How To Bring Balance Back To Your Finances
How does balance play a role in your life?
I know that life gets busy and that business can take away from our overall balance. In this piece today, I would love to share with you a few tried and true ways to maintain balance in your finances.
Be Honest About Your Budget
Sometimes it can be easy to forget about our budgets—especially now that summer is in full swing. Between camps and vacations, the summer months can be an expensive time for many families which is why now is a great time to take another look at your budget. Below are some questions for you to consider.
- What are your fixed expenses?
- How much money is allocated for “fun” spending?
- Are you saving enough each month?
- Are you sticking with the budget you set?
Creating budget check-ins is a great way to keep your finances on track. A clear understanding of your budget will also help you get creative in how you spend your money this summer. For example, instead of taking a costly family vacation you could pack up the car and take everyone to the closest National Park. It could be a wonderful adventure of hiking, swimming, and making smores at sunset. This way you are still able to take a trip and spend quality time with your family without going over budget.
Your budget will help you stay aligned with your financial goals and help bring balance to your financial life. Balance and budget go hand in hand. When your budget is on track and you stick with it, you will feel more confident and secure in your finances.
Remember Your Financial Goals
When we get off balance, it can be tough to decipher why that happens. Quite often when we feel unsettled or uneasy, it is important to go back to the source, the root of the feeling. If you are seeking balance in your financial life, another step is to go back to your financial goals.
Your financial goals set the tone for the decisions you make about how your money is used. Everything from your budget, spending, and saving strategies can be traced back to your financial goals. How is that?
Financial goals take into account one of the most important factors in your financial life: your values. Your values drive the goals you set and influence the choices you make to reach them. Now is a great time to go back to those goals, remember why you set them, and how they will positively impact you and your financial life.
Whether your goal is to help your grandchild save for college or growing your retirement fund or even changing your investment strategy, come back to those goals and let them ground and balance you. As you examine your goals, keep these questions in mind.
- What goals did you set?
- Why are these goals important to you?
- How have you prioritized them?
- Are your values aligned with your goals and your execution of those goals?
Reach Out To Your Financial Advisor
Your financial advisor can help you bring balance to your financial life. Here at TFS, we love to talk with our clients about their goals and values and the many ways these things influence their financial lives. We know that budgets are difficult and that creating one that will really work takes a personalized touch, which is something we do for all of our clients.
Balance is an important component to success in your financial life and we would love to help you attain it. Our team can’t wait to learn more about you and your story, give us a call!