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CHANGE THE FINANCIAL GOAL

  • Writer: Treavor Dodsworth CFP®, CPA, CKA®
    Treavor Dodsworth CFP®, CPA, CKA®
  • Jun 13
  • 1 min read

Almost always financial professionals will begin a relationship by helping a client walk through their financial goals. While it can be a tempting to gloss over this, what your spoken or subconscious goal is dramatically impacts your behavior.

Change the Financial Goal

In regards to monthly cash flow specifically (remember we are all about monthly financial margin), many times people make the goal (knowingly or not) to simply break even each month.


Businesses across many sectors target this mindset. How often are you sold something based on the monthly payment amount?


Don't make your target to simply break even each month. Build some margin into the goal. For example, your goal may be to have at minimum $1,000/mth extra. Then you start adjusting once you get close to that amount as opposed to when you are underwater.


What you consciously or subconsciously have made your financial goal, will dramatically alter your behavior.


Note: Debt specifically should not be evaluated simply by if it fits within your monthly budget. "Can I afford this monthly payment?" is not the question to ask. At Monthly Financial Coaching we are generally adverse to most (not all but most) debt.

 
 

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