Being financially "balanced" can mean different things to different people we meet. From our perspective as financial planners, balance means maintaining quality of life today while taking the steps to secure quality of life in the future. Often this discussion involves the issue of paying down debt efficiently while still addressing other financial concerns. We recently met with someone who was working on paying down debt while trying to aggressively save for retirement at the same time. Her focus on these two items had lowered her current quality of life significantly. This post describes the approach we recommended to balance out her current financial needs with her future financial goals.
By John T. Chorne, CFP® | December 22, 2016
Dorval & Chorne Financial Advisors Quarterly Book Blog – 4th Quarter 2016
Happy Money, The Science of Happier Spending by Elizabeth Dunn & Michael Norton
Overview: Money can buy us happiness, if we spend it right. This book examines the spending principles that new research suggests makes people happier.
Each quarter I will be writing a blog on a financial book. My hope is to summarize each book with a couple of ideas people can implement into their own financial lives. The focus of the blog will be to highlight behaviors, principles and processes that can improve our financial well-being and help us reach our most important financial goals. My first book blog covers a topic that applies to all of us: spending (and how to do it wisely).