The One Question That Will Change How You Handle Money - 22

Action Item: Ask yourself, "Why is money important to me?" and write down your answer.In this episode, I dive into one of my absolute favorite questions to ask people about money and break down why understanding your financial "why" can completely change the way you handle every money decision you make. I walk through what values-based financial planning actually is, how to build your own statement of financial purpose using three simple prompts, and why aligning your plan to your personal values makes it so much easier to stay disciplined, cut back on spending, and actually enjoy the journey along the way. I also share my wife Rebecca and I's personal story of how reading The One Page Financial Plan by Carl Richards shifted our entire approach to money from one focused on numbers and allocations to one driven by purpose and values, and just how much that has strengthened both our finances and our relationship.Resources & Links MentionedThe One Page Financial Plan by Carl Richards: https://a.co/d/0aP7Eas4What Is Values-Based Financial Planning: https://smartasset.com/financial-advisor/values-based-financial-planningMoney Psychology: Understanding Your Relationship With Money: https://www.capecodfive.com/resources/money-psychologyA 3-Part Approach to a Statement of Financial Purpose (Kitces): https://www.kitces.com/blog/statement-of-financial-purpose-goals-values-based-meaninfgul-action-planning-reflective-quetsions-communication-discovery/Episode 17: Money Is Harder for Young Adults with Dana Thibodeau: https://youtu.be/BZmdXaXEwjoTimestamps[01:52] Why budgeting feels so restrictive and how to overcome it[03:12] What values-based financial planning actually is[05:36] How to build your own statement of financial purpose[09:36] My wife Rebecca and I's story: how The One Page Financial Plan changed everything[12:45] Our answers: why money is important to Skyler and Rebecca[15:26] The quick win: how to start this conversation with someone you loveEmail me at [email protected]