What if your stopped thinking that your money belonged to you? What if you were just the steward of your good fortune instead of the owner of your possessions? And what if you were judged by what you did with your wealth instead of measuring the abundance of your accumulation?
Some folks freak out at the thought. There are plenty of people who consider all financial things “theirs”, whether they be opportunities, possessions, or decisions. Financial planning for them is about control and maintaining a tight grip and their appetite for planning usually hinges on how to keep what they have and how to get more of what they want.
But other folks find it liberating to believe they are merely stewards of their wealth. It gives them a perspective that in the end, it’s what we do with, and how we use our gifts that measure our financial success. It gives them motivation to care for their wealth better, share more of their success with others, and be more intentional with not only their money, but also with their time and relationships. Financial planning for them is about pursuing experiences and defining a purpose for their accumulation and wealth preservation. These folks carry less debt, give more to charities, travel more, and rate their financial happiness level higher.
The tools and tactical steps used in the financial planning process don’t differ whether you’re a “keeper” or a “sharer”. And it isn’t true to say that one group performs better financially than the other. But if you loosen your grip on your money and think of it as a tool with which to satisfy a list of things and experiences you want to accomplish, I can pretty much guarantee you’ll be happier about why you’re planning and managing your finances.
