Getting Excited about Your Finances
Kathy Longo, CFP®, CAP®, CDFA® Thursday, 11 October 2018
You might be thinking, “who gets excited about finances??” Instead, many people dread them and hope to avoid dealing with them altogether. Therein lies the problem – when you don’t look at and deal with them, that’s when things don’t improve. However, when you decide to not avoid them, approach them head on and actually – yes – get excited about what you can accomplish, you will be amazed at the power you’ll have over your current and future financial outcome.
Getting in that headspace can be difficult for many. However, it’s possible to get passionate about your finances when putting them into the proper perspective. Here are some ways to get excited about your finances and start getting ahead:
- Break your cash flow into bite-size pieces and focus on these three components:
- mastering the day-to-day bill paying, living within your means, and understanding your income
- understanding both short- and long-term goals
- saving and investing to match those goals
- Psychology is more important than dollars and cents. Return to your money story and understand where your feelings about money come from.
- Substitute industry jargon for comfortable conversation that you understand and that doesn’t involve negative triggers.
- Identify steps that can be taken on a daily, weekly, and monthly basis to achieve your goals.
- Schedule time to review your investments and financial plan on a consistent basis. You’ll find that if you check on it regularly, you’ll avoid getting derailed and be able to make adjustments that help as time passes.
- Create a connection with a professional advisor – as much as you may know and understand about your own finances, a professional will provide a perspective and tools that you weren’t aware of previously.
- Turn to online and workplace education, get more involved by understanding the intricacies of your financial obligations now and in the future.
- Talk to trusted friends to understand how they’ve approached their personal budgets and finances. You may not always identify with what others are doing, but it could provide ideas and inspiration for how to improve your situation.
- Connect to other professional providers who can help, such as an accountant, estate attorney, and personal insurance agent. Again, the more help you can receive, the better off you’ll be.
Your finances don’t have to be thought of as all budget and restriction. With some reframing, this can be an exciting conversation. Your finances are a tool that allows you to take control of your life and achieve life goals and dreams. Learn more about how to achieve your life goals and dreams by visiting, www.kathylongo.com.
About the Author
Kathy Longo brings over 25 years of expertise and experience to Flourish Wealth Management. Kathy is wholly dedicated to improving the life of each client and finds joy in making complex matters simple and easy to understand. She excels at asking the right questions, uncovering new possibilities and implementing the most advantageous strategies for success. Playing such a pivotal role in her clients’ lives remains an honor and a privilege. After earning a degree in Financial Planning and Counseling from Purdue University, she began her career at a small firm in Palatine, Illinois where she worked directly with clients while learning to build a viable, client-centric business. Over the years, she gained extensive knowledge and wisdom working as a wealth manager, financial planner, firm manager and business owner at notable, various sized companies in both Chicago and Minneapolis.