When the Titanic set sail in 1912 it was declared to be ‘unsinkable’ because it was constructed using new technology. The ship’s hull was divided into sixteen watertight compartments. Up to four of these could be damaged, or even flooded, and the ship could remain afloat.

When the Titanic sank on the 15th April 1912, 1,513 people tragically lost their lives. It was thought for many years that a long gash caused by the collision with an iceberg had ruptured at least 5 of the watertight compartments.

However, on the 1st September 1985, when the wreck of the Titanic was found lying upright on the ocean floor, no such long gash was found in the ship’s hull. What they discovered was that damage to the front compartments impacted the rest of the compartments. Water filled up to the top of the watertight bulkheads, and then spilled over into the next, and the next, and the next, until the unsinkable Titanic…sank.

Many people make the same mistake with their own lives, thinking that damage in one ‘compartment’ of their lives will not have an impact on others. Or that success in just one area will mean they will be successful in the whole of their lives.

Take money, for example. As Jim Carey once stated, “I think everybody should get rich and famous and do everything they ever dreamed of so they can see that it’s not the answer.” How many wealthy people have you heard of who destroyed their lives through bad decisions in their relationships, their health, their time and yes, their use of money?

Holistic financial planning cannot be just about money. Success in money, wealth and riches, does not guarantee success in life. In fact, money can be very dangerous when not treated with the care and respect it deserves. Money is a tool, and how you use your money is what will bring you success or failure in life.

Prioritise which areas of your life need most work to improve the whole of your life: –

  • Is it your health? Then choose to spend your wealth getting fitter and healthier.
  • Is it your relationships? Then choose to spend your money buying time with those you care about most.
  • Is it your attitude to money itself that is damaging you? Then hold on to money lightly, be generous with it, bless others with it, and see it as a tool that you can use to do good to those around you and leave a legacy that will last long beyond your bank account.