Your Financial Resolutions for 2015?

It’s cliche to initiate conversations about fresh starts this time of year. I’m going to do it anyway, but with a twist. Before I ask you to share what you’re going to do different, I think it’s only fair I discuss what I’m going to do different.

First, I’m not going to check emails and voicemails after I leave the office at the end of each day. I think I have a bit of OCD wiring where I feel compelled to return voicemails and emails as fast as they come in. While I won’t abandon responding in a timely manner, I’m going to try my best to use my evenings for family.

Second, I’m going to stop assuming clients are freaking out about a financial challenge. This happened to me 3 times since I started my own company. Something that I assumed was going to be a point of contention with clients wasn’t actually a big deal to them. I will commit to not getting hung up on stuff that clients have already committed to overcoming.

Last, I’m going to focus my company recruiting efforts better. In the past I’ve brought on advisors and staff that had different philosophies and approaches to portfolio design, the financial planning process, or general work flow. I found that advisors and staff who don’t operate like me or believe what I believe can be challenging. This robs everyone of time we could have been using on other tasks. I’m committing to changing my inability to say “no” to folks who want to join Aspen Leaf Partners. Not everyone is a good fit, and I know exactly what I’m looking for now.

Ok, your turn! I’ve shared how I’m going to make my business life better. Now you share how you’re going to make your financial life better. Here are some ideas to help get you started:

1. Inventory all your investment and bank accounts so you have idea of where every dollar is. What you’ll find is you probably have more money than you thought. Most times (I SAID MOST), you’ll feel better about your financial situation as well as more organized! You could create a free account at Mint.com. Mint allows you to create a budget (uggggg hate those…), set up alerts so you don’t overspend, and track your bank / investment accounts. Thumbs up on this service!

2. Get clarity on your goals and values. Our goals are the tangibles like “I want to buy a boat next year”. Values are more of the “why” behind the goal. For example, “It’s important to me to have a boat because it will make my neighbors jealous while bolstering my ego”. Obviously having fun with this, but you get the idea. Once your goals and values are clear, financial decisions are easy! I can help with all parts of this, so call me if you get stuck.

3. Execute on the financial tasks you’ve been putting off. Do you need to change your 401K investment selections, save more, or restructure an insurance policy? What’s been the holdup? Do you need confirmation from someone else? Do you need a reminder? Our reasons for not doing things we know we should are usually addressed and overcome with much less pain than we thought. Relating this to finance; having a financial plan is a start, actually doing the stuff you need to do is what makes the difference.

Whatever you decide is important to work on in 2015 is commendable. Pat yourself on the back! However, if you share your intentions with someone it becomes very powerful! So here’s where I’ll call you out. Decide on what you’re going to change and share it with someone! It could be a friend (meh, ok), a spouse (really good), a colleague (nah, too easy to let yourself off the hook), or me (I’d love to hear from you). So now that you have some framework, what are your financial resolutions for 2015?

Thanks for reading. Have a prosperous and healthy New Year!

– Greg