Planting Fresh Habits this Spring
Money Management
On a daily basis, how much time do you spend managing your money?
If you’re like most of us-probably less than 2 minutes, or no time at all.1
It’s understandable.
You’re busy, distracted.
Or, maybe there’s some intentional avoidance due to feelings of overwhelm and anxiety.1
When trying to navigate retirement, budgeting, or debt management, it’s natural for analysis paralysis to flare.2
“I’ll do it next weekend,” starts to play on a loop.
Though sweeping money matters under the proverbial rug may feel like the safest option, there are better (even painless) strategies that could help you experience both short-and-long-term abundance.
It starts with a few simple steps.
And, from there, you just might watch your successes grow.
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4 Steps to Nurture Your Potential for Financial Growth
#1: Create a strong foundation.
Always assess your “soil.” If your finances aren’t rooted in solid ground, growth could be stunted from the start. And any “seeds” you try to plant (such as savings) may never sprout into the healthy and sustainable resources you want.
Check in:
- What is my monthly spend?
- Don’t forget about your “set-it-and-forget-it” items, like automated payments, subscriptions, and deposits.
- What am I investing in my retirement and savings accounts? Exact numbers and dates can help––be specific.
- What type of insurance coverage and other financial safety nets do I have (and need) right now?
#2: Remember what inspires you.
Always assess your “soil.” If your finances aren’t rooted in solid ground, growth could be stunted from the start. And any “seeds” you try to plant (such as savings) may never sprout into the healthy and sustainable resources you want.
Check in:
- What is my monthly spend?
- Don’t forget about your “set-it-and-forget-it” items, like automated payments, subscriptions, and deposits.
- What am I investing in my retirement and savings accounts? Exact numbers and dates can help––be specific.
- What type of insurance coverage and other financial safety nets do I have (and need) right now?
#3: Learn new skills.
As individuals, we are constantly evolving––as is the economy, technology, and the ways we build wealth. Boosting your financial knowledge can give you the confidence and energy to expand your perspective and try novel strategies. It’s time to continue your personal development and shake off financial fatigue by planting fresh seeds.
Check in:
- Listen to podcasts? There are endless financial options, whether you enjoy market updates, tips and trade secrets, even humor and “what NOT to do” stories.
- How about financial webinars? There are several to choose from and many of them are free.
- Ask a financial professional for recommendations for both of these!
#4: Maintain your momentum.
Your finances are like any garden––you can sow the right seeds, but without the consistent care of rain and sun, your green may wither or droop. The great news is, once you have a well-informed strategy that is planted and in place, it’s much easier to regularly tend to your goals.
Check in:
- Have I asked my advisor to arrange a monthly chat?
- Do I have a set schedule for monitoring my portfolio or financial tasks?
- What healthy financial habits can I start now to help prevent stagnancy?
Financial Lesson
Don’t Let Abundance be Out of Reach
Whether you found those steps new and surprising or they’re part of your routine, it’s clear that our financial vision may not flourish without daily care.
If we don’t pull the weeds of uncertainty and inaction, we feel less control over our wallets and our lives.3
But with the right guidance to inspire, and some decisive proactivity, it could be possible to strengthen your money roots to watch them thrive.
And you never have to wait for Spring.
Sincerely,
Jose Feliciano, CFP, ChFC, CLU
Feliciano Financial
https://felicianofinancial.
(903) 533-8585
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Tyler Office | 1828 East Southeast Loop 323, Suite 200, Tyler, TX 75701-8340 | Mon-Fri: 9:00 AM – 4:00 PM | Sat-Sun: By Appointment