174. Handling Multiple Financial Goals At Once

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Episode Synopsis: 

In this episode, Gina Knox addresses the challenge of having too many financial goals and priorities. She explains the difference between a financial desire and a financial priority, emphasizing that there are only three financial priorities: saving, debt payoff, and investing. She discusses how the traumatized brain often resists prioritizing and wants to fulfill all desires at once. However, she highlights that by focusing on the top three priorities, individuals can acquire all their desires over time. Gina emphasizes the importance of aligning desires with the budget and making sure that spending reflects personal values.

Timestamps:

00:00 - Navigating Multiple Financial Goals and Priorities
01:25 - The Difference Between Financial Desires and Priorities
04:21 - Building Savings and Paying Off Debt
05:16 - Investing for Financial Freedom
08:35 - Aligning Desires with the Budget
11:10 - How You Spend Your Money is How You Spend Your Life

Takeaways:

• There are only three financial priorities: saving, debt payoff, and investing.
• By focusing on these priorities, individuals can acquire all their desires over time.
• Desires live and die in the budget, so it's important to align spending with personal values.
• How you spend your money is how you spend your life.

Category: Saving, Personal Finance, Budgeting

Keywords: financial goals, financial priorities, desires, saving, debt payoff, investing, budgeting, personal values