In the middle of the journey of our life I came to myself within a dark wood where the straight way was lost.
- Dante Alighieri (1265-1321)
Having answered the “where are you” question by drawing up your balance sheet, it’s time to ask yourself the next question: Are you happy with where you are? For some of you, the answer will be a proud yes. For some it will be a big fat no, and for many more it will be something in between.
If your debt levels are very high, and especially if they are higher than you thought, I’m guessing you are pretty uncomfortable with your position. Maybe you are happy that you have minimal debt, but you’re not sure about some of your investments. Again, discomfort means change is needed.
Take a good look at each line item on your balance sheet. Make a note of which items you are comfortable with and which ones you’re not. You might want to rate each item on a “comfort scale” of say 1 to 5 stars, smiley faces, or whatever floats your boat. Use any scale or symbol you want, but take a good look at each item and evaluate it as honestly as possible.
Once you’ve identified your problem areas and resolved to change, you’re halfway there. It’s like cleaning out your closet, refrigerator, or (insert annoying, time consuming task here). Getting started is the hard part. Once you actually get going, the work can be self-reinforcing as you happily chuck one moldy container of who knows what after another. Before you know it, your closet, fridge, or balance sheet looks great.
Are you comfortable with your balance sheet or are you ready for some change?
One of the things I like about you is the focus on more than money. When I look at the balance sheet of life, I’m pleased… with money, I usually want more.
Dr. S. – Good for you for knowing where you stand with both. Thanks for your kind words.
[...] written about Your Balance Sheet and Net Worth and Evaluating Your Balance Sheet before, but those articles only addressed the financial part of your life. Balance Junkie is all [...]