One of my favorite things about starting a new year is the feeling of a clean slate. It's a time to re-evaluate how things are going and what you might like to shift or reprioritize. And it’s a great time to revisit your financial plan or create one.
Goal setting is the first step in any financial plan. When setting goals, use the time to reflect on what is most important to you.
The Wheel of Life is a powerful tool to help you take a holistic approach to financial planning by aligning your goals with all areas of your life. It encourages you to look beyond numbers and balances and assess how money impacts your relationships, career, health, personal growth, and more.
As we step into a fresh year, it's the perfect time to revisit your financial goals. Use the Wheel to evaluate where you're thriving and where you need balance. By considering all aspects of your life, you'll be better equipped to make financial decisions that serve your long-term happiness and well-being.
2025 is your year to create balance in your financial life — let the Wheel be your guide in your goal setting. Here is how to use it:
1: Choose 8- 10 life areas, such as career, health, relationships, finances, and personal growth.
2. Rate Satisfaction: Score each category from 0 (center) to 10 (outer edge) based on your current satisfaction.
3. Visualize Balance: connect the scores to form a shape. A balanced wheel is circular; imbalances appear uneven.
4. Set Goals: Identify gaps and create actionable goals to improve low-scoring areas. Re-assess periodically to track progress.
