Money isn’t as complicated as it seems, but when your finances are out of control, managing money does indeed seem overwhelming. To get started, here’s the first thing you should do, according to one financial planner.
Money jar image from Shutterstock
Over at Business Insider, Certified Financial Planner Holly Hanson says before getting into the nuts and bolts of personal finance, she starts by asking her clients about their priorities. Here’s why:
Once they feel more confident in starting now, the best way to get them on track, and to keep them focused, is to prioritise their goals…the part they need help with is in what order does each goal need to take place from a financially responsible standpoint.
It’s sort of like figuring out your “why”. When you have a personal, meaningful purpose for managing your money, you’re more motivated to do it. And practically speaking, you know where to start. For example, if your priority is saving for an awesome trip, you can turn that into actionable steps to get that done: pick a debt payoff method, pay off high-interest credit card debt, then start saving. It’s a simple example, but the idea is to come up with an end goal so you can draft a purposeful plan. For more advice, head to the full post at the link below.