Myths about Financial Planning

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Myths about Financial Planning

Four myths about financial planning that may be blocking your success.

1. Budgets are boring and restrict my freedom.

The truth is a cash flow strategy is one of the most liberating habits. Knowing what you can afford gives you confidence and it’s really exciting when you know that it’s part of a plan to help you achieve your goals.

Find tips on how to create your budget worksheet here.

Myths about Financial Planning

2. Net Worth Statements are for people with millions of dollars.

The truth is tracking net worth has value for everyone. A net worth statement is one of the best ways to track your progress. Start today. Write down what you own and what you owe. Subtract what you owe from what you own. Compare that number a year from now and you’ll know if you have moved forward, backward or stayed the same. Then you can look for reasons why. Perhaps you see something you want to change in your habits. Start tracking your net worth today with these tips in mind.

3. I need to have a lot of money to work with a financial planner.

The truth is a financial planner can help you get started. Implementation of cash flow strategies, wealth building strategies and tax strategies can help you achieve your goals faster. Need help finding a Certified Financial Planner in your area? Check this helpful website out!

4. I don’t need a financial plan because I don’t make enough money.

The truth is you’d better have a plan. You need a plan that employs the best financial planning strategies possible.

Make it a priority to enlist the help of a financial planner and make your financial goals a reality. You owe it to yourself.

Myths about Financial Planning

I’d be happy to help you get started. You can reach me at lynn@mindfulmoneymanagement.ca or 519-654-8342. You can also send me a message with the button below Let's Talk.