The concept of being wealth bound is that your money can only go 1 of 4 directions (https://goo.gl/LAF7ja).
At Financially Fit, our Wealth Compass is a simple, yet effective tool that helps people change the way they feel, think, and act towards money.
Steve Down developed the Wealth Compass to quickly identify which category of spending your money is headed. Once you gain the understanding of the Wealth Compass, as you make purchases or spend money, you will clearly know if you are making spending decisions that are in favor of reaching your personal financial goals.
We’ve all had the experience of contemplating a purchase while shopping in a store or online.
The things that we want to buy create feelings within us. These feelings may create a positive justification that the item is an actual need, or feelings of guilt because it may be an item that you know deep down is an emotional purchase that in the long run will be a waste of money. The item may create a sense of joy as you are making a purchase that will support your family, or a gift that you know will greatly warm someone’s heart.
As the feelings about spending arise, understanding the Four Directions of the Wealth Compass (https://goo.gl/LAF7ja) and how this relates to our spending and buying decisions, causes us to stop and think if our actions are congruent with our financial goals.
Learn more about the Four Directions Your Money is Headed (https://goo.gl/LAF7ja) and how to make decisions that point you in the direction of your financial goals with this Huffington Post article, written by Ben Hardy an avid writer for Medium.