Getting your financial house in order video
The past few months have left many of us spending more time at home -- and we may have found ourselves struggling with a lot that feels out of our control.
Tackling a few financial to-dos can not only get you on better footing for whatever the future holds but may also allow you to feel more in control over your situation.
Here's a few 'to dos' worth considering to help you get your financial house a little more in order.
Build or adjust your budget.
Budgeting can help you feel more in control by helping you understand how much money you have to work with and where it's going. Adjusting your budget can help better align how you spend money with what you value.
If your debt is starting to feel overwhelming or is preventing you from making progress on other financial goals, adding it up and making a plan to pay it down can help you take back the reins and create a plan to tackle your debt.
Safeguard your plan.
Safeguarding your plan by building emergency savings or doing an insurance check-up can help increase your financial stability and protect you and your family from the uncertainty of life's curveballs.
Ensure your wishes are honored.
For many of us, the pandemic has caused us to reckon with what would happen if we became very sick and couldn't communicate our own wishes. Work with a legal professional to create or update your legal documents, and sharing them after you've done that, can ensure you maintain control—and your wishes are honored.
Take advantage of market fluctuations.
Fluctuations in the market—and pullbacks in particular—may feel stressful but often create opportunities. A financial advisor can work with you to understand your unique goals and priorities and determine if there are strategies that you would benefit from during market fluctuations.
And, finally, start a conversation.
Whether it's talking to older parents about their long-term care needs, your young kids about early money lessons, or your adult children about your own plans, having those conversations now can help you be better prepared for the future.
Not everything will apply to your situation but taking even one small step today can help ensure your financial house is in order for whatever tomorrow holds.
If you aren't sure where to start, reach out to an Edward Jones financial advisor. We can help you navigate through the financial to-dos that can feel overwhelming.
That's what we're here for.