The Quest for Wealth
General money management
Manage your money mindfully
from The Quest for Wealth: 6 Steps for Making Mindful Money Choices by James R. Langabeer
How to Apply This
- Assign budget allocations to each of the four money categories.
Consider your financial goals and how they fit into the money categories of spending, saving, investing, and giving. Ask yourself questions like: What do I need to put away for college tuition for my children? How much of my income can I spend weekly? How much should I save each month for retirement? How much mortgage debt can I afford? Which credit card should I pay off first? - Remember that wealth is the sum of all big and small decisions.
Focus on framing your mindset and preparing for your finances. Document what was happening and why you made that selection. - Prepare for the approach.
Pause, breathe, and contemplate before choosing. Make each purchase a deliberative process.
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