Tag Archives: Finance

The Currency of Money

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If someone asked you what your currency is, chances are you might say the currency of your country which in my case is euro.  

​What if the question was – what are your currencies for life?
​My answer to this would be MONEY, HEALTH, TIME & ENERGY

I haven’t earned money since I left work in October 2021 and while I know I need money to function in the world, not focusing on money as the only currency of my life has opened up a whole new world.

This whole new world allows me to focus on the other currencies of my life which are HEALTH, TIME & ENERGY.

We all need money but money has limitations.

Money can only buy material things. No matter how much money we have, money cannot buy the important things in life. 

We spend a huge amount of our lives working which is trading our precious time for money.

This is something we all need to do but how much of our HEALTH, TIME & ENERGY do we want to trade for this money? 

For 25 years I worked for various companies trading my time for money. Sometimes I traded way more HEALTH, TIME & ENERGY than I was being paid for. 

I am grateful for what these jobs afforded me, what I learned, the skills I built and the friendships I made. However giving so much of my time and trading my time for money no longer suits me and the thoughts of spending 50+ hours working for someone else makes me incredibly anxious and on edge.

I am passionate about many things but I don’t want work to take up such a large portion of my life and time anymore. 

The other areas of my life are so important that I want to dedicate sufficient time to them – Sense of Self, Health, Relationships, Finance, Experiences/Fun, Environment & Contribution – see my Wheel of Life below. 

 

 

 

 

 

 

 

I also want to dedicate more time to the other 3 currencies of my life – HEALTH, TIME & ENERGY.  

Going forward I will focus on how much of my HEALTH, TIME & ENERGY I am willing to trade for MONEY.

When evaluating my work I will be asking the following questions,  

  • How much HEALTH will this cost me?
  • How much TIME will this cost me?
  • How much ENERGY will this cost me?

As important as money may be, it’s worth noting that no matter how much money we have, money cannot buy the other currencies of HEALTH, TIME & ENERGY.

  • MONEY CANNOT BUY HEALTH

Money can allow us the freedom to learn more about health, to learn how to optimise our health and give us time to improve our health but it cannot buy any element of our health for us.

Money can buy better healthcare but not better HEALTH.

HEALTH IS NOT FOR SALE! 

  • MONEY CANNOT BUY TIME

Money can allow us to have more time freedom (which is very important) but we cannot buy more time in our day and certainly not any more time in our lifetime.

When time is spent, it’s gone – no amount of money can buy it back.  

TIME IS NOT FOR SALE

  • MONEY CANNOT BUY ENERGY

Money cannot optimise or give us more energy. 

We don’t have infinite energy in our day, our energy levels will fluctuate depending on how we live our lives. 

We may get a temporary buzz of energy from buying material things and consuming high energy stuff but this is short-lived energy spikes. 

ENERGY IS NOT FOR SALE.

How important is the CURRENCY OF MONEY to you?

How much HEALTH, TIME & ENERGY do you trade for this money?

Are you happy with the balance?

If you are looking for some excellent books on finance I highly recommend the following,

How To Be Good With Money by Eoin McGee

This is a super book that would financially benefit everyone if it was taught in school. Eoin is all about getting the financial basics right then building on them to work towards and achieve financial freedom. Eoin explains all elements of personal finance in an easy to understand, no jargon way which makes this book such an enjoyable read.

Eoin is a super guy to follow on Instagram and he does a Q&A every week which is really helpful. Eoin also runs his own financial consultancy Prosperous, where you can take advantage of those who know best in the financial world to improve your finances.

Money – Master the Game by Tony Robbins 

This book goes into finance in great depth. Finance is not my favourite subject and so I skipped a few chapters as I didn’t enjoy or understand them. Listening to this on audible made this easy to do. As well as chapters I didn’t understand there were chapters that I loved and listened to over and over again. 

Chapter 8 is one of the chapters I loved. It is all about financial freedom and it is worth buying this book for this chapter alone. Tony walks through the simple steps of financial freedom and explains really well how it’s not as difficult to achieve as you may think.

This is an excellent book for those who want to dive a bit deeper into finance and financial freedom.

Think and Grow Rich by Napoleon Hill 

Think and Grow Rich is a literary masterpiece first published in 1937. It’s as much a book about success and manifestation as it is about money. Napoleon Hill’s storytelling is unique and captivating and his 13 step formula for success is easy to understand – implementation takes a bit more work!

This is the type of book that you can read over and over again as you go deeper and deeper into the wisdom shared by Napoleon Hill.

A must read for anyone serious about financial freedom!

Mindset by Carol Dwecke

I truly believe that having a growth mindset is the first step to reaching financial goals. 

