Hey there, Michael here.
Happy Friday to our community of savvy financial planners and business owners.
Whether you’re just starting your financial journey, navigating the middle stages, or nearing the later years of your life, achieving financial security requires a clear and simple plan.
One of the most effective ways to approach this is by organizing your finances into three categories: Needs, Wants, and Wishes.
No matter where you are on your path, these steps can help you build a secure and fulfilling future.
Cover Your Needs
Your “needs” represent the essentials—those must-pay expenses that form the foundation of your financial well-being.
Whether you’re early in your career or approaching retirement, this includes housing, utilities, insurance, and debt obligations.
Prioritizing these ensures that you maintain stability, and building an emergency fund provides a cushion for unexpected events.
At any stage of life, meeting your needs first is essential for a solid financial base.
Satisfy Your Wants
Your “wants” are the things that bring joy and comfort to your life—dining out, vacations, or indulging in hobbies.
It’s important to set aside funds for these non-essential items, so you can enjoy life in the present without derailing your future.
Whether you’re just starting to earn more or you’ve already built wealth, balancing your wants with your other financial goals helps you live fully now while still planning for what’s ahead.
Plan for Your Wishes
Your “wishes” are your dreams for the future, no matter how far away they might seem.
Perhaps you dream of starting a business, traveling the world, or achieving financial independence.
As you move through life, your wishes may evolve, but they remain the driving force behind your long-term goals.
Whether you’re early in your journey or nearing the finish line, planning for your dreams allows you to turn those aspirations into reality. The earlier you identify and work toward them, the more likely you are to achieve them.
No matter where you are in life, organizing your finances around Needs, Wants, and Wishes provides clarity and direction. By maintaining this balance, you can secure your present while keeping your dreams for the future within reach.
Let’s work together to develop a plan that supports your current needs and sets you on the path toward achieving your biggest dreams.
