Last week, I was listening to an episode of the Next Big Idea Daily. (12 minutes)
Jamila Souffrant was highlighting her book.
Your Journey to Financial Freedom: A Step-by-Step Guide to Achieving Wealth and Happiness.
The concept that really connected with me were the 6 dimensions of our finances.
She says there are 4 tangibles: Income, expenses, assets, and liabilities,
And 2 intangibles: Mindsets, and habits.
My Perspective
As I listened, I felt this was straightforward and obvious.
Yet, I don’t know that I have consciously considered, worked on, or tracked some of these.
Income and expenses are the easy ones.
We likely track these through a spreadsheet, app, or watching our bank account balance.
Liabilities may be on our mind if we are working to pay down debts.
Pay off cars, mortgages, and other loans.
Assets are likely less frequent.
We might take note of our investment funds with the quarterly statement.
Yet, we might not consider the current value of physical assets – like the cars and home.
The two that really struck me were the intangibles.
What are the mindsets and habits we have around our finances and the way we manage them?
I believe my money mindset and habits have changed over the years.
Different perspectives and priorities at different life stages.
What I realize is that I wasn’t taught much about money.
Especially after I reached adulthood.
Having a framework in the early years to know the financial situation would have been great.
Keeping an eye on these 6 dimensions each year.
Your Turn
Have you actively considered these 6 dimensions with your finances?
Which of the 6 areas are you most tuned in to?
Which ones are on autopilot in your life?