The “Financial Body”
or “FinBod” can live
for GENERATIONS
Use our comprehensive scoring system to check the health
of your wealth. Your FinBod Score can help you analyze
your current financial situation (both mentally and physically)
and provide helpful steps to keep your FinBod healthy for years
About Finbod
The “Human Body” has a beginning, a middle and an end. We are born, we grow old, then we die. The “Financial Body” or “FinBod” works in similar fashion, but with one great distinction…it can live for generations.
The fact that wealth CAN be passed on throughout generations of human families proves that a “FinBod” that was created by someone in the 1800’s, if tended to and managed properly, can benefit the human owners for decades or longer.
FinBod Lifecycle
Our “FinBod” has a lifecycle. We can start our Financial Bodies
a couple ways. The most common way for a FinBod to come into
existence is when we start our first job and begin our financial
lifecycle journey. From the very first day we earn a dollar, we are
faced with decisions that impact our FinBod:
- How much to withhold for taxes?
- How much to save before taxes are taken out (401k, 403b, etc)
- How much of money to spend on things we need or want?
- How much to invest?
- How much to give/donate/tithe?
FinBod Anatomy
Let’s look at how the “FinBod” compares to a human body.
The basic personal financial balance sheet consists of Assets, Liabilities, Income & Expenses.
Assests
In a FinBod, Assets are the bones and muscles.Assets provide strength and structure to to the personalfinancial plan and your FinBod.
Income
Income is the life blood of not just your personal life, it’s the lifeblood of your FinBod.
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Liabilities
Liabilities are like fat to the FinBod. Just as there’s good debt and bad debt…there’s good fat and bad fat.
Expenses
Expense management is a major contributor to personal financial success and the overall success of your FinBod.
#FinBod Advice
An advisor shared some sage words with me years ago
“Competence brings Confidence”. In order for our financial bodies to grow and serve not only us but potentially
generations of family to come, we must expose and educate. We must increase our competence in personal finance.
With increasing knowledge, we will move to make more confident financial decisions.
These decisions lead to healthy financial habits, which leads to healthy financial behaviors and ultimately healthy financial traits that
take form through the Financial Bodies we create over our lifetime.
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