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In Group Session #2 we begin to look at how we can invest in our future self.
If you missed the event we recommend that you watch the recording as this will ensure that you fully understand the content that we covered before completing the exercises. You can view the recording here.
One of the key motivators that will help to keep us on track is understanding the real emotional driver for achieving the goal of owning our own home. We explore this through an exercise called Understanding my ‘why’.
The next step is to ensure that we have our bank accounts set up in the most effective way to give us a better chance of sticking to our goals. You’ll find the Account Structure information and instructions here.
What we spend our money on is direct evidence of the things in life that matter the most to us – what we value. Understanding our values helps us to ascertain whether we’re spending our money in the best place, in relation to what we value the most. You can find the values exercise here – Determine your core values
Now that we understand what we value the most, we can use this information to review our spending and see if we want to make any changes moving forward. We can do this by using the Discretionary Spending to work out where we want to spend our discretionary funds in our budget.
Lastly, reviewing our fixed expenses annually is a great way to save money and ensure that we’re not overspending in areas that we don’t need to be. Check out our list of tips in relation to reducing your household expenses.
Well done! You’re well on your way to excellent money management!
See you in Group Session #3