon featuring hydrating stations stocked with wine and cheese, you'd guess France, ri

Bentley GT Convertible Continental 'Number 1 Edition' Celebrates 2019-07-01 11:40:34Bentley is celebrating its centenary with 100 exclusive droptop Continental GTs that are oozing with supercar style.  Maxim recently test drove t

The Taco Bell Pop-Up Hotel Sold Out in 2019-07-01 11:15:35Taco Bell superfans, take note: The fast food chain beloved by stoners and late-night binge eaters alike is launching a Taco Bell-branded ho

How Mercedes-AMG Cigarette Boats Became the Ultimate High-Performance 2019-07-01 08:00:00As the graphite grey Cigarette Racing 41’ AMG Carbon Edition pulls away from the dock, captain Bud Lorow engages the engines. Shifting the cente

These Crushable Cocktails Will Liven Up Your Fourth 2019-07-01 07:00:00Summer brings light, bright, refreshing cocktails with ingredients that are are perfect for sipping by the pool, on the deck or anywhere else your cel

UFC's Dana White Confirms Fight Talks Between Justin 2019-06-30 14:07:48Even the fittest men slow down a little in their fifties. Reaction time isn't as good, and injuries don't heal as quickly. So if you're fifty-somet

Quentin Tarantino Goes Back to 1969 in New 2019-06-30 11:19:23Leonardo DiCaprio has an Oscar, never dates supermodels over 25, and he appears to still have all his own hair. He's doing just fine. In the new trai

WWDWWD

J.Hilburn Names New CEO 2019-07-01 19:19:17Dave DeFeo had been ceo of the Worth Collection for over a decade.

Wrangler Introduces Rooted Collection Sourced, Created in America 2019-06-28 11:24:29The line of jeans and T-shirts use cotton grown, milled, cut and sewn in the U.S.

Launchmetrics’ Numbers Support Strength of Paris, Italian Men’s 2019-06-28 11:04:32The firm analyzed media placements from the spring '19 season.

Ntwrk Receives Funding From Drake, Live Nation 2019-06-27 16:59:55The investment will also fund the launch of Ntwrk Presents, an event franchise.

Montblanc and Bape Team on Accessories Collection 2019-06-27 11:00:28The companies have launched a limited-edition co-branded collection of every day essentials at select Montblanc and Bape stores and online.

Men’s Spring 2020 Trend: Hang Loose 2019-06-27 00:01:25Men’s designers upped the volume for spring, featuring ponchos, baggy knitwear and looser cuts on suits and trousers in their collections.

Men’s Spring 2020 Trend: Graphic Art 2019-06-26 00:01:18For spring, many designers collaborated with artists to create works of art on the men’s runways, as bold prints and patterns stole the shows.

Retailers Embrace Feminine Side of Men’s Shows in 2019-06-25 01:05:42Dior, Louis Vuitton, Dries Van Noten, Casablanca, Nanushka were labels singled out by buyers.

Men’s Spring 2020 Trend: Pastel Path 2019-06-25 00:01:08Pastels made a strong showing on the men's runways in Europe this season. Bright shades shone through in loose tailoring, sportswear and more.

Willie Norris Makes Runway Debut at La Mama 2019-06-24 15:59:23Norris continued to push his pro-queer streetwear aesthetic with workwear-inspired looks made from deadstock fabric and repurposed clothing.

Eric Emanuel Opens First Solo Pop-up in NoLIta 2019-06-21 00:01:51The three-week shop will carry Emanuel’s signature mesh basketball shorts and a special Adidas Rivalry sneaker.

Eric Lawrence Debuts Odessa 1919 2019-06-21 00:01:19The former Anger designer has launched his second fashion venture, beginning with sterling silver-detailed Nike Air Force 1s available for preorder.

Breaking Muscle

Add New Disciplines to Your Training, Part 1: 2019-07-01 03:57:48You want to add yoga to your Olympic weightlifting or try martial arts with your powerlifting? Let's see what makes sense.   The question will

How to Put Your Body to Use for 2019-06-30 12:32:39People need more physical movement, more time in nature, and more connection. What if living life made you healthy? Just imagine a world where everyda

The Future of Video Replay for Weightlifting 2019-06-27 16:57:02In the IWF rules, four cameras are used, one near each referee and another behind the platform. Over two consecutive weekends in May I was able to of

The Bathroom Break Kettlebell Strength Plan 2019-06-27 14:42:56Following this daily plan, you can make tremendous strength and fitness gains while hardly investing any extra time. I drink a lot of water and coffe

Double Compound Movements 2019-06-27 13:37:52Double compound movements can be combined to create a fast and extremely powerful training effect. The ’70s and ’80s saw the birth of the

Do You Know What Your Core Really Is 2019-06-27 10:00:00These movement screens will allow you to assess your core stability and conduct core strength tests. See if you know how to use and move your core. &

What Is Functional Training? 2019-06-25 17:15:00Many buzzwords seem to fly around the fitness industry, and "functional" seems to be the most common one. Many buzzwords seem to fly around the fitn

