6 Steps To Get Financially Organized


January is National Financial Wellness Month, so I met with a Wealth Advisor with Provident Financial Consultants, Brenda Rolli, to learn what you can do to get financially organized.  “The new year is a great time to sit down and really take a look at your finances,” says Brenda.  “Oftentimes, it’s the small steps we can take financially that make an impact over time.  These steps are a great starting point to learn how you’re spending your money and review your overall financial health.

  1. Create a list of your fixed expenses.
    Fixed expenses include things like your car payments, utility bills, housing payments, etc.  This list will help make sure everything is being paid in a timely manner and will put your financial priorities into perspective.
  1. Track your spending.
    Many people don’t realize how much they are spending, especially if they use a debit card. Tracking your spending for a month helps you identify where you can make adjustments to reach your financial goals.
  2. Set financial goals.
    Once you have an emergency fund of three to six months of expenses saved, you can start setting goals for the coming year.  For some that means paying off a car or student loan.  For others that means putting aside a set amount each month to save and invest.
  3. Check your credit score and Social Security statements
    Checking your credit score is especially important if you’re planning on making a big purchase in the coming year, and it’s also wise to review the report to make sure everything is accurate.  Additionally, this is a good time to check your Social Security statements to ensure that your earnings have been reported accurately.
  4. Look at your 401k plan.
    Oftentimes, people will set up their 401k plan and never make any changes.  But if you’ve received a raise, you might consider increasing your contribution.  It’s also a good time to look at your current investments and options to see if you should make any changes or rebalance funds to fit your risk tolerance and goals.
  5. Meet with a financial advisor.
    If you have your savings built up and have paid off your high interest debts, meeting with an advisor is a great way to start creating a roadmap for your financial future.

As I said earlier, sometimes it’s the small steps we consistently take that have a big impact over time on our financial health,” notes Brenda.  “As a wealth advisor, I work with clients to set realistic timelines that will help them achieve their goals.”

If you're ready to take proactive steps to create a strong, long-term financial plan, schedule a consultation with Brenda by calling 920-230-6898.