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#1: Accumulated MoneyThere are basically three types of money. The first - which gets the most focus - is your Accumulated Money. This represents the amount of money you currently have invested and are currently saving. On a scale of one to ten, how would you say you are doing in accumulating the dollars necessary to meet your future retirement needs, wants and goals? Any answer less than ten would mean that perhaps you should be putting more money away.
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#2: Lifestyle Money
One reason that keeps people from saving is Lifestyle. Lifestyle Money represents the dollars that you are spending to maintain your current standard of living; where you live, eat, vacation, etc. How much energy would you like to spend towards reducing your present standard of living so that you can save more? The truth is… we all know we need to save more and most want to do so. The problem is… the only place we think of and know to get the money from is our lifestyle.
#3: Transferred Money
This brings us to the third type of money which is Transferred Money, and it is a problem for many. Transferred Money represents the hundreds and thousands of dollars you may be transferring away unknowingly and unnecessarily. Obviously, if you knew where the transfers were taking place you would have already solved those problems and plugged the leaks in your finances. As we sit down with you, we'll explore a few possible areas where you may be transferring money away which can be recaptured.
FocusStage feels it is important to begin by focusing on money you may be transferring away unnecessarily, because this most often has the biggest impact on your Circle of Wealth over time. The interesting thing is that by avoiding unnecessary transfers, dollars are then freed up to put towards accumulation or lifestyle… with no additional out of pocket cost.
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