While this book isn’t solely about finance it does go a long way to explaining the necessity of a growth mindset in terms of financial success. This book teaches the difference and the inevitable consequences of having a growth mindset or a fixed mindset in all elements of life including business, parenting, school and relationships. 

An absolute brilliant book that I highly recommend no matter what your interests are.

Rich Dad, Poor Dad by Rober T. Kiyosaki

I found many similarities between this book and Mindset in terms of the importance of a growth and abundance mindset when it comes to finance. 

This is a very easy read as the lessons it teaches are told through a brilliant story. The financial teachings are easy to understand and jargon free which is how I like to learn about finance.

A super read no matter what your level of personal financial knowledge is. 

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Thanks for reading,

Siobhain

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My 2024 Goals

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2024 Annual Goals

Setting annual goals gives us DIRECTION for the year ahead. 

Where we end up as a result of goal setting is UNKNOWN but wouldn’t you rather be going in the DIRECTION YOU SET instead of anywhere else?

Annual goal setting gives us PURPOSE & MEANING and the more we work on our goals, the more PURPOSE & MEANING we bring into our lives. 

Using the template outlined in my blog post Setting Dream Driven Goals, I ask myself the following four questions for each area of my life to set my goals for 2024. 

  • What are my DREAM DRIVEN GOALS?
  • WHY are these goals important to me?
  • HOW will I achieve these goals?
  • What METRICS will I use to measure progress?

 

 

 

 

 

 

 

 

All of my goals and everything I do align with the concepts of I Am Enough and Less is More. 

Below are my 2024 Annual Goals for each area of my life,

1. SENSE OF SELF:

Before I dive into my goals in this area, I’ll explain what Sense of Self means to me. 

This category combines my spirituality, personal development, personal strategy and my relationship with myself. This category is all about who I am, who I want to be and how I feel about myself & the world around me. This is also where I work on the concepts of self love, self worth, self esteem, self belief, self trust, self confidence, self assurance, self understanding, self respect, self awareness and self observation.

The success of this category determines the success in all other categories of my life and so it is the most important category of my life. 

What are my Sense of Self Dream Driven Goals?

  • To prioritise, understand and learn more about myself to bring the best version of my truest, most authentic self to my life, my relationships & the world. 
  • To learn more about, grow and stay grounded spiritually. 
  • To utilise, improve and learn more about my personal strategy.

WHY are my Sense of Self goals important to me?

My Sense of Self has taken a bit of a battering over the past few years and so it’s pretty unstable at the moment. This means my entire life feels unstable – this is not a nice place to be and not somewhere I want to spend too much more time in!

My personal strategy keeps me on top of everything & ensures I get everything done with no stress, strain or pressure! The more visibility & understanding I have in my life, the more I can see what areas I want to improve and change. 

When I don’t utilise my personal strategy I feel disorganised, overwhelmed, under pressure, stressed, less grounded, less happy & less fulfilled. 

HOW will I achieve my Sense of Self goals?

  • Learn more about sprituality, psychology and concepts of self 
  • Create my personal strategy for 2024 and carry out regular plans and reviews 
  • Journal daily – daily journaling is a game changer in terms of self awareness
  • Spend sufficient time in solitude – I’m an introvert and so solitude is as important to me as oxygen is! 

 What METRICS will measure progress towards my Sense Self goals?

Progress in terms of ‘Sense of Self’ is difficult to measure, it’s almost intangible. It is however closely linked to my happiness, contentment and fulfillment of which all of the above add to immensely.

Currently I don’t have a measure for this category other than how joyful I feel every day and what I learn about myself. 

 

2. RELATIONSHIPS:

What are my relationship Dream Driven Goals?

To nurture & improve my relationships & spend quality time with Mike, my family & friends  This part of my life is really just about enjoying the company of those I love and who love me.

There is no greater gift!  

My beloved Dad passed away last year. Learning to live with my Dad’s physical absence is something that I’m not sure I’ll ever get used to. I don’t even know how I’ll get used to life without him, it’s just so incomprehensible.  

WHY are my relationship goals important to me?

My relationships with those I love are my greatest source of happiness and I want to ensure my relationships are given the time and focus that they deserve.

The work I do in the Sense of Self category will also support my relationships to ensure I bring the best version of my truest, most authentic self to my relationships 

HOW will I achieve my relationship goals?

  • Navigate the journey of grief for my beloved Dad which brings me much sadness.
  • Spend precious time with Mike, my family and friends which brings me much joy.

What METRICS will measure progress towards my relationship goals?

There are no metrics in this category although I do ensure I capture the precious time I spend with those I love in photos and journaled memories.

 

3. HEALTH:

What are my health Dream Driven Goals?

Mental & Emotional Health: To nurture & improve my mental & emotional health to create mental & emotional stability and strength. 

