April is Financial Literacy Month – The Next Steps

In my last article, April is Financial Literacy Month, I discussed the first step to financial literacy which can be a difficult one…Committing to Change.

In the article I shared the website www.financialliteracymonth.com, which is a very well put together site of steps, articles and helpful tips.

If you have committed to change and signed the pledge, the second step is: Assess Your Financial Situation. 

There is a quiz designed to motivate you to start your new financial journey. I discuss this with my financial planning clients all the time. Taking a look at the way you do things currently as well as where you stand right now, is critical in the process. It’s the only way to figure out what you need to do to improve. Similar to looking at a map or GPS to determine your current location.

The third step is Clearing Out The Financial Clutter.

Anybody that knows me or has visited my office knows I’m a bit of a neat freak. Maybe I learned these habits from my time in the Navy. I really hate clutter. I hate things being out-of-place. So I’ve done a rather good job maintaining this step.

I often see with clients with financial clutter. This step is very important. You cannot assess your situation in the previous step if receipts and paperwork are everywhere. Create a filing system for statements and receipts or use an online receipt manager like Shoeboxed.

I often say that I run a financial janitorial service. I’m being serious. I think it is a real problem with most investors. Stuff is just everywhere. My most valuable service to some clients is just getting them organized!

Commit to taking these steps today. Figure our your current situation and clear out the clutter. You’ll be way ahead once you do.

If you need some help now, write me at david@lexwealth.com, or call me at (859) 225-2596.