The One-Page Financial Plan: A Simple Way to Be Smart About Your Money #2
So now I’m getting into the tasks of the book. Turns out I’m a little ahead, and a little behind.
One-Page Financial Plan book PART 1: Discovery
The first section of the book is all about probing yourself to find out what you value and really want.
The author is pretty straight forward that this can make people cry. Following his directions, which are clear and specific in a way that keep you on track, you can’t lie to yourself.
What do I want?
What I have always, always said the thing that motivates me most is my desire to travel the world and learn languages. When I was really small I planned to learn the top three languages on Earth (English, Spanish, Chinese) so I could talk to almost everyone. I’ve followed through on that the best a could, and it’s an obvious answer to the question “What do you want to do with your life?”
But it’s not all that I want.
TLDR: I want a nesting partner.
This isn’t completely straight-forward for some people to understand, because I do have important life partners. I’m polyamorous. But I don’t have a nesting partner, which is a relationship with someone who lives with me and shares my daily life.
If not a year-round nesting partner, I would like to have a partner that travels with me and spends a chunk of the year with me, every year. I imagine this to be a girlfriend or queerfriend, but probably not a boyfriend. But I’ve been surprised before, so what the heck do I know?
It’s hard to admit you want a specific romantic partner role, when you already have a group of amazing partners. But we’re here for personal honesty, and here it is. I want a nesting partner.
The reason this has anything to do with money is because I literally cannot afford to nest with anyone that doesn’t have at least as much as I do. If their finances match mine, we’ll probably never travel unless they’re willing and able to save fanatically to go dutch with me. I’m already hanging on by a spider-web string to my financial survival.
And that sucks.
Asking Myself: What Do I Have?
The next challenge is evaluating your own current finances. I’m blessed to have previously read a different book that I’ll go over another day, that I also follow. It’s called YNAB, and it made finding out my current finances synonymous with logging into my budget software. Bless this software.
Let me be clear, though: I have completely lost track of my money situation many times in life. Like when I was homeless. Or when I declared bankruptcy and lost my house. Clueless is my baseline. You can pull the info together, I swear it. And this author gives you a simple guide for getting it all together.
Part 2: Spending and Saving
In the second part of this book, the author talks about tracking spending and recommends a spending cleanse, aka: temporarily stop buying things.
The budgeting part is an easy sell for me because I already do, using the YNAB software. This author says everyone finds something surprising when they track their spending, and I can back that up. For me- I found out that I have spent and average of $240 a month on my ESA dog since I got him.
I’m pretty keen on the spending cleanse idea, in a way, especially after reading Cait Flanders’ book The Year of Less. So I guess one down and one to go. Turns out I’m going on a spending cleanse. He does offer alternatives to the cleanse for people who think that’s extreme. But “Extreme” is my middle name, baby. I’m in.
Also covered in here are investing, making decisions about life insurance, and navigating finances with our values in mind.
Here is how I started, before the book:
- Pretty anxious about my long-range financial situation
I was completely prepared to beat myself up for mistakes, failures, and maybe even not deserving money. But this author has no patience for blame and shame, so I calmed that down a bit.
- Perhaps a bit misguided about my life goals
I knew that travel, language, culture and my dog are important to me. I wasn’t really looking directly at my relationship goals.
- I had calculated my current finances already
Yay! I was ahead on this one.