The Importance of Self-Reflection on 2024 Spending
As the year ends, it’s a natural check point to reflect back on this past year. Whatever you set out to do or accomplish this year, think about how far you’ve come, about where you are today, and then what you may want to be different about the New Year. Self-reflection is so important, because when done intentionally, it allows us to truly recalibrate ourselves in pursuit of any number of things; our purpose, sense of accomplishment, our health and self-care, inner peace, and simply – our happiness. If you believe, like I do, that money is simply a tool to live the life you want to live, then as you reflect back on 2024, consider what role money played in your life. How is it serving you? In what areas?
As we turn the page to 2025, I challenge you to review your relationship with money. I suggest finding a quiet space and considering the following:
How has money served my health this last year? Be it nutrition, exercise, therapy, life coaching – am I pleased with where I am or is there more than I would like for myself? Align your dollars to serving those needs, wants and wishes.
How has money served my relationships this last year? Did I travel enough with my family/friends, or plan enough experiences? Am I spending quality time with the people I care most about? Have I shown people a form of love and appreciation through gifts?
How has money served your quest for fun & leisure this past year? Do I have hobbies that I spend time on, or are their hobbies I’ve considered but not undertaken? Did I spend on entertainment, dining out, excursions, etc., and how do I feel about that?
How has money served my spirituality this year? Am I spending my dollars as well as my time and talents within my community? Do I take any personal time for myself or go on retreats with others? What charities am I giving to, and why?
As you explore these different aspects of your life, ask yourself, “Am I satisfied with how I’m allocating my time and money?” For those areas where you feel underserved, what could you reallocate? Or for some of you retired folks with excess savings, where could you simply spend more next year?
The important thing is to truly reflect, because where you spend your time and money is a constant trial and error process that will evolve as your life and priorities evolve. So I hope you’ll take some time over the holidays to quietly reflect on what’s most important to you right now, and how you can align your wealth to those areas for 2025. And if you need some encouragement or guidance, we’re only a phone call away.
Happy Holidays and here’s to wishing you all a safe and healthy New Year!
Investment Advice offered through Great Valley Advisor Group, a Registered Investment Advisor. Great Valley Advisor Group and Haas Financial Group are separate entities. This is not intended to be used as tax or legal advice. Please consult a tax or legal professional for specific information and advice.
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