Having a plan and monitoring it annually is critical to success. But how do you get there? There are many tools to help you and it is important to understand what your options are and what works best for you. This week, I’d like to discuss the importance of reviewing your Personal Financial Website regularly where we have assisted you in aggregating your financial life into one place so you may monitor both your long term goals as well as your daily activities that allow you to accomplish what’s most important to you.

Are you telling me I have to budget?

To many, the word budget, is unwelcomed in their vocabulary. Either because you don’t actually need to budget due to your income levels or because you don’t want to have to say no to things that interest you. So I am not saying, you must create a budget, however if you want to successfully accomplish your life’s goals, you do have to have a clear picture of what you want to accomplish and have a plan to get there. People who have a plan are far more likely to achieve their goals than those that do not have one.

Once goals are set, you need to know how you are doing in reaching those goals. One way to help you reach your goals is monitoring the cash flow piece of the puzzle. By monitoring your goals, you will know if you are on track to reach them or if you need to address something with in your plan to get you back on the path.

Leverage your Personal Financial Website to monitor your own goals and spending

There are many ways to monitor your cash flow. From keeping a notebook and jotting down your inflows and outflows to a more technological approach of tracking with a spreadsheet to software programs that allow you to link accounts and they track for you. Since we feel having one place to monitor your full financial picture is key to success, we offer a Personal Financial Website to all of our clients.

Within this portal, we are able to share with you not only your investment portfolio, but so much more. You are able to aggregate all of your other financial assets and liabilities, monitor your goals and also track spending. You are even able to share information with us in a secure manner or simply keep it within your Vault for your own viewing from any of your devices.

We encourage our clients to use this tool that we provide to everyone we work with as it will decrease the time you spend manually tracking your cash flow if you are currently doing so or begin tracking if you are not yet doing so. It also helps us, as your guide, ensure we are planning appropriately for your ongoing spending needs. Whether you are already using the site regularly or if you are still trying to figure it out, here is a short video that illustrates how this personal portal can be a valuable asset in monitoring your financial health and wellbeing.

We are here for you

We continue to enjoy hearing what you are up to weekly as we round out this 10th week for us here at Undivided working from home. Thank you for sharing your “quarantine stories” as well as concerns. While from a cash flow standpoint, we have heard from many of you that you have saved quite a bit in the past couple of months, however long-term, we all still plan to take our much desired vacations, send our kids to college, watch them get married and of course live a long fruitful life within retirement. So while the short term may be out of the norm, at some point life will return to “normal”, even if it looks a little different so taking the time to plan ahead and monitor regularly is just as important today as it was before the pandemic, perhaps even more so.

Stay happy, healthy and positive!