Page 8 - Workbook1E

1. Your Values
It can be hard to focus on anything but money when you’re drowning
in debt. First you have to decide what is most important to you—your core values. Only then can you decide how much money you really need. You may discover that what’s most important to you in life has little to do with money. Your values are a reflection of your beliefs, your moral standards, your code of behavior, and your deepest commitments.
Examples of values include honesty, responsibility, kindness, spending time with your family, living within your means, caring for your environment and community.
The I-beam Test
The I-beam Test is a great way to show what’s most important to you. Two skyscrapers of identical height face each other across a busy street. A long and narrow I-beam made of steel reaches from the top of one
#1 building to the top of the other. You’re standing at the end of the I-beam on top of one building. Facing you on the other end of the beam is a
tall, strong man. He is holding something in his hands suspended over the chasm. He tells you he’s holding something you value and you must quickly cross the beam to claim it or he’ll drop it.
It’s your decision. What things are important enough for you to risk crossing the I-beam? Check everything you would be willing to make that dangerous trip for:
Any new car of your choice A fabulous vacation
Your dream house
The perfect job
Your son or daughter $10 million
4 Workbook 1: Building a Spending Plan that Works