#Financial blueprint meaning how to
Without a blueprint, I may have had the goal to retire early but I wouldn’t have had the plan on how to achieve the goal. I may or may not achieve my goal, but the fact I have a blueprint substantially increases the chances and makes the journey much more fulfilling. My money now had a purpose, but more importantly my life had more purpose. To see it in writing that it can be done really was a light bulb moment for me. With a goal to have enough money to retire by age 50 and a detailed plan of how to get there I now had my own personal blueprint to early retirement. You probably don’t have a mortgage at this stage, no kids, and lifestyle inflation probably hasn’t crept in yet. Your 20’s are a great opportunity to save a lot, as this is a time in your life where you have the least expenses. One that would help me to achieve a more fulfilling life not ruled by money.īefore I could get started on the journey though, I first needed to change my bad behaviours from my old blueprint of frivolously spending money, because my previous identity was not aligned to my new blueprint/plan. So instead of wasting $2,000 a month on non-essential expenses, I saved for 4 years to buy an apartment in my late 20’s. I all of a sudden had a new blueprint forming. It really just comes down to some math followed by a passion to achieve. Upon this realisation I proceeded to calculate how much I needed for retirement and how I can reduce my working years. My blueprint that I grew up with had steered me in the wrong direction. Until this point I had assumed that this was a given. At the same time I realised I don’t have to work for 40 years. It is not until I came across success stories of people like Pete over at Mr Money Mustache that I came to the realisation that I need a lot more money than I thought. With my student loan in tow, I had less money at age 25 than I had the day I was born. I was single throughout my 20’s, yet often I was spending $1600 a month on food and eating out, $400 a month on CD’s and $400 a month on alcohol.
I was spending all my income each month my worst vices were on CD’s (remember those?), drinking and food. Staring down the barrel of working for 40 years until retirement, hopeful I would have enough money scraped together to last all my days. I was well on this path deep into my 20’s. Hope is not a plan neither is hanging out for the winning lotto ticket. If you are like me, your new money blueprint may even add to your life satisfaction. A good blueprint will make the most of every dollar to help you get there faster, without any sacrifice of happiness. Money is just a vehicle that can be used to help you achieve your personal goals out of life. We all need our personal blueprints designed in a way that best suit our personal strengths, weaknesses, likes and dislikes, wants and needs. A well set blueprint will set the most efficient path for you to achieve all your life goals using money as the vehicle to achieve this. Money should not be the end goal. We are all so very different with different wants and needs for life. What works for one person does not work for another. Or that we will receive a big inheritance. We generally live paycheck to paycheck and hope everything will be ok and that the government will take care of us. Without a blueprint, or with a disjointed blueprint, many of us go through the motions of going to school, getting a degree, working for 40 years and then retiring to hopefully enough money to last our remaining years. These type of limiting thoughts all affect the blueprint we make for ourselves. If we grew up in a poor household for example, we may grow up to think that money is scarce and we don't deserve more.
We may even have a blueprint without realising it. Or our goals could not be well established or accurate. Our actions may be out of alignment with our goals. For those that do have a blueprint it may not always be designed in the right way. Some of us have a financial blueprint plan for our life and finances, others do not. “It is not until you change your identity to match your life blueprint that you will understand why everything in the past never worked.Ī blueprint is a plan that guides ones actions in a particular direction to achieving a pre-determined goal.
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