When you receive a large lump sum of cash what do you immediately think of doing with it? Spend it? Save it? Invest it? Pay down debt? There’s no one right answer and there may even be room to do all of the above, depending on your personal financial situation and goals.
Do I REALLY Need A Budget?
4 minute read
I don’t know if you really need a budget, but I do know that a budget can be an extremely helpful tool for most people. Most people never set one up or have any clue what they spend money on. They may think that they do, but they have no idea where their money is really going. It’s so easy to spend without thinking or to tell yourself that “it’s just this one time” or it’s “just a little more than I wanted to spend”. But those “one-time things” and “just-a-little-mores” can add up quickly when they become a habit.
The 3 Financial Tips Young Professionals Need
4 minute read
You see articles all the time talking about creative ways to cut spending and telling you that you need to give up your morning Starbucks to become financially independent. Yes, you could save a significant amount of money over the course of a year by making your own coffee and working out at home instead of paying for a gym membership, but that’s probably not going to be life changing savings. There are 3 areas that young professionals should focus on to ensure that they set themselves up to live a financially successful life that will allow them to reach their goals.
Update Often
3 minute read
You wouldn’t only exercise once per year if you had a goal to become healthier, you wouldn’t only read one article per year if you had a goal to learn about something, and you wouldn’t only write one day per year if you had a goal to finish a book. You shouldn’t only pay attention to your personal finances once per year if you have goals that require money to achieve them. Life is busy and can change quickly – the same can be said for your personal financial situation. Not being intentional with your resources on a consistent basis can lead to lost time, lost ability, and lost opportunity.
Financial Goals For Young Professionals
4 minute read
One of the main aspects of a financial planner’s job is to help clients set goals and work towards achieving them. However, goal setting is very difficult for many people. Whether they’ve never taken the time to do so, have never actually discussed their goals with their significant other, or simply have a ‘live for today’ mindset rather than a ‘think about the future’ mindset, many people struggle with questions like, “What are your goals for your money?”
Why You Should Use A Young Financial Planner
4 minute read
Age is just a number, right? That’s what they say, at least, but young people who are early in their careers sometimes are looked down upon or seen as inexperienced simply because of their age. However, age doesn’t reflect competency, and sometimes it doesn’t necessarily reflect experience. There are many benefits to working with a young financial planner rather than an older one.
Why You Need A Financial Planner Who ALWAYS Acts As A Fiduciary
3 minute read
Did you know that anyone can call themselves a financial planner? Did you know that all “financial planners” aren’t required to always act in your best interest? Did you know that some financial services professionals are incentivized to not do what’s best for you? Those who do things the right way in the financial planning industry can receive a bad rap because of those who act unscrupulously and don’t treat clients how they should. However, there are many who ALWAYS put their clients’ best interests first.
Why Young Professionals Need A Financial Planner
5 minute read
You just graduated college and you want to have some fun and enjoy your new income. You just got married and you don’t want the stress of talking about how to combine your finances. You just had a kid and you don’t think you have the time figure it out. You don’t have enough money to work with a financial planner. There are so many excuses that young professionals make to avoid becoming financially responsible at an early stage in their careers, but you shouldn’t wait until your 30s or 40s or 50s to take responsibility and start being intentional about your financial life. Time is the biggest asset that young people have on their sides.
What Is Financial Planning?
4 minute read
I think that most people have a preconceived notion of what financial services professionals do and I think that the term “financial planning” usually gets lumped in with that idea. However, financial planning is probably far from what you think it is if you lump it in with the jobs of most other financial professionals. It isn’t managing someone’s portfolio through buying and selling stocks for them (although this can be part of a financial plan) and it isn’t selling someone a financial product. True financial planning involves taking a deep dive into every aspect of a client’s financial life, helping them to organize, set goals, and create a plan to reach those goals, and helping the client follow through on their plan. A financial plan should paint a picture of where you are, help you figure out where you want to go, and define the steps that you’ll need to take to get there. Succinctly, financial planning involves helping others allocate their money and other financial resources in a way that aligns with their goals and values.
Reflect & Start Fresh
4 minute read
You didn’t really need a new year to have a fresh start but you’ve got it, so you might as well take advantage of it. The beginning of a new year is the time when many people vow to be better than the previous year and to start being more intentional about reaching their goals. Maybe you spent more than you planned on over the holidays. Maybe you didn’t quite reach your financial goals in 2018. Maybe you reached all your 2018 financial goals and you’re hungry to push a little further this year. Since the new year is time when people focus on setting goals and making changes, we can do the same in regard to our financial goals.