Before looking at value-based spending, we first have to be clear as to what a value is:
A “value” is something that makes life meaningful; something we believe in and which we consider important. A value comes with principles, and the two together guide the way we conduct ourselves in the world.
For example, above everything else Karen values her family; her family is central to everything she does and always comes first. Karen believes nothing is more important, nor can give her a greater sense of joy and fulfillment, than her immediate and extended family members. Within that value – “family” – is a whole host of principles: trust, loyalty, respect, responsibility, reliability, compassion, charity, etc. She believes her values and principles are the right way to be living in the world, and she works hard at applying her values in everything she does.
Now select five principles (codes of behaviour) that you value most.
Most people place friends and family (relationships) at the top of their value list. This is consistent with recent “happiness” research: People value relationships more than anything else, and those relationships are the main source of happiness for them. According to the research, you would need $100,000 at any given time to get the same level of happiness as you do from relationships. Life is very expensive without family and friends!
A “value” is something that makes life meaningful; something we believe in and which we consider important. A value comes with principles, and the two together guide the way we conduct ourselves in the world.
For example, above everything else Karen values her family; her family is central to everything she does and always comes first. Karen believes nothing is more important, nor can give her a greater sense of joy and fulfillment, than her immediate and extended family members. Within that value – “family” – is a whole host of principles: trust, loyalty, respect, responsibility, reliability, compassion, charity, etc. She believes her values and principles are the right way to be living in the world, and she works hard at applying her values in everything she does.
So what do you most value; that makes being alive worthwhile for you? Think very deeply and honestly about your answer. Being clear about what you most value will help you focus your energies and resources to achieve financial wellness.
Ø My #1 Value is:__________________________________________Now select five principles (codes of behaviour) that you value most.
Most people place friends and family (relationships) at the top of their value list. This is consistent with recent “happiness” research: People value relationships more than anything else, and those relationships are the main source of happiness for them. According to the research, you would need $100,000 at any given time to get the same level of happiness as you do from relationships. Life is very expensive without family and friends!
Does Your Spending Reflect Your Values and Principles?
When you set your goals for next year keep this in mind.
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