E17: The Purpose of Income
The first time we explained this framework, we were on a campus and speaking to a group of students, faculty and staff talking about what it takes to build a “Modern Money Mindset”. One of the steps was giving your income purpose and the audience was baffled about what that meant. In this week’s episode, we explain the same framework we taught them. It’s designed to help you to think about your income differently and give it purpose that goes beyond what you’re spending it on. Budgets are important, but giving your income a larger purpose will help you gain clarity on your goals, stop chasing income indefinitely and put your money to work so you don’t have to work for it.
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