Financial planning is like driving on the journey of life.

I have been thing about how to making financial planning for relatable. Because money and spending is so abstract, yet fully embedded in everything that we do. It's hard to separate it and think about money without too much emotion. 

Guidelines on financial driving on the journey of life

1. Have a fuel gauge - know how much cash I have and amount I need to the next paycheck or income source. Make sure I have emergency reserve and will never go on empty. I don't want to get stuck on the side of the road. Emergency expenses is most expensive. 
2. Steady speed - be intentional about my spending. Avoid quick purchases and focus on the necessities. 
3. Keep a light load - Assets and debts reduce efficiency and increase weight. Carry what I need and things that bring joy (being in the moment). Be intentional about long term benefits and opportunity cost of everything else. 
4. Regular maintenance - Situation and circumstance are constantly changing. I regularly do a holistic review of my investments, income sources, expenses, and subscriptions, and debts. Close out unused accounts, find better services to make sure I’m getting the benefits that truly match my current situation. 
5. Know where we want to go - Building our map and key destinations. Have regular family conversations about our financial situation, goals, and destinations. Investing my family’s future so we get to our destinations stress-free. 
6. Enjoy the journey - Take time to celebrate and experience wonders together. Perhaps this should be higher than #6. 

Credit: Gemini

What do you think about driving as a metaphor for financial planning? 

Ricky