Sometimes the hardest part of becoming financially well organised is getting started.  Sometimes we become paralysed by the ceiling of complexity – not knowing where to start because there are so many choices – that we end up doing nothing.

When it comes to investing, people miss out on YEARS of stock market gains because they can’t decide when is the right time to get invested.  Years later they end up kicking themselves for waiting so long and suffering through the constant debate of “is now the right time?”

When it comes to spending money, we hear stories of how people save, save, save their entire life and are too afraid to spend any money when the time comes.  The fear of losing money, or spending money on something and having it not live up to your expectations can stop us in our tracks.

Some people don’t want to take part in the financial planning process because they’ll think they are trapped by the results, or they’ll feel like they can’t spend their money.

Financial planning shouldn’t make you feel trapped.  Financial planning should make you feel empowered. Empowered to make educated decisions, take charge of your life, and move forward with confidence.

“Waiting is painful. Forgetting is painful. But not knowing which to do is the worst kind of suffering.”

This speaks to the pain brought on by indecision and not knowing where you stand.  When it comes to financial decisions, waiting (saving money) can be painful, forgetting (moving on from a mistake) can also be painful, but being in a state of “I don’t really know” is the worst.

This isn’t a suggestion to spend all your money right now and deal with the consequences later.  It’s an idea to help you understand that not knowing what state your finances are in is the worst kind of suffering.

There are some people who refuse to even look at their bank accounts.  They don’t want to know.

Plenty of times, we’ve had people come to FFP saying “I’m a mess financially”, and once they actually sit down and look at the numbers they realize “wow, this isn’t as bad as I thought”.

The emotional nightmare and constant worrying of “am I going to be okay” is much worse than looking at your bank accounts every so often.  Even if you’re in rough shape, at least you know where you stand and can work on improving.

Being financially well organised and knowing you’ll be ok – in all circumstances – often enables people to get on with enjoying their lives.

July 2020