Part 2/9:
Take some time to reflect on what you truly care about, identifying your "money dials"—areas of spending that bring you joy. On the other hand, recognize what's merely a societal standard or expectation that doesn't align with your values. Establish two types of goals: short-term, which could involve paying off immediate debts, and long-term ones, such as retirement plans or business aspirations.
Next, create a conscious spending plan that breaks down your income into four main categories:
Fixed Costs (50-60%): Non-negotiable expenses like rent, groceries, and utilities.
Investments (5-10%): Money meant for growth through retirement accounts or index funds.
Savings Goals (5-10%): Allocating funds for emergency purposes or significant purchases.