The Secret to Your First Squat is Feeling 2019-06-23 11:22:50Here's where you start to focus on the feeling of a good squat because it's a great feeling. It’s all patterns. Learning to squat is learning

Preserve the Habit at All Costs: Why You 2019-06-21 15:36:40Conventional wisdom tells us we shouldn't work out every day, especially early on, but the opposite is actually true. “We are mere bundles of h

Slay the Dragon: Techniques to Conquer Fear 2019-06-20 09:10:48It’s about changing your impression of what difficult is, and who you are when you meet it. It’s easy to see its green scales when you&rsq

7 Parts of the Body That Need More 2019-06-06 20:10:59Here are seven stretches to do after lifting sessions for the areas of the body we often forget about. The debate about stretching—dynamic versu

The Locomotion Workout 2019-06-06 06:01:45This workout combines normal patterns with movement in order to reveal blind spots and keep passion alive. Training is hard. Even for the most dedicat

T Nation Articles

Tip: Eat More, Train More – The Anabolic 2019-07-02 07:00:00How do you eat for gains without gaining excess fat? Like this.

Primer 52: The Program 2019-07-01 08:00:00Completely reshape your body with this sophisticated and straightforward diet and training plan.

Tip: 40-Plus? Do More Work 2019-07-01 07:00:00Here's why this counterintuitive advice actually makes a lot of sense.

Tip: Bench Like a Beast Without Shoulder Pain 2019-06-30 07:00:00Here are three ways to build upper-body strength without irritating your well-worn shoulder joints.

Tip: Do Tinder and Steroids Go Hand-in-Hand? 2019-06-29 07:00:00A new study found a connection between fans of dating apps and their use of steroids, bodybuilding supplements, and fasting.

The 7 Most Important Lifts 2019-06-28 08:00:00Quick, name the seven most effective exercises. Got it? Now see if your list matches ours.

Tip: Ramping Up the Reverse Hyper 2019-06-28 07:00:00Turn this exercise into an isometric hold for greater strength gains. Here's how.

Worthy vs. Worthless Vitamins: Your Guide 2019-06-27 08:00:00A lot of the most commonly taken vitamins and minerals are a tragic waste of money, but there are a few that you definitely need to take.

Tip: The Athlete's Push-Up 2019-06-27 07:00:00Build starting strength and reactive power with this challenging push-up variation.

9 Underrated Exercises You Need 2019-06-26 08:00:00Stop missing out. Build a leaner, stronger, more jacked physique with this list of underused moves.

Arm Day Annihilation 2019-06-17 08:00:00Sorry, but just doing compound lifts isn't going to grow your arms to their maximal genetic limits. You need an arm day full of supersets. Try these.

Tip: How to Diagnose Your Bench Press Problem 2019-06-17 07:00:00Bench stuck? Here's how to find and fix your sticking points.

FieldandStream.com

A Fishing Adventure with Old Pals on the 2019-07-01 19:00:52A buddy rafting and fishing adventure down the New River.

The 12 Most Classic Lures and Flies for 2019-07-01 14:18:38Twelve of the most effective lures and flies for catching freshwater fish all summer.

Is the Shock Collar on Your Bird Dog 2019-06-28 19:00:32Some dog trainers swear by e-collars while others wouldn’t take a case of them for free. Whether or not you choose to use a shock collar is some

Better Than Sunblock: Sun Protection Clothing to Save 2019-06-28 16:36:00If you fish a lot but don’t want to deal with the hassle of slathering lotion all over yourself a couple of times a day, consider purchasing clo

The Next Three Things to Buy After You've 2019-06-28 16:10:43Just bought your first fishing kayak? Welcome to a great sport! Catch fish, get exercise, spend more time outside. Just make sure you’re safe on

Three Things To Look For In a Fishing 2019-06-28 14:25:00You can fish casually out of just about any kayak, as long as it floats. But if you’re serious about catching fish you should consider buying a

Bowhunting Hogs at Night Is the Can’t-Miss Hunt 2019-06-28 14:17:40How stage a can't-miss bow hunt for wild hogs at night

Two Reasons You Might Be Missing 2019-06-27 19:00:16Spin drift refers to the tendency of a bullet to drift either left or right, depending on the direction of its rifling twist. Both this and the Coriol

How to Pick The Right Kind of Fishing 2019-06-27 18:05:00Not all fishing lines are the same. Use the wrong kind in the wrong situation and you will find it much harder to catch fish. There are three main typ

Hook Shots: Go Go Team Snakehead (Chapter 1) 2019-06-27 14:33:00No matter how you feel about snakeheads, one cannot deny that the cult of anglers that targets them for sport grows annually. Many of them—inclu

Pennsylvania Grandmother Kills Cobra With a Shovel 2019-06-27 14:00:28Kathy Kehoe, a 73-year-old grandmother and school bus driver from Falls, Pa., was forced to kill a dangerous, exotic snake that is thought to have esc

How Reading Trout Water Can Make You a 2019-06-26 14:03:22Learn how to read trout water like a fishing guide.


Disclaimer and Notice:WorldProNews.com is not responsible of these news or any information published on this website.