Do you have a junk drawer? You know that drawer usually in the kitchen where you toss everything into (takeout menus, coupons, utensiles, tools, pens, etc.)
Do you apply the same principle to your finances?
Without a financial model your finances end up in the financial junk drawer. The financial junk drawer can lead to assets that are:
- Based on Opinion
- Limited to Needs
- Limited to Goals
- Purchased by Convenience
- Not Accessible
This model or lack of a model leads to many problems down the line. It is imperative to keep your finances well organized and working together for you and your family.
Q: How does this compare to your current financial situation?
a. This looks and feels like my situation.
b. This looks partially like my situation.
c. My finances are completely organized.