So you want to learn the ways of the force…
Imagintana is where personal finance meets personal development. Where money and dreams converge…
Personal finance approaches all rest on particular assumptions about where to divert our money, time, and energy – and to what end.
Here are a couple common approaches to personal finance and their assumptions:
The Formulaic Approach
Put X% into savings. Put X% into retirement. Put X% into investments and assets. This route is useful if you have some excess in your income. When you get there, then a traditional financial advisor can recommend the right savings accounts, Roth IRA or investment portfolio for you. The pre-requisite for this approach is your priorities already have their place in your finances before you attach yourself to someone else’s formula. This approach worked well for certain generations with a certain income – so it’s not accessible to all.
The “Just Make More Money” Approach
This approach is about reaching an arbitrary target of financial stability that is usually defined by the mainstream, family, and peer pressure. Find whatever you can out there that will get you more dollars in the bank. Multiple jobs. Side hustles. Climb the ladder. Coupons and deals. Get rich quick ideas. These strategies definitely help, but they assume that your number one priority is increasing income, regardless of your individual definition of “enough,” your desired lifestyle, the overwork, and hours spent deal-hunting and price comparing. This mindset is common for folks who are or have been in survival mode (and just kept going), or you love the adrenaline rush of overwork but you also feel burnt out often. It might not be sustainable, or fun, in the long run. Money is no longer a worry, but the downside is if you don’t enjoy the actual work, then meaning can only emerge in whatever time and resources you have left at the end of the day.
The Imagintana Approach
Money should serve a life that matters to you, and you are willing to do what is necessary to let your passions come out while making what you need. No more, no less. The challenge with this path is that, in our world, only select activities and industries make the kind of money to live comfortably. And if you find yourself with a passion that isn’t a money-maker, you will need to get creative and make tough choices in order to protect your interests. It might involve less material comforts. It might mean taking an “all right not awesome” job you can do well while feeding your passion fully on the weekends and vacations. It might mean going against the grain of having a car, family and house. This approach also assumes that finding the proper integration, compromise and balance of financial stability and life fulfillment will keep you nourished – not to be mistaken with excess or extravagance. But bottom line, it means your passions and gifts are alive and thriving, and you are living your fullest life.