Personal Financial Planning: Creating Real Positive Change – This Year!

Budgeting and financial planning creates powerful change in the lives of those who choose to use it. Knowing you have a strong financial foundation is empowering. It gives you the ability to achieve multiple goals for you and your family.

It is time to change the conversation about budgeting. It should be seen as a positive, valuable experience, truly helpful for achieving financial freedom and facing whatever life circumstances you might encounter.

Too many times it is only after a life-changing event that people get focused on budgeting and financial planning. Those events can be positive and anticipated, like getting married or receiving an inheritance. They can also be something not so positive. The loss of a loved one, a divorce, the loss of a job, or something of that nature can certainly highlight the need for some budgeting and planning.

Why wait? Rather than waiting for something to happen that causes the need for budgeting and financial planning, why not start now? Planning in a positive frame of mind is often much more encouraging and successful than trying to do it “after the fact” in a stressful situation.

Creating a budget basically starts with math. Knowing income and expenses is where it begins. That initiates making decisions about financial goals so that budgeting and planning can be done in the right context. Goals range everywhere from paying off debt to saving, investing, paying for college for the kids, or purchasing a second home.

The number of factors to consider when making a budget and financial plan is significant. The planning process doesn’t have to hurt, but it does require some learning, discipline and commitment. The results are worth it.

It is wise to get professional advice to be sure a thorough job is being done – and that the plan is used. The plan must be yours. You must “own” it, or the chances of it being followed and applied reduce significantly. The goals have to be your goals or the discipline to accomplish them will not last.

Price CPAs works with many clients on budgeting and planning. It is important to understand that our role is to work with clients on clarifying the math and current circumstances and then working on your plan with you. It is not our plan for you. The decisions that are part of the final plan for you and your family are 100% yours.

If you do not have budget and plan in place, or if your current plan might need to be updated, contact us through our website (www.pricecpas.com) or call us today at 615-385-0686 to schedule a meeting. We look forward to exploring with you how our expertise in this key area can be of value to you.

Stephanie McGuire, CPA/ABV, CFE, CAMS, MS

Price CPAs