What’s Important About Money to You?

Have you ever thought about why money is important to you or what you want it to provide?

During the data gathering stage of our Comprehensive 5 Step Financial Planning Process, we ask our clients to share more than just documents and account statements. We also ask you to share more subjective information — things like your financial and lifestyle goals and your personal attitudes about finances and money. All of this is taken into consideration in the creation of your personalized financial plan.

One of the first questions we will ask you is, “What’s important about money to you?” This question was first posed in a book written by Bill Bachrach and we think it’s one of the best ways to help identify your values when it comes to money and how you make important financial decisions.

The idea is to get you to not only think about your financial goals or objectives, but to go deeper: To determine why you have these goals in the first place. For example, one of the most common answers people have to this question is that money gives them security and freedom. But why are these things important to you? Maybe because they would give you more time to do the things you want to do.

But what are the things you want to do? Maybe they include spending more time with your family. If so, this is the real answer to the question, “What’s so important about money to you?” — it enables you to spend more time with your family.

With this important question answered, you can now make financial decisions that truly reflect your values and will move you in a direction that’s truly aligned with what is most important to you. You can also start to say “no” to things that might get you sidetracked from where you really want to go and what you really want to accomplish in your life.