lETS MAKE FINANCE LESS OVERWHELMING
Finance can be overwhelming because there are so many moving parts. There are money coaches, personal financial experts, tax advisors, accountants, financial advisors, and CFP’s. How do you keep up with what everyone does? On several occasions, I have been confused for many of those titles, but we’re all different.
The goal is to make sure you understand whom you’re talking with and the role they’re playing in your financial life. It can also be overwhelming because most people aren’t sure where to start. Should I invest first, pay down my debt, or throw caution to the wind? To avoid feeling so overwhelmed you should take a quick breath and do the following:
Write down your “why”?
Your “why” is your personal reason for creating wealth and why it is important to you. This can be buying your first home, going on that dream vacation and/or saving for your children’s dreams.
List out your financial goals, and determine which ones need to be executed first. Once you have prioritized them start taking action!
Realize your gaps.
Do you not have an emergency fund, life insurance, investment accounts, estate planning measures etc. Then do your best to fill in the holes but seek professional advice if needed.
Arthur: Dana L. Wilson, Managing Partner, Papillon Financial