Staying in Control: Daily to Long-term Financial Management

A big thank you to Shannon Tefft-Janes, Daily Money Manager from Independence Navigator, and Will Boughton, Trust Officer and Wealth Advisor from VeraBank Georgetown, for their insightful presentation at the “Staying in Control Daily to Long-Term Financial Management” seminar.

This seminar provided a wealth of information on how to gain control of your finances, and I’m excited to share some key takeaways that can be implemented daily to build a secure financial future.

Daily Habits for Financial Control:

  • Track Your Spending: Awareness is key! Track your income and expenses. There are many budgeting apps and tools available, or you can keep it simple with a notebook.
  • Review Your Budget Regularly: Don’t set it and forget it! Regularly reviewing your budget helps you adapt to changing circumstances and identify areas where you can save.
  • Mindful Spending: Before making a purchase, consider if it aligns with your financial goals and if there are more affordable alternatives.

Building Long-Term Wealth:

  • Reviewing Your Current Situation: This includes making an inventory of your assets (savings, investments, property) and liabilities (debts, loans).
  • Exploring Investment Options: Consider your risk tolerance and time horizon when making investment decisions. Will emphasized the value of seeking professional advice to create a personalized investment plan.
  • Estate Planning: Having a will and power of attorney in place ensures your wishes are carried out and protects your loved ones.

This is just a starting point, and the specific strategies you employ will depend on your unique financial situation and goals. Financial professionals can be your partner in keeping your finances on track. From managing your everyday spending to crafting a long-term financial plan, they can provide the guidance you need to feel secure and in control of your money.