NEXT MONEY MOVES GUIDE
Your Next Money Moves Guide methodically prioritizes your Financial Actions as they relate to your Ultimate Mission. It’s your roadmap that answers the question: “what’s next?”
Inflow: Deciding on your next job? Consult this guide!
Outflow: Not sure how to best apply your tax refund, or a large inheritance? Just checkout this guide!
This guide also reminds you of past progress to motivate you for future feats. Simply move items from the “Next” section to the “Completed” section and enter the date completed in the space provided.
** Being that this guide lays out a map for the role money will play in supporting your Ultimate Mission, it’s critical you consistently refer back to your Ultimate Missionduring this guide’s development.
Completed:
Implement “Survival” Budget (with corresponding Spending Plan, to ensure math happens!)
Document income + mandatory expenses, including unplanned items like car repairs & health expenses.
Date Completed:
Next:
Secure Adequate Insurance(and adjust budget)
Protect your loved ones and finances with proper insurance.
Date Completed:
Apply “Surplus” Funds Toward Reserves(starting with saving $2,000)
Reserves areyour “shock absorber” to be used only for emergencies such as job loss, family health issues, etc.
Date Completed:
Pay Off All Credit Card Debt
Get rid of all balances using the “Debt Snowball” approach.
Date Completed:
Increase Reserves to At Least Six Times Your Monthly Survival Budget
Save more if your income is unstable, or if you only have one wage-earner in your household.
Date Completed:
Pay Off All Consumer Debt
Say bye to auto loans/leases, student loans, personal loans, furniture/appliance loans, etc. Everything but home loans.
Date Completed:
(continued on page 2)
Find Fulfilling Work (doesn’t necessarily refer to your “job”)
Get involved with something you’re passionate about; work that is purposeful in engaging your unique skills and abilities.
Date Completed:
Schedule 2 Vacations Per Year
Make this a long-term habit. Vacations get you away from everyday routines and expand your appreciation.
Date Completed:
Designate 10% to Retirement
Contribute 10% of your income to 401k’s, IRA’s, etc. Start with company-matching 401k’s, then look at IRA’s.
Date Completed:
Care For Aging Parents
Consider your parents’ situation (life and financial). Will you want to be free from work in order to care for them?
Date Completed:
Target Next Major Goals
Save for a home down payment, college fund for your children, starting a new business (don’t go into debt here!), etc.
Date Completed:
Pay Off Home Loans
Don’t start pre-paying home loans until Levels 1-8 are completed and still in place.
Date Completed:
Home Upgrades
Save to pay in cash, instead of loans. Consider upgrades that improve experiences (pool, entertaining yard, home library)
Date Completed:
Job Freedom - Enjoy Your Ability to Escape Work-For-Pay Requirement
Remember those “Ultimate Investments”! Now’s when you have the most time to pursue these!
Date Completed:
Tax Preparation • Home Loans • Personal Finance Coaching