Sometimes we need to prioritise our priorities…

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Welcome back to the New Year! I can’t believe it is almost Australia Day already. 2014 has certainly started to fly by!

You may remember one of my previous blogs before Christmas where I suggested you book your appointment with me sooner rather than later, so that we can get your NY resolutions up and running.

I have had quite a few new clients book appointments for this reason, so it has been a great start to the year.

One thing that I have noticed however, is that some clients are hell bent on ‘sorting everything’ out, and sorting it all out NOW! It is not unusual for clients to come to me and want me to help them with several things at once. For example: plan a wedding, buy a house, decide whether or not to start a business or stay employed, and of course plan a trip overseas (likely the honeymoon).

There is nothing wrong with wanting to sort out several things that have been niggling you, but we also have to be realistic about time frames and what is financially feasible.

It is similar to your health in some ways. For example, imagine if you wanted to stop smoking and start exercising, it would be difficult to do both at the same time. You may need to concentrate on the smoking first, and once you have that under control you can start the physical exercise.

Your financial and lifestyle goals are the same. With all the ideas and things that you want to achieve running around in your mind, it might be a good idea to write them all down. Next to them write down what it might cost you, and the time frame you would like to achieve this. From here, you might figure out that first and foremost you have to budget for the wedding, and let’s look at the house purchase in 12 – 18 months. Whilst delaying a few things may not be part of your immediate plan, it will make you feel a little less anxious.  Try not to get too caught up on having to do everything straight away, because more often than not, I see that clients end up putting EVERYTHING off, rather than making progress gradually. And whatever you do, please don’t beat yourself up if your plan doesn’t quite meet your timeframe.

Your Financial Planner can help you put a plan in place, but ultimately you need to sit down with your partner and figure out what is most important to you and prioritise from there.

If you think you might be in a situation where you have a thousand things on your financial ‘to do’ list, give me a call and let’s start the process by discussing what you want to achieve and go from there.


About the Author:

Tatiana has over 10 years experience within Financial Services with the last 7 years focussed on Life Risk. Tatiana has held Senior roles with a number of organisations such as Macquarie, AMP and OnePath prior to starting Monarch Advisory Group. Tatiana holds an Advanced Diploma of Financial Services and is completing the CFP (Certified Financial Planner) through the FPA (Financial Planning Association). Tatiana is also a member of the FPA, which is the highest professional body for the Financial Planning industry. Tatiana is very approachable and passionate about ensuring her friends, family and clients are properly protected in the unfortunate event that something goes wrong.

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