Financial Peace: What Is It and Why It’s so Important
When speaking with our clients, we often mention the term “financial peace.” What is it? Like the name implies, it means achieving a sense of security that your financial needs are being met today and will be met tomorrow. That is pretty much the same definition for everyone.
Think of it in this way: if you are comfortable about covering your expenses today, you have achieved a level of security. Achieving financial peace is on another plane: it is long-term confidence and deep-seated belief that your expenses and goals will be met far into the future— the “nirvana” of financial management.
Yet, where the bar is set for achieving financial peace is certainly not the same thing for everyone.
Here’s what financial peace is not: It does not mean enriching one’s self only for the sake of gaining more and more wealth. Financial peace doesn’t mean attaining a level of wealth that enables a person to make any purchase he or she desires at any time of life. The point of financial peace is not to simply “have money” on hand. It requires much more forethought and planning.
Financial Stress vs. Financial Freedom
Financial peace does mean matching the objective of fulfilling one’s goal of financial security with the strategies needed to attain it. For instance, can you comfortably pay your bills and save the money you need? The first steps would be to invest in yourself and as firm we pride ourselves to have the tools and resources to teach you and coach you using your income as a guide for your lifestyle, your family needs, and personal financial growth.
Consider how money issues can strain marriages, family bonds, and relationships with friends and even society. Consider also the heavy stress that concerns about financial obligations can weigh on you personally.
The key to attaining financial peace is the ability to use current and future earnings to the degree needed to achieve those individual goals. It is having a sense of security now about your current financial situation that will allow and let you addresses how you will reach your financial security 5, 10, or even 20 years from now.
At Isakov Planning Group, our clients know that how they manage their money today is critical to the likelihood they experience financial peace. By giving every dollar a purpose, the freedom of financial peace can be closer than you think.
Contact us today for a free no obligation review to help you think about money and how it can change your hopes for a peaceful financial future.