Don't Maximize Your Money
Financial advice is often focused on one thing: maximizing money. Daily, the media tells us to:
Optimize investments by finding the best stock picks and crypto trends.
Never let a dollar go idle-- Your money should always be earning you more money.
Cut expenses—Say goodbye to lattes and use points to fund vacations.
Grow your income with side hustles and new income streams.
The underlying message? Make money your main focus. While these strategies have merit, they can cause us to lose sight of the bigger picture.
Here’s the Thing: Is Money the End Goal?
My two cents? Money is not a very inspiring goal.
In a response to this relentless push for maximization of money, minimalist financial advice encourages simplicity. Paula Pant, author of Afford Anything, reminds us that our time and mental bandwidth are also valuable. Her guidance:
Decide what’s “good enough.”
Focus there.
Ignore the rest.
That’s a good start, but it leaves us with a big question…. What’s the Real Goal?
Enter Life Planning
A couple of years ago, I discovered life planning, a profound approach that has reshaped how I view life and money. Life planning aligns your finances with your values, dreams, and purpose. Instead of framing goals around monetary benchmarks, money becomes one of many tools—along with your time, health, energy, knowledge and skills…you get the idea— that help bring your vision to life. This framework led me to a big mindset shift for me. It really led to me challenge assumptions and consider out of the box scenarios that I most likely wouldn’t have considered otherwise. With a focus on intentionally building a life that I love, money no longer makes decisions for me.
If you think you may be ready to consider such a shift, George Kinder’s EVOKE method can a powerful framework to get started.
How to Start Designing a Life You Love:
1. Exploration
Dream big. Imagine what a fulfilling life would look like if money were no object. Consider:
What would you do if money was not part of the equation?
What are your core values and passions?
Example: Maybe you’d like more time with family, more freedom to create, or the chance to make a meaningful impact in your community.
2. Vision
Now, envision your ideal life in vivid detail. Kinder’s method invites questions like:
If you were financially independent, how would you live your life?
If you had only 5-10 years left, what would you focus on?
If today were your last day, what would you regret not having done?
Example: If your vision involves spending summers abroad, imagine that lifestyle fully, from where you’d go to how you’d feel each day.
3. Obstacles
Identify what stands in the way of living your ideal life. Often, these are:
Financial limitations
Fears or doubts
Negative mindsets or habits
List them all! Recognizing these obstacles allows you to start addressing them intentionally.
Example: Your biggest obstacle may be fear of a pay cut if you transition to a passion-driven career-- or maybe it’s the mindset that financial “waste” is unforgivable, even if it means sacrificing personal joy.
4. Knowledge
Take stock of the resources and skills you already have that can help you achieve your vision. Do you have knowledge gaps to fill? Skills to develop? Consider what you need to feel confident moving forward.
Example: If your vision includes spending more time with family, you might benefit from learning about part-time work options or flexible job structures.
5. Execution
Create a clear action plan that would facilitate making your vision a reality. This step involves practical decisions, timelines, and financial strategies.
Example: If your dream life would involve a career change, execution might include budgeting for short-term income loss as you transition to a new role.
The Bottom Line: When you stop seeing money as the ultimate goal and start using it as a tool to support your life vision, you gain a new perspective. When we’re intentional about our vision, our money can become a resource to help us create our best and most fulfilling life.
