Worrying about your financial position and future is only natural, especially when you become a Mum. Here is what I think of professional financial advice, and why you might consider getting it.
Finance has never been my strong suit. In fact, I’d previously have described my financial awareness as pretty pathetic to be honest. That was until I met my now fiance, back in 2010. You see, he’s a Financial Adviser (a very good one if you ask me) and he knows his stuff. Now, I am pretty freaking savvy when it comes to saving money and investing (he’d probably laugh at that).
For the most part (or the whole part, actually), I let him take control of our finances because, to put it frankly – he knows what he’s doing. He’s a very smart cookie with great ability to see the future, set goals, and put motions into play to achieve those goals. With the arrival of our daughter earlier this year, my appreciation for what he does for us went to a whole new level. You should consider chatting to a Financial Adviser if you:
1 – Aren’t great with money or saving. Budgeting and saving is important. Even if you are well-off, the richest people are those who budget and save. They aren’t those flaunting $300,000 cars, sporting $10,000 watches, wearing $3,000 suits with a $500 haircut (most of the time anyway).
2 – Worry about being financially comfortable in the future. Whether it’s schooling your children that you’re worried about, or having to work forever without possibility of retirement. There are things you can do right now to get you on the right track. Retirement might seem like forever away and something to worry about ‘another day’, but time’s passing (depressing much?) and the reality is that we are all going to get there one day.
3 – Don’t understand much about Super or Life Insurance etc. I don’t know squat about them, but Justin knows it like the back of his hand. It’s super (see what I did there) important to think about things like this, but how would we know if not for someone who tells us?
4 – Want to invest but don’t know what in or where to start. There’s so much more to invest in than just Property. I never ever thought I’d be one to invest in Shares of any sort but hey, look at me go (actually it was obviously all Justin but we are a team and so we did it together…).
5 – Find yourself frustrated with repeated mistakes when it comes to spending. Mistakes are going to be made, that’s a part of living. But minimising mistakes when it comes to your hard earned money is kinda appealing, right? Things which seem completely innocent (and things that everyone else is doing) like maxing out your credit cards or afterpay, slowly paying off your 5th (current) loan and yada yada… These are mistakes which can cost you a fortune over time. I remember one day Justin sat me down and calculated how much money I was going to spend on interest in my car loan if I took xx amount of months to pay it off. The figure made me feel physically ill. My hard earned money being taken by the bank just because I was too impatient to save up for a little bit longer. Needless to say, I paid the loan off within less than a quarter of the term of my loan. I didn’t even need the loan – what I needed was patience and a commitment to saving.
To be honest, there are a zillion reasons which I believe make seeing a Financial Adviser so important. Think about what’s important to you and what you want to achieve and avoid, and then you can start taking steps in the right direction. If you think you may need some help and want to check Justin (aka the best Financial Adviser/Planner known to mankind), head to his website www.chandlerprivatewealth.com.au. He has an office in Adelaide (Black Forest) and Broken Hill. Worth a chat even if just for a little peace of mind, right?
Get it, #BossMumma.