This is the first day of the series, “31 Day to Fix my Finances” following the personal finance management concept written by Trent of the The Simple Dollar.

The initial step of fixing finance is defining the main values. We all live according to a set of values. We based our decision and day to day action with these main values blended with the values of others. How would I define my value then? I simply put it as the ones that matters to me most. The reasons for living-breathing that will satisfy me and will give me a happy and meaningful life.

Why would I define my main values in the first place? What is the connection of values and fixing finances or building wealth?

I always believe that to be successful in achieving specific goal it must start from within, from the inner side of a well being so that it will function both in conscious and subconscious mind. These inner values shall serve as the oil and gas that will fuel our vehicle to reach our destination=goal. Like the inner core of the earth which is responsible maintaining the balance of earth and gravity.

Going back to my main task on the first day of fixing my finances, I come up with the follwing values: financial freedom, security & insurance, family, education, vacation, passive income, fun, health & happiness, house, car, food and savings.

The list was narrowed down to five main values that I considered as my central values. These are the following and were arranged according to priority level:

1. Happiness
2. Health
3. Family
4. Security/Insurance
5. Education

By the way, if you are finding it hard to identify your main values, just imagine that you only have 30 days left in your life - what do you want to possess or experience… then, list what will pop in your mind and trim it down afterwards.

So that concludes my first task. The next activity is defining goals based on the what I considered as my main values.

Image Credit: msmail@flickr