Physical Health: To nurture and improve my physical health to be the healthiest, fittest and strongest I can be.

WHY are my health important to me?

My health is the foundation on which everything else is built – without health, nothing else can thrive. 

Over the past few years, my entire perspective on my health has changed. It is no longer about being healthy because I enjoy eating well, exercising and fitting into my clothes. Health is now about longevity and having fitness, strength & mobility to enjoy that longevity.

Dr Lisa Misconi says ‘Your health in mid life is the biggest determining factor of your health in later life’. This is why it is so important to be the healthiest, fittest and strongest I have ever been!

I feel more grounded, happy, joyful, less anxious, less overwhelmed, less stressed and more at peace with myself, life & everything when I feel fit and healthy.

HOW will I achieve my health goals?

I make the same health goals every year and have learned that progress is not linear. Some years I am at my healthiest, fittest and strongest and some years I am not.

What matters is not so much linear progress, but what I learn about my health and the continuous work I put in to improve it.

1. Mental & Emotional Health: 

To understand and prioritise what supports my mental health. For me, mental health is the most important element of overall health as without mental health, nothing else will function optimally. 

To understand and prioritise what supports my emotional life. I’m an Enneagram 4 and so pretty much live on my emotions! Managing my emotions needs to be a daily practise to stay sane! 

2. Physical Health: 

Continuously work on my physical health to be the healthiest, fittest and strongest I can be. I do this through embedding healthy habits for nutrition, exercise, sleep, relaxation etc. Here I schedule and monitor results of health check ups – optician, dentist, bloods etc. 

 What METRICS will measure progress towards my health goals?

  • Health metrics of BMI, weight, nutrition, exercise, sleep etc
  • Health checks completed and progress on same 

 

4. FINANCE: 

What are my finance Dream Driven Goals?

I only have one Financial Dream Driven Goal – to achieve and enjoy Financial Freedom. 

Financial Freedom is defined as ‘having sufficient income, savings or investments to live comfortably for life and meet all one’s obligations without relying on a salary’. 

I have learned a huge amount about Financial Freedom from Tony Robbin’s excellent book Money – Master the Game. Tony says Financial Freedom is ‘a long-term plan to build the life of your dreams. Tony also says ‘success is doing what you want to do, when you want, where you want, with whom you want, as much as you want, that’s also financial freedom’.

Both of these definitions sit well with me and sum up my dreams for Financial Freedom! 

WHY are my finance goals important to me?

For me, financial freedom isn’t about having a certain amount of money or buying material things. Financial freedom is more about using my financial situation to have the freedom to enjoy all other areas of life as much as possible. 

  • I want the freedom to give as much time as I want to other area of my life
  • I want the freedom to work for joy and not for the necessity of money
  • I want the freedom to contribute to the world however I want to

HOW will I achieve my finance goals?

I use the word ‘abundantly’ throughout my 2024 financial goals as I believe that reaching financial goals has as much to do with a growth and abundance mindset as it has to do with money. 

  • To abundantly spend and enjoy spending 

To enjoy and monitor my spending.

I’m not great at sticking to a budget but what I am very good at is monitoring spend in great detail. This ensures I know exactly how much I spend and can adjust my habits accordingly. 

  • To abundantly increase my financial value 

To increase my financial value – my financial value is my total savings, investments and pensions.

I find financial value is a better metric than earnings as while you could be staying on the same earnings, your financial value could be increasing depending on your savings, investments and pensions. 

In stark contrast your earnings could be increasing but if you are not saving and investing, your financial value could be decreasing.

This year I have one very large financial project and many smaller projects that will all increase my financial value and move me a few steps closer to financial freedom. 

  • To continue with my break from earning money

This is something I never thought I’d say – take a break from earning money! Actually this will be my 3rd year in a row earning less money.

This reduction in earnings has resulted in abundance of another type. I have abundance in terms of time which brings me more joy than any amount of money ever could. With this time, I plan to learn more about finance and build the foundation for my business..

These learnings and business foundation will in time support me to earn more.

  • To abundantly learn more about finance 

To learn more about personal finance and continue to embed a growth and abundance mindset in terms of finance. I haven’t read many books on finance but the books I have read have made a huge impact on me.and my financial decisions.

Below are books I highly recommend to learn more about personal finance. 

