Welcome to the latest series on the wildly popular JosephSangl.com – 5 Questions To Ask Before Spending Money
It is my hope that this series will help provide you with practical questions to ask when preparing to spend a substantial amount of money. Practical questions that will help you truly understand the enormity of the decision and help you make the decision that is best for you and your family.
Question 5: Will this help me achieve my future plans, hopes, and dreams?
I believe that the number one reason that people fail with their financial plans is a lack of organization and the lack of a plan. Without a longer-term perspective, it becomes extremely easy to fall into the trap of living for the minute and immediately spending every single dime we earn. As one develops a longer-term perspective, it really helps us recognize that spending all of our money right away will rip our future dreams away from us!
When my family first got started on improving our financial future (Dec 2002), I noticed that we started looking a few months ahead. Now, eight years later, my entire perspective has shifted. You see, I want to leave a legacy for my children and community. I want to start a university. I want to leave a huge inheritance to my family, church, and others. My wife and I want to give our children a paid-for college education. We want to give them a paid-for house when they graduate. We desire to teach them to manage their finances recognizing that it is not just FOR THEM, it is FOR THEM TO HELP OTHERS!
I’m 36 right now. Statistics say I am 1/2-way through my life. Time is short. Too short to spend all of our resources on stuff that does not support our plans, hopes, and dreams.
By the way, the university is starting earlier than scheduled. Stay tuned … Things to make us all go, “Hmmm …”