Myths about Financial Planning – by Lynn Whetham



Four Myths About Financial Planning That May Be Blocking Your Success
The truth is a cash flow strategy is one of the most liberating habits. Knowing what you can afford gives you onfidence and it’s really exciting when 

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.
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2. Net Worth Statements are for people with millions of dollars.
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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.
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3. I need to have a lot of money to work with a financial planner.
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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!
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4. I don’t need a financial plan because I don’t make enough money.
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The truth is you’d better have a plan. You need a plan that employs the best financial planning strategies possible.
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Make it a priority to enlist the help of a financial planner and make your financial goals a reality. You owe it to yourself. I’d be happy to help you get started. You can reach me at lynn@mindfulmoneymanagement.ca or 519-654-8342.

 

 


About author

This article was written by Lynn Whetham

Lynn Whetham is a Certified Financial Planner with Assante Wealth Management and Assante Estate & Insurance Services Inc. Lynn believes in community involvement and enjoys sharing others' inspiring stories through her podcast Mindful Money Management. The podcast is dedicated to empowering socially conscious individuals to manage their financial resources for the benefit of themselves, their families, and the greater community.

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