  1. Money – Master the Game by Tony Robbins – I highly recommend this excellent book’. I didn’t understand all of it but it’s worth reading for chapter 8 which is all about financial freedom. According to Tony, it’s not as difficult to achieve as you may think. I listened to this on audible as I found it easier to understand as some chapters I had to listen to a few times.
  1. Think and Grow Rich by Napoleon Hill – this bestselling book was on my bookshelf for years before I finally read it last year and I look forward to reading it again this year. It’s the type of book that you can read over and over again as you go deeper and deeper into it’s wisdom. A must read for anyone serious about financial freedom! 
  1. Mindset by Carol Dwecke – If you want to learn more about a growth mindset I highly recommend you read Carol Dwecke’s book Mindset. This book teaches the difference between having a growth mindset and a fixed mindset and the consequences of both. I truly believe that having a growth mindset is the first step to reaching financial goals. 
  1. Rich Dad, Poor Dad – This is a very easy read as the lessons it teaches are told through a brilliant story. The financial teachings are easy to understand and jargon free which is how I like to learn about finance. I found many similarities between this book and Mindset in terms of the importance of a growth and abundance mindset when it comes to finance.  

What METRICS will measure progress towards my finance goals?

  • Progress in large and mini projects 
  • Monitor total spend which is detailed, capital and business spend
  • Monitor total financial value which is profit, property & pensions (minus debt)
  • Monitor total earnings and income
  • Document and action financial learnings 

 

5. WORK:

I currently spend the least time in this category which is ironic as for 25 years it is where I spent the most time! Even though I now spend the least time here, it is the area of my life that is changing the most. 

Having left my day job in October 2021, I am currently in between working for others and working for myself. 

My only focus at the moment in terms of work is on writing, writing and more writing! 

What are my work Dream Driven Goals?

  • To be a writer and build my own business
  • To practice and teach Lean philosophy
  • To continuously learn and improve my skills
  • To enjoy every minute of this process

 WHY are my work goals important to me?

  • My favourite thing to do is write.
  • My second favourite thing to do is read which helps me be a better writer.
  • I have always wanted to work for myself and have total freedom over my work, my time, my finances and my creativity. 
  • My business will be a channel to achieving financial freedom. While I’m not focused on earning money from my business at the moment I will be building the foundation on which money can be earned in the future.

HOW will I achieve my work goals?

  • Create more time to read and write
  • Write weekly emails consistently – you can sign up for my weekly email here
  • Write new blog posts and learn more about writing and blogging
  • Write and share social media posts consistently 

What METRICS will measure progress towards my work goals?

  • Progress in creating more time to read and write
  • Consistency in sending weekly emails and posting on social media
  • Consistency in writing and publishing new blog posts
  • Learnings and improvement in my skills 

 

6. EXPERIENCES/FUN:

What are my Dream Driven Goals?

To have enjoyable experiences, have fun, smile, laugh out loud & not take life too seriously!

WHY are my Dream Driven Goals important to me?

Because it makes me feel good! 

 HOW will I achieve my Dream Driven Goals? 

  • Spend time with loved ones who make me smile, laugh and bring me so much joy
  • Plan experiences that bring me joy and make me feel alive
  • Be more aware of everyday activities that bring me joy and do more of them
  • Be more aware of everyday activities that don’t bring me joy and do less of them

What METRICS will measure progress towards my Dream Driven goals?

There are no metrics in this category although I do ensure I capture fun times in photos and journaled memories.  

 

7. ENVIRONMENT:

What are my Dream Driven Goals?

To improve and enjoy my environment which is our home on a personal level. Remove everything that doesn’t serve me and only keep what brings me joy. 

WHY are my Dream Driven Goals important to me?

Because it makes me feel good and I enjoy looking after & improving our living space.

HOW will I achieve my Dream Driven Goals? 

  • Carry out Marie Kondo’s decluttering in our home. Marie’s overarching teaching is to remove anything from our homes that doesn’t SPARK JOY! Marie’s book ‘The Magic Art of Tidying Up’ is a must for anyone who wants more space in their home and life! 
  • Decorate our home with the support of an interior designer. This has been on my goals for 2 years and I haven’t got to it yet – maybe this year!

What METRICS will measure progress towards my Dream Driven goals?

  • Progress in Marie Kondo’s decluttering on our home. 
  • Progress in decorating our home with the support of an interior designer

8. CONTRIBUTION

What are my Dream Driven Goals?

To contribute to the world financially and also with my time & skills.

WHY are my Dream Driven Goals important to me?

I want to give back because the world has given and continues to give me so much 

HOW will I achieve my Dream Driven Goals? 

  • I have been supporting 4 main charities that mean a lot to me for many years. All of these charity direct debits are currently on hold as I’m not working but I contribute financially to charities with once off payments. 
  • Contribute to the world with my time & my skills – this means different things at different times

That’s it, my 2024 goals.

Whatever your goals are, I wish you success, love, health and happiness as you live your best life every day. 

If you want to follow my journey, you can sign up to my weekly newsletter by downloading my free ebook ‘The A-Z of Effective Change’ below. 

Thanks for reading,

Siobhain

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