How well do you know your own financial picture? Want to get a better understanding of where you stand and how to improve? Where do you even begin?
Sometimes, diving into your own financial situation to really understand it can be daunting, especially if this is new territory for you. There’s no need to feel overwhelmed. Start where you are.
Getting started can often be the hardest part, and you’ll feel more confident as you are more aware of where your money is and what it’s really doing for you. And when you can’t figure it out, we are here to guide you!
Understand your cash flow.
This is not advanced accounting. You have money going in, and money going out. How much? How often? Are you overspending? Not saving enough? Where can you make adjustments? At least once a month, sit down and look closely at your spending. Have you accumulated more video streaming services than you can possibly use? Has your restaurant spending crept upward? Have you accounted for saving for that vacation you’ve been dying to take?
Streamline your accounts.
Simpler is often better. Sometimes clients admit to squirreling money away in various accounts and institutions to “hide” it from themselves. Or they’ve had multiple career moves and never got around to rolling over their 401K savings. With too many scattered pots of funds, it’s easy to lose track of overall performance of your money. Let’s minimize the number of accounts you’re working with to ensure we are minimizing expenses and maximizing opportunity.
Align with your values.
Go through a list of values (there are many lists of values floating around the Internet, my favorite is from Brene Brown). What stands out to you as important? Circle everything that resonates. Now go through that list again. Put check marks next to your top 10 – maybe some can be grouped together in a broader category. Give that a moment to sink in and go through the list a third time. Rank your top 3 value — what’s really most important to you? Now, look at your cash flow. Is how you use money reflective of your top values? Is the way you earn you living in alignment with what’s most important to you? If that doesn’t all align, why is that? What should change?
Make a plan. And stick to it.
Here’s where we come in. Let’s talk about your values and goals and put a plan together that will give you peace of mind about your future.