The Most Important Question to Ask Before Budgeting (Video)

What do you think is the most important question to ask before budgeting? 

“How much money do I bring home every month?” 

“How much am I spending?” 

“Do I have too much debt?”

Even before you start asking yourself these specifics, I want you to answer this question first. “If I woke up tomorrow and felt really good about my finances, what has changed?”  What would there have to be more of or less of for your money stress to subside?

I ask this question of ALL of my financial coaching clients. The answers are always slightly different.

“My student loans are paid in full!”

“I have enough money to retire in five years!”

“Our credits cards are paid off and we have cash for a Disney cruise!”

When I hear the answer to this question, it reveals two things: my coaching client’s pain points and their dreams for the future.  Why is this important?  When working hard to implementing your plan, your pain points give you direction and your dreams provide fuel for the journey.

The pain points tell me what we must focus on first.  When you see tangible improvement in your money situation, you’ll be encouraged and excited to keep going. 

It’s vital to keep your dreams front and center, because they feed your motivation daily. This is why I’m such a huge proponent of financial vision boards!

So, did you answer the Most Important Question to ask before budgeting? Now, it’s time to figure where your money is going to ensure your spending lines up with your goals!

Click HERE to download the FREE Master Your Spending budget worksheet!