We live in an age that glorifies multitasking. Multitasking doesn’t make us more productive; it scatters our focus and diminishes the quality of our work. When we try to do everything, we end up doing nothing well.
The idea that we can do anything suggests that our potential is boundless and that with effort, creativity, and determination, we can achieve great things. And this is true. But the reality is that trying to do everything dilutes our efforts, leads to burnout, and often results in mediocrity.
One of the most challenging aspects of prioritization is learning to say “no.” When you recognise that you can’t do everything, you must start making choices about where to invest your time and energy. This means saying “no” to good opportunities so that you can say “yes” to the best ones.
Life rarely offers us the luxury of focusing on just one financial goal at a time. Instead, we’re often juggling multiple priorities, each demanding our attention and resources. Whether it’s saving for retirement, paying down debt, investing in education, or enjoying the present, the challenge lies in deciding which financial goals take precedence.
The decisions we make aren’t just about numbers; they reflect our values, beliefs, and vision for the future. At the heart of every financial decision is a set of core values. These are the principles that guide you, whether you’re consciously aware of them or not.
The first step in navigating competing priorities is to identify what truly matters to you. Is financial security your top priority? Or do you place a higher value on experiences and making memories now? By clarifying your values, you can create a framework that helps you make consistent, aligned financial decisions.
Your emotional energy is a precious resource. It’s how you think, plan, decide, and create. In our lives, there are people and things that put fuel in our tanks, and there are forces that drain them. Your energy is your responsibility to manage and protect. Carefully consider the inputs and outputs that are helping or keeping you from creating balance. What is your energy level today? If you’re depleted, make plans to manage what’s coming in and going out of your life differently. If you’re feeling topped up, identify the practices you need to maintain to be your best self.
Apply a small exercise to acknowledge what are your drains versus your gains by asking yourself:
- Who and what is draining your energy?
- What steps can you take to eliminate or decrease these debits from your energy during the upcoming week?
- Who and what is energizing you?
- What steps can you take to build more of these positive interactions and experiences in your schedule during the next week?
Competing priorities often pull us in different directions, creating a constant tug-of-war between immediate needs and long-term goals. We encounter these trade-offs daily. Rather than trying to eliminate the tension, our task is to navigate it with clarity and intention, knowing that the choices we make today shape our future. By embracing this dynamic, we can craft a more purposeful journey where our financial decisions align with our core values and long-term aspirations, leading to a richer, more satisfying life.
Veronika Holubova (MFinP, GradCertFP, ADFP, DipFP) is a representative of Alman Partners Pty Ltd, Australian Financial Services Licence No: 222107.
Any information provided to you was purely factual in nature. It has not been taken into account your personal objectives, situation or needs. The information is objectively ascertainable and is not intended to imply any recommendation or opinion about a financial product. This does not constitute financial product advice under the Corporations Act 2001 (Cth). It is recommended that you obtain financial product advice before making any decision on a financial product such as a decision to purchase or invest in a financial product. Please contact us if you would like to obtain financial product advice.