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Follow the money. Whenever a businessperson makes a financial decision that turns out to be productive, it’s based on values using a financial compass — knowing what to do and when to do it.

If you use a financial compass with 22 values, you’ll be guided to financial success.

In guiding your behavior with money, values are principles by which you will scale your business or operate your personal affairs.

To start, for maximum clarity in finance, it’s a good idea to list your values and budget for your major liabilities and miscellaneous expenses.

By living with such values, you’ll enjoy a financial life that will flow nicely. You’ll have fewer expenses, money for unexpected overhead, and a really great safety net.

Timeless values to guide you to success:

  1. Know yourself and your basic budgeting needs. Know how much you need and how much you have.
  2. Identify what you want. Define your own success in finance – wake up enthusiastically to address money matters or work on your attitude until you can smile.
  3. Understand what makes you fearful. Fear is critical for your success, if you use it for motivation to take advantage of opportunities.
  4. Don’t give away your power. Whatever you fear most in finance does not have any power over you. Remember, it’s your fear that has the power. Maintain control of your emotions. The one thing in business and life you can control is your effort.
  5. Always be saving even if it’s only a penny. You’ll be surprised how much compounding interest will help your situation. Spend less money than you earn.
  6. It’s never a mistake to pay down your debt.
  7. Think carefully before taking on new debt.
  8. Each time you splurge, know that it has less value and less value to you over time.
  9. Decrease all your spending until it adversely affects your needs and you are miserable with the changes.
  10. Minimize your expenditures – you’re much better off lifetime if you only buy a few items of quality vis-à-vis a lot of cheap items that eventually will just sit in your closet.
  11. Invest as much time as possible in your relationships and hobbies, which will give more balance and meaning to your life so you’re less tempted to spend.
  12. For all expenses – in the near future or in the distance – budget and save for them now.
  13. Focus on all financial issues now. Don’t assume you’ll have the energy and health to be able to take care of future matters.
  14. Be absolutely communicative and transparent with your partner about all matters in finance.
  15. Know you’ll face financial tsunamis or roller coasters throughout your career – be ready for them with an emergency fund.
  16. For positive impacts on your life, practice the Golden Rule – “Do unto others as you would have them do unto you.” (Matt. 7:12).
  17. Once you know how much you have and need and you’re not succeeding financially, get the right skills for the right amount of money to achieve your financial goals. In this Digital Age, it usually involves upgrading technical skills while doing what makes you happiest.
  18. Stay within your means and buy a home as inexpensive as possible – if you want one – not just because you want an investment. New homeowners tend to overlook the expenses involved with a house.
  19. Don’t ignore insurance for important aspects of your business and life. Especially, even if you’re young, buy health insurance.
  20. Enhance your credit. Yes, credit card debt is awful. But it’s vital to develop a credit history with on-time payments for your credit score.
  21. Stay focused on your financial goals.
  22. Pay it forward. Look around for someone to help who is less fortunate than you, or mentor someone who would profit from this philosophy of adhering to financial values. You’ll really enjoy your success, if you do.

From the Coach’s Corner, below are five relevant articles on finance. (If you don’t see what you need, there are dozens more in this portal’s finance section.)

7 Steps to Wealth and High Net Worth — Creating wealth and enjoying high net worth doesn’t result from pure luck. It takes a certain mindset and strong action. Here are seven proven steps.

Due Diligence for Getting the Most from Your 401(k) – Will you be satisfied with the results of your retirement planning? With the stock market soaring in recent years, there are even more trillions of dollars in 401(k) plans that allow employees to save for retirement and acquire wealth. Here’s how savvy employees avoid regrets with 401(k) plans.

Finance: Zero-Based Budgeting Aligns Resources with Priorities – Zero-based budgeting (ZBB) is no longer just your average budgeting technique. ZBB means all expenses must justified for all functions and analyzed for company needs and costs. Here’s how to convert to ZBB.

Even in Our Strong Economy, Build Your Emergency Fund – OK, so the economy is strong and sunny. But here’s a reality check: When businesses fail, probably 80 percent crash because of poor cash flow. Establishing an emergency rainy-day fund is not an option. Don’t get soaked. Here’s what to do.

Tips for Strategic Thinking in Finance: Your Staff, Individuals – Many companies want accountants and finance professionals who are strategic thinkers. But that’s not happening at most companies. Here are tips for managers and employees.


“Your net worth to the world is usually determined by what remains after your bad habits are subtracted from your good ones.”

-Benjamin Franklin

Author Terry Corbell has written innumerable online business-enhancement articles, and is a business-performance consultant and profit professional. Click here to see his management services. For a complimentary chat about your business situation or to schedule him as a speaker, consultant or author, please contact Terry.