Diligent Financial Planning

Dictionary.com defines diligent as “constant in effort to accomplish something; attentive and persistent in doing anything“. As a working definition that is fine, but when it comes to execution there is more to it.

Negative Diligence

Throughout life we encounter people who almost seem as if they are determined to fail. However, have you ever met someone who really wanted to fail? Probably not. Yet, despite a desire to succeed, some people just seem to continuously come up a little short of the mark, as if they were diligently pursuing failure. This can be painful in many areas of life, including work, relationships, sports, marriage, parenting, and finances. This post is just concerned with the financial aspect.

Diligence in Finances

Most of us at some point have found ourselves lacking financially. It may be we cannot buy the house or car we desire or that we cannot start or expand a business. My guess is that most people, when encountering this, do not realize that the reason they are where they are is that they have not been exercising diligent financial planning. Oh, they may say that they watch every dollar they spend, rarely go into debt, and so on, but that is more of the execution aspect and only a part of diligent financial planning.

It Starts with a Vision

In earlier articles (Why You Need a Vision Statement, Why You Need a Values Statement and Why You Need a Purpose or Mission Statement) I talked about the absolutely necessity of having in place your vision, values, and purpose(s). Vision is that first step to achieving anything. Without it you are almost assured of falling short of the mark.

“Where there is no vision, the people are unrestrained, but happy is he who keeps the law.” – Proverbs 29:18

Think carefully about that. In modern day language we might hear the same idea expressed in other ways.

“If you don’t know where you are going, any road will get you there.” Lewis Carroll.

Of course the problem is we end up somewhere we would rather not be. So, mentally very vividly visualize where you want to be in 1 year, 5 years, 10 years, etc. Then write this down and frequently review it. In the financial arena, how much do you want in assets, and what do you desire the sales and profitability of your company to be? Do you have a vision for what employees will be like when it comes to skills, ability to grow, etc.? By the way, if you have a business, your employees are integral to accomplishing you financial vision, so don’t overlook them.


Values are a critical bridge between vision and mission or purpose. You will not be comfortable with your vision if it goes against your core values, and you will be less likely to diligently pursuer your vision. So what are your values? Consider such things as integrity, being a contributor to the success of those around you, etc. When it comes to financial planning, you must consider such things as how you will use your financial resources. If they are strictly to be used for your own pleasure you will find yourself very disillusioned.

Purpose of Mission

This is where the rubber hits the road. If you have a clear vision that incorporates your values, then your mission or purpose will support the vision and will help you define the goals, mini-goals, and actions to realize the vision. Do the financial implications of your mission have a positive impact for not only you but others with whom you come in contact?

Diligent financial planning requires clear vision, consistent fixed values, a well articulated purpose, and attention to the details of goals and tasks.

If you want to know more, contact AimCFO – Contact

As always, your comments are welcomed.


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