4 Stumbling Blocks to Personal and Financial Purpose

by: H. James Williams

An original idea in keeping with your purpose can make you rich personally and financially. However, we continually hear about fortunes lost by entertainers, sports figures, community leaders and business owners. The real differences in who manages to get back up to create new fortunes for themselves, personally and financially, are those who continue to invest in their visions with determined purpose.

Consumer spending, with no long-term purpose in mind, is one reason many people have not successfully achieved personal and financial success. Mark Cuban, a successful multi-billion dollar entrepreneur authored an e-book titled, How to Win at the Sport of Business. He asserts in his book that a person’s destiny is predicated upon personal obligation to life purpose and that what most stands in the way of obligation is personal and financial debt.

Debt should be avoided when it does not enhance or improve chances of success for achieving life goals. It does no good to borrow and spend endless amounts of money on unnecessary products and services only to bemoan not having enough money to accomplish lifetime dreams.

It is not being advocated that non-essential consumer spending be totally avoided. What is being advocated is that significant purchases be made with long-term purpose and goals in mind. Purchasing a reliable product or service to serve long-term needs, with reasonable credit terms and the benefit of reliable income, is most likely a prudent investment. Purchasing unnecessary high-end products and services beyond financial means, with unreasonable credit terms, lessens the ability to pursue life goals.

Below are four stumbling blocks that can rob and shortchange a promising destiny or future.

1.  Loans and Personal Agreements

Debt comes with obligation. Be certain you can entertain any debt you incur and repay it as soon as possible. A great bargain of a price for an item purchased on credit for instant possession and gratification can result in costing much more than its original sticker price. Inability to repay and honor debt(s) will result in increased debt, increased interest fees and penalties. Inability to honor verbal agreements is sure to damage your reputation and character. Unmanaged debt has the power to destroy your personal and financial dreams leaving you personally and financially bankrupt.

2.  Taxes and Licenses

Like it or not, the business of life involves paying taxes. Paying taxes is the price we pay in return for the hope of honest public services. Whatever your legitimate income, it will be subject to income taxes. Whatever the materials or services for your income, either may be subject to business taxes, permit fees, registration fees and sales taxes. The success and ownership of your passion and purpose may also involve real estate taxes, succession taxes and other fees. Failure to plan for taxes and business fees while achieving your life purpose may leave you vulnerable to civil and criminal actions and potential loss of professional licenses and certifications.

3.  Maintenance

Life purpose is not without its life-cycle and the need for personal life balance. All phases of any purpose involve care and maintenance. As a child you relied upon others to care for your well-being until you were old and mature enough to care for yourself. Money, recreation, prudent warranties and insurance policies are required for maintaining good health, personal development, continuing educational requirements and maintenance of real and personal property associated with life style and personal occupation. Poor maintenance of health, property and integrity of purpose can lead to complacency, neglected conditions and loss of passion for living.

4.  Idle Romance

Spending elaborate sums of money to attract romantic attention can lead to devastating consequences. Attempting to financially impress someone for love without clear mutual purpose and adoration can be costly. Child support payments, alimony payments, palimony payments, divorce settlements, employment affairs and legal fees can take their toll on life dreams should romance fail. Take every step personally, professionally and financially to ensure you are investing wisely when it comes to affairs of the heart.

Nothing is brought into this life at birth that can be departed with upon death save perhaps one’s legacy and purpose for living. Money is needed for life purpose; but as many spiritual leaders teach and proclaim, laboring to amass more than is necessary for living, in the end, is for naught. What purpose your life serves becomes your ultimate testimony and purpose for living. Spending money in accordance with your life purpose serves to that end in keeping with the biblical adage that, “. . . to whom much is given, much is required.”

Think of money as denominations of worker bees dedicated to being managed to assist you with accomplishing lifetime goals and pursuits. Consider the services of a trustworthy certified financial planner or accountant in this regard. Life purpose and financial responsibility go hand-in-hand.


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H. James Williams
Mr. Williams owns and operates Aliant Coaching Services located in Baltimore, Maryland. He is a certified personal coach and publishes inspirational booklets and posters. He is the author of two books, "Wavelets of Purpose" and "Addae’s Journey"