Having worked almost two decades in the financial services industry, I have seen how overwhelming and confusing personal finance can be for most people. I chose this career path a long time ago because teaching about finance makes me light up—but I know most people dread all conversations about money. Luckily, there are just two pieces of financial advice that I can give that will put you miles ahead of the average person, so you can make the most of your hard-earned money.
Have Visibility
The first most important thing you can do to have a healthier relationship with your finances is to make sure you always have perspective on your financial resources, whether that be your investments, debts, cash flow, income, etc. This doesn’t mean you should have your bank account balance memorized or anxiously check your portfolio every hour. You shouldn’t have to constantly worry about the natura (the ebbs and flows of the market or small changes in your financial position).
Having all your financial resources easily accessible will make it easier to periodically review your financial positions to make sure you are on track to reach your goals. Having access to this information can give you insight on how much wealth you have built up and help you make important decisions.
Maybe you are looking into buying another property; if you have a good idea of your overall financial standing, you can make a more informed choice about how much money you have to put down on the property. Maybe you believe you have spent too much and you should save more money, but in reality, you could be comfortably on track to retire. Having that knowledge could give you the confidence to take that month-long vacation or purchase the vacation home you’ve been eyeing.
Regularly making sure you have an up-to-date bird’s-eye view about what you have and what you owe will give you a tremendous amount of freedom to make better choices that improve your quality of life now and far into the future.
Drown Out the Noise
We are bombarded with so much stimuli every day, from talking heads on TV to the constant dinging of our phones. Whether it’s business news or a family member who thinks they know everything about the stock market, information overload can be exhausting and make you doubt your actions and decisions. When you have a well-thought-out personalized plan, it’s easier to block out the noise and stay on track.
If you are looking to build a financial plan that can give you the confidence to turn off your phone’s alerts or the office TV stuck on CNBC, we at Anderson Financial Strategies are here to help. We are dedicated to helping you organize and focus your financial life so you can free up your time and mind for the things you care about most. If you would like to explore our services for your family or business, please call us at 855-237-4545 to schedule an executive briefing to discuss your goals.
About Shon
Shon Anderson is president and chief wealth strategist at Anderson Financial Strategies, LLC with over 15 years of experience. As a fiduciary, Shon’s mission is to provide his clients with quality financial expertise along with rapidly responsive service through an honest relationship. He specializes in providing family office-style services to help his clients organize and focus their financial life. Shon graduated from Wright State University with a bachelor’s degree in financial services and an MBA in finance. He is a CERTIFIED FINANCIAL PLANNER™ practitioner and holds the Chartered Financial Analyst® (CFA®) certification. His insights have been quoted in leading financial news publications such as CNBC, Yahoo Finance, Fox Business, Consumer Reports, Forbes, Bankrate.com, Investment News, and Kiplinger. Shon serves as an adjunct professor teaching personal finance courses at Wright State University, leads CFP® exam review courses for Keir Educational Resources, and is president of the CFA Society Dayton. Shon and his wife, Jessica, reside in Sugarcreek Township, Ohio, and are blessed with triplet daughters, Elizabeth, Bridgette, and Alexandra, along with their son, Jacob, and dog, Jack. Over the years, Shon has been involved in several volunteer organizations including the Wright State chapter of Delta Tau Delta as an alumni advisor and was a Big Brother in the Big Brothers/Big Sisters program. To learn more about Shon, connect with him on LinkedIn.