E363: Money Mondays - The Power of Measuring Backwards in Finances

SummaryIn this episode of Money Mondays, Benjamin Lee emphasizes the importance of reflecting on financial growth as the year comes to a close. He discusses the concept of measuring backwards to assess accomplishments and areas for improvement in personal finances. Drawing from books like 'The Gap and the Gain' and 'The 15 Invaluable Laws of Growth', he highlights the need for strategic planning and evaluation of financial habits. Lee encourages listeners to take time to review their financial year, identify successes, and develop strategies for the upcoming year.TakeawaysAlways measure backwards to assess your financial growth.Reflection is key to understanding your financial journey.Using budgeting tools like YNAB can enhance financial accountability.Evaluate your financial habits regularly for improvement.Identify what financial strategies worked and which did not.Consider what you need to do more or less of with your money.Develop a mindset focused on growth and improvement.Take time to reminisce about financial successes and challenges.Planning for the future requires understanding the past.Aim for a strategic approach to financial management.Chapters00:00 Reflecting on Financial Growth06:09 Strategies for Financial ImprovementNewsletter and Blogs: https://benjaminlee.blogI Can Do Podcast: https://icandopodcast.comBooks Mentioned: These books are in my personal library. 1. The Gap and the Gain by Dr. Benjamin Hardy and Dan Sullivan https://a.co/d/d5vXXC72. The 15 Laws of Invaluable Growth by John Maxwell https://a.co/d/7wIWbZJ