Treavor Dodsworth CFP®, CPA, CKA®
#43 - Intentional Spending
Money isn’t meant to just sit in a financial account indefinitely. It is a tool to reach an intentional goal.
In my job, I am constantly helping clients evaluate the financial ramifications of each decision. It seems counterintuitive but many of the goals we discuss actually reduce the client's financial assets.
Retirement, one of the more common goals that clients have, is a great example. Does it make financial sense for you to stop earning an income? Typically, no.
Throughout our lives, we will be continuously faced with decisions that have varying financial impact. The goal isn’t to always make the decision that has the best financial outcome but rather to be intentional with the decision. How does the decision align with our values and goals?
When we are intentional with our money, sometimes that means we will actually be reducing our assets.
Interesting Article(s) or Video(s)
Forbes - Here’s How Much Cash You Need In An Emergency Fund, And Where You Should Keep It
Establishing an emergency fund is one of the first building blocks of personal finance.
Eternal Perspective Ministries - Racial Justice and the Image of God
Randy Alcorn shares thoughts on racial justice.
Thank you for reading! How would you define intentional spending?