7 questions about money to ask yourself (to live the life you want)
Imagine the perfect day in your life if money were not an issue. What would you do for work then? How would you live? What does your life look like then? We all have an idea of what our life would look like in the ideal world, but we often have too little money to make this a reality in practice.
One of the reasons is that we don’t have our finances in order and sometimes we don’t even dare to look at our bank account. It’s time to take back control of our finances. These seven questions can help with that.
Questions about money to yourself
Ask yourself these seven questions about money to eventually live the life you want.
How can I increase my income?
It could, of course, be that you are completely satisfied with what comes in, but for many people, it is always nice to earn more. But have you ever wondered how you could achieve this?
Maybe you have a good reason to negotiate a salary increase, it’s time for a new step in your career, or a side hustle is something for you.
It would help if you were realistic about this. A lifestyle upgrade is no reason for your boss to give you a raise. And a side hustle is a nice idea, but if you’re too busy, you’ll have to make choices.
How much do I want to save per month?
How much do you save each month now? Is this a fixed amount, or do you keep what is left every month?
But you’re better off figuring out how much you can save each month by diving into your finances. Based on that information and the size of your savings goal, you can determine how much you want to save each month.
Do I want to invest?
Investing is the best way to grow your wealth. And the sooner you start, the longer you have time to build your wealth. But chances are you still have a lot of questions about investing.
Immerse yourself in the world of investing and decide whether it is something for you. If not, that’s fine! But don’t put off the search any longer.
How can I keep saving while living the life I want?
Contrary to popular belief, saving and enjoying are not two opposite concepts. For example, agree with yourself that you can spend freely on everything that makes you happy.
Or go one step further and even set a budget. A budget app can then send you a notification when you are almost on your budget.
Do I have enough money for financial setbacks?
How much money should you have in your piggy bank for financial setbacks? Most financial advisors recommend paying three months’ worth of fixed costs with this piggy bank.
But above all, ask yourself what makes you feel good. That could just as quickly be six or twelve months of fixed costs.
Do I spend my money on things that matter?
As we just said, saving and enjoying are not two opposite concepts. Of course, you have to think about it later, but it is also important to live. So don’t get us wrong: money should be spent.
Yet, it is important to do this consciously on things that make you happy. So take a look at your bank account and look at the expenses you have made in the last month. Are these expenses that make you happy? Or can you save more for goals that cost you more?
What are my savings goals, and what can I do to achieve them?
Saving becomes easier when you have a savings goal. Then you know what you’re doing it for. To make it even easier for yourself, it is wise to give your savings goal a deadline as well. Then you create more urgency to get started.
Therefore, write down several savings goals and determine when you want to achieve them. You can then see how much you need to save each month from attaining the goals (and whether you need to save to do so).
