May 2016 | Page 82

discovered that few people were actually using the coffee service they paid for. This money was being wasted for years, but it took the downturn for anyone to realize it. Knowing what money flows in and out of your household is super-helpful to prepare you for any changes that may come your way because you’ll be more easily able to assess whether you’re spending money on things you truly value. You’ll also have a much easier time making adjustments if your financial situation changes. 82 | Eydis Magazine WHEN THE STORM IS COMING, PUT YOUR MONEY WHERE YOUR MOUTH (AND VALUE SYSTEM) IS greatly value and you plan to help pay for your kids’ college costs, are you allocating enough money toward saving for this goal? Does how you spend your money reflect what is truly important to you? To get a clear handle on this, take the summary of your expenses and turn it into a valuesbased spending plan. Start with a summary of where you’re spending money and evaluate each category. Then, decide whether your values are being expressed in the way you spend. For instance, if education is something you Is making a difference in the world important to you? If so, have you included an allocation for financial donations to causes you care about in your spending plan? Earmarking cash for gifts to others is a great example of how to align your spending with your values. It’s also a way to loosen your grip on money. When you’re focused on helping others less fortunate