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The Significance of Organization


People often avoid developing a financial plan for the same reason they avoid doctors or opening bills that come in the mail: fear.  Ironically, the thing feared is also the solution.

A survey done by Citizens Bank Wealth management demonstrated that starting a plan early, sticking to it long-term, and regularly meeting with an advisor are all behaviors that boost confidence regarding current and future finances.

“People often underestimate the benefit of something as simple as being organized, and this survey has demonstrated that it really can transform your thinking and your commitment to following through on your plan” (read the full article here).

Organizing your financial life could be as simple as keeping a spreadsheet documenting the value of the things you own and the things you owe.  Include retirement accounts and the amount you’re contributing monthly, as well as things like vehicle loans or mortgages and the amount of your monthly payment towards each.

This  can then help develop a simple budget that shows you how much income needs to go towards fixed, regular payments or savings each month and how much is left afterwards for other bills and spending.

Whether you’re just starting out and want to get on the right track or fifteen years into an established career and want to make sure all of your bases are covered, you guessed it, a financial planner can help with organization and develop a long-term plan.

This concept ties in nicely with the 1-Page Personal Finance Snapshot we provide our clients. Certainly, there’s a lot of conversation and additional explanation that accompany this document, but our goal is to organize the key areas of one’s personal financial situation in a simple, straightforward, 1-page executive summary.

Contact us to start your plan and realize the value, confidence and peace of mind that comes from simply being organized and knowing where you stand.