Making your life better in 2020 doesn't have to suck

Does a knot form in your stomach when you think about your finances? Rather bang your head against the wall than review what you spent this past holiday season? Are you now imagining the soul crushing experience that is budgeting for the new year? 

Look, I get it.

So today I’d like to let you in on a little secret I believe can help make 2020 your best year yet:

Making your life better doesn’t have to suck.

Here are my three suggestions for improving your life this year while actually enjoying the financial planning experience along the way.

1) Make it about more than the numbers

Why is money important to you?

Free yourself – at least temporarily – from any limitations, real or imagined, of your current situation. This question is about what’s important to you, not what you see as possible within your current constraints.

Think qualitatively – more time with your spouse / partner / family, more freedom for that hobby you really enjoy, the ability to make that career change you’ve always considered, etc. Once you’ve got a better handle on why money is important to you, it becomes easier to align your money with those things that matter most.

2) Prioritize ROL over ROI

With better clarity on why money is important to you, you can move beyond making financial decisions based exclusively on return on investment (ROI) and replace it instead with return on life (ROL).

ROI - We bought this house because we expect it to appreciate in value and the property taxes are low. 

ROL - We bought this more expensive house because it’s in a nice community on a great street full of families and allows the kids to walk to school every day.

ROI - We’re maxing out our 401ks to save for retirement and contributing to a college savings account to help pay for college because that’s what we’re supposed to do and I’m bored just writing this sentence.

ROL - We make sure we max out our 401ks and make our college savings contributions first so we can spend a good chunk of what’s left on the family vacations we enjoy and not feel guilty about it.

The best financial answer is not always the “right” answer for you and your family. Return on life thinking incorporates both the financial and emotional components so you can make the decisions that work best for you and your family.

3) Accept uncertainty by focusing on what you can control

My 6-year-old told me the other day about something unfair someone had done at school. And in a rare moment of parenting clarity, I managed to say the following:

“Remember, we can’t control how other people act so we shouldn’t worry about that too much. We do control how we act though, so let’s focus on that.”

When you let go of the many things that are outside of your control and instead focus on the few things you do control, a sense of calm replaces that low-grade worry and panic we often carry around. When you adopt this approach, something like your financial planning that’s caused you stress and anxiety in the past can be transformed into an enjoyable process that allows you to live the life you want.

I hope you find these three suggestions helpful as you strive to make 2020 your best year yet.

And before you go, allow me to offer one final suggestion.

You don’t have to navigate this journey alone.

This stuff is right in my wheelhouse and I love helping create a positive impact in the lives of the families I’m lucky enough to work with.

If you’re looking for a guide and someone who can hold you accountable to your best intentions this year, let’s talk about it.

Want blog posts like this one delivered straight to your inbox? You can join my e-newsletter right here.