In the first episode of the third season of the ‘Where Your Treasure Is…’ podcast, Simon and Bex explore the importance of establishing clear personal goals before embarking on any kind of practical financial planning.
Some key points of interest covered in this episode include the following:
- Simon explains that the practicalities of financial planning need to be preceded by a process of setting clear objectives and goals. [01:45]
- Simon uses a spot of role play to illustrate the importance of drilling down into the underlying reason(s) for the financial planning decisions that we make. [02:39]
- Simon provides an example of a practical financial planning goal – saving for a family holiday – arising from a life objective of showing love and care for one’s family. [06:10]
- Mention is made of various ways of keeping track of money in order to achieve a financial planning goal that has been set. [08:58]
- Overall, the aim is not to reduce every life objective to a financial goal, but to ensure that every financial goal is linked to a life objective, as Simon demonstrates with a number of examples. [12:47]
- Bex asks Simon what difference it should make to our decision-making that the Bible tells us that 'the earth is the Lord’s and everything in it' (Psalm 24.1) and that we are called to be good stewards of what God has given us. [14:25]
- Simon responds to a question from Bex about how to deal with both a deficit and a surplus in our personal finances. [16:29]
- Simon concludes by providing examples of ways in which we can use money positively, as a tool. [18:44]
- Season 3 Episode 2 will cover the topic of Pensions. As ever, contact can be made with us through whereyourtreasureis@freerangepodcasting.co.uk, or on Instagram via @whereyourtreasureispodcast. [21:04]
This show has been brought to you by Free Range Podcasting.
