Intentional financial planning: A foundation for living a rich, meaningful, and purposeful life

In today’s complex world, intentional financial planning is more than a necessity; it’s a pathway to a fulfilling life. This approach goes beyond budgeting or saving for retirement; it focuses on aligning your financial strategies with your values and aspirations.

The Landscape of Financial Well-Being
A 2022 survey by the National Endowment for Financial Education found that nearly 70% of Americans feel anxious about their financial situation. This anxiety often stems from a lack of knowledge or a clear plan. Intentional financial planning can alleviate this stress by providing a structured approach to managing finances.

What is Intentional Financial Planning?

Intentional financial planning encompasses several key components:
Goal Setting: Define what success means to you—travel, education, philanthropy, or financial independence.
Budgeting with Purpose: Create a budget that prioritizes what matters most, allowing you to allocate resources meaningfully.
Investing in Your Future: Choose investments that reflect your values, whether through sustainable options or supporting local businesses.
Risk Management: Prepare for the unexpected with insurance, emergency funds, and debt management strategies.
Continuous Review and Adaptation: Regularly revisit your financial plan to ensure it aligns with your evolving goals.

The Benefits of Intentional Financial Planning
Enhanced Clarity and Control: Regular financial planning fosters confidence and reduces anxiety, allowing for informed decision-making.
Improved Financial Health: Studies show that individuals with a written financial plan are more successful in achieving their goals.
Fulfillment and Purpose: Aligning finances with personal values can lead to greater happiness. Investing in experiences rather than material possessions often brings more joy.
Legacy and Impact: Thoughtful financial planning allows you to consider your legacy, whether supporting family, charitable causes, or future generations.

A Call to Action
Start your journey toward intentional financial planning today:
Reflect on Your Values: Identify what truly matters to you and use it as a foundation for planning.
Create a Financial Vision Board: Visualize your goals to make them more tangible.
Develop a Values-Based Budget: Adjust your spending to prioritize experiences that bring joy.

Seek Professional Guidance
Consider working with a financial planner who understands your values and can help tailor a plan that aligns with your vision. A skilled planner can provide valuable insights and strategies that may not be immediately apparent. Seek out a financial planner that works on a fee for financial planning rather than investment management only. Financial planning is much more than investing and a financial planner that looks at the entire picture can offer the greatest value.

Conclusion
Intentional financial planning can transform your life, leading to clarity, fulfillment, and a lasting impact. Begin today to align your financial decisions with your values and empower yourself to live purposefully. Your future self will thank you!
Kristina Kuprina is president of Sequoia Wealth Advisors. Reach her at [email protected]