We know certain things are good for us, such as getting enough sleep, exercising regularly, and eating our vegetables. But just because something’s good for you doesn’t always make it easy to do.

Similar to our personal health, there are also ways to maintain our financial health. Creating a financial plan is something you may have on your to-do list, but you may not feel a sense of urgency to get it done. 

A financial plan is forward-focused, and there are (usually) no immediate consequences to putting it off.   

With no actual deadline to optimize your financial future, why should you prioritize your financial plan? 

Below are a few reasons to consider.

The Benefits of Prioritizing Your Financial Plan

It can be hard to admit to yourself (even more so to a financial professional) that you aren’t sure if you’re managing your finances the right way. That vulnerability creates a roadblock, which may keep you from seeking help in the first place. 

The problem is, your money and concerns surrounding it won’t go away on their own, and neglecting to manage your financial wellbeing may exacerbate existing issues.

The truth is, everyone could use some professional financial advice. Managing our money isn’t something that comes naturally, and it’s not widely taught in school. The most effective tool to grow your confidence and create a solid financial plan is working with an advisor who can help.

You may be surprised that developing a financial plan with your advisor can lead to several notable benefits.

Establishes Positive Patterns of Behavior

Your future holds so much promise, and a well-constructed plan can help make that vision happen. Think about what you want to accomplish, and start focusing on what you need to do to meet your goals.

Putting a financial plan in place can help establish a healthy behavior pattern that aligns with your long-term goals, like saving regularly, budgeting meals, avoiding impulse splurges, and more.

Reprioritizes Your Time

Have you heard of the Eisenhower Matrix? It’s a system that allows individuals to better prioritize their time by categorizing tasks into categories: 

  • Urgent or not urgent, and 
  • Important or not important. 

The purpose of the Eisenhower Matrix is to break the cycle of being “busy” while making progress towards your goals, like making work-optional, changing careers, paying for your child’s schooling, etc. 

Depending on how you categorize a task, the matrix can help determine if you should complete it now, schedule it for another time, delegate it to someone else, or delete it altogether.

While you can use this in many aspects of your life, the Eisenhower Matrix is beneficial in keeping your financial goals top-of-mind during your day-to-day decision-making.

Reduces Anxiety

Making decisions about your money can be anxiety-inducing, especially if you don’t have a plan. Neglecting to check your bank statements or avoiding a bill doesn’t make them disappear. The only way to overcome the anxiety surrounding your finances is by facing it head-on.

Addressing your concerns with a financial professional allows you to face your fears and build a plan to manage them. Perhaps the best part is that I’ve been in your shoes. Before becoming an advisor, I was knee-deep in the tech world, looking for ways to manage my financial opportunities.

I want to help you lessen your financial anxiety and create a space where your money becomes a vehicle for promise and opportunity. Together, we can look at the areas that cause you stress, like managing your equity compensation, understanding your tax liability, wondering how much longer you have to work this hard, etc. We can create a plan that makes sense for your money and your life. 

Addresses Your Roadblocks

I mentioned roadblocks earlier in regards to feeling vulnerable about your financial standings.

Like anxiety, your emotional roadblocks aren’t going to unblock themselves without some work upfront. That’s why it’s essential to understand what they are and not be afraid to address them. 

Acknowledge your hesitations or trepidation, and work with your advisor to create a plan of action for overcoming them. 

  • Does the idea of exercising your options make you feel anxious? 
  • Are you nervous about making the “right” financial decisions? 
  • Do you know what choices will be best for you both today and in the long run?

Addressing your roadblocks now can keep them from hindering your long-term financial goals.

How to Create Your Financial Plan

I work with professionals in the tech industry whose finances may be becoming more complicated than they can manage alone. If this sounds like you, we can do things together to develop and stick to a financial plan.

First, we’ll set long-term goals based on what you envision your future looking like. Once we determine these goals, we’ll create milestones markers and discuss the habits needed to meet them. By breaking the process down into manageable pieces, your financial plan becomes a source of freedom, confidence, and clarity surrounding your money.

Next, we’ll set deadlines together—and you can set some on your own too. Create a financial schedule that’s reasonable and consistent. Set reminders to reevaluate your savings strategy regularly, review your estate plan, update beneficiaries, and more. By breaking your financial to-do list into small, recurring tasks, I hope to help reduce the anxiety often caused by neglecting financial obligations.

Working With Brightview Financial

Achieving your goals is much more feasible with a trusted professional by your side. If you’re ready to work together on building a financial plan, feel free to reach out today. I’m happy to answer your questions and determine if we’re a good fit for working together.

After a successful career in high-tech, Sheila McGinn, CFP® followed her passion and became a fee-only Financial Planner, where she helps clients navigate complex financial decisions and reach their financial goals.

Disclaimer: This content is provided for general information and illustration purposes only. Nothing contained in the material constitutes tax advice, a recommendation for purchase or sale of any security, or investment advisory services. For advice specific to your situation, consult a financial planner, accountant, and/or legal counsel. Reproduction of this material is prohibited without written permission from Brightview Financial Solutions, LLC, and all rights are reserved.