Money and finances is something Michael is asked about a lot. Whether it’s business or personal, the @tscpodcast AMA box is always filled with questions for saving and investing. You probably already know this if you’re signed up for The HIM & HER Monthly Favorites newsletter.
Last week Katy Song was on The Show and gave us a value-packed episode with digestible advice to start financial planning today. Katy is the Chief Financial Planner at Domain Money with nearly two decades of experience helping families with children and young couples organize their finances.
In the episode, Katy shares practical tips on proactive planning and investing, taking control of your financial future, overcoming debt, and tackling other financial challenges. Katy also dives into strategies for short-term and long-term growth, weighs the pros and cons of renting vs. buying, and offers guidance on building a strong financial foundation – no matter what stage of life you’re in.
Katy also took the time to write out the top benefits of having a financial plan and how it can drastically improve your life and stress levels. With that, let’s welcome Katy to the blog.
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It’s no secret that having a plan for your money is important but most people never actually make a plan for many reasons.
- They don’t know where to start
- They don’t know how to start
- They don’t know who to ask for help
- They are afraid to make mistakes
- They’re overwhelmed
This is completely normal and if any of those things resonate with you, this post is for you.
I’m Katy Song, Certified Financial Planner, and I’m here to give you the place to start.
The Benefits of Having a Financial Plan
Frees up your time to focus on what matters most to you in life
Having a financial plan gives you more of the one resource that is finite, your time. A financial plan frees up your time by taking the guess work out of your financial decision making. You know exactly what to do and how to do it. Time is also freed up when your money starts making more for you.
Worry and stress less knowing you’re doing all the right things
With a financial plan in place, you no longer have to spend energy and time anxiously wondering if you’re spending too much, whether your money is invested in the right investments and accounts, and if you are doing what you are supposed to at your age. A financial planner at Domain Money tells you all of this with no judgment and no hidden fees. It’s a flat fee with no annual obligation. The goal is to give you the best advice and be there for you when you need it.
Gives you a step-by-step roadmap to your goals
There’s no better time to start than right now. If you have questions you want answered and are ready to make changes, you are ready for financial planning. If your goal this year is to move, change jobs, buy a home, get married, start a family, buy a car, do IVF, or plan for college tuition, having a plan in place is the easiest way to start. A financial plan looks at your current resources, cash flow and sets up a detailed set of action items for how to do anything you set your mind to.
Actually reach your goals
My clients have a proven track record of actually achieving their goals, whether it’s a lifelong dream or short-term money goal. I, along with my team of certified financial planners, help every client stress less and live better. We do things differently at Domain Money, which is why we have a satisfaction rate of nearly 10/10. We don’t manage your investments like everyone else in the industry. Investments are just a piece of your financial puzzle. Instead, we help you figure out your full financial picture. We will also tell you how to invest and manage it yourself. We help you get it all done. You can use us on an ongoing basis and whenever you want advice. It’s on-demand financial advice!
So what is a certified financial planner?
A financial planner is a financial expert to help you with your financial decision making. More importantly, a certified financial planner is a fiduciary that only makes recommendations in your best interest. The most important role of a financial planner is to help you plan for the future and equip you for having complete confidence in your own financial decision making. We are also an objective third party that can help individuals and couples gain perspective on where they are today financially and how to set goals.
When do you need one?
Time is finite, your money is not. Who doesn’t want to stress less and have more free time and money? The cost of not doing a plan is big. You are more likely to reach your goals if you write them down, have a way to measure your progress and are accountable. This is what a plan does for you. It gives you the framework and steps to take control of your money and gives you more time. Our typical client has started saving and investing but needs an expert to guide their plan to get to the next level.
How do I get a plan with you?
You can book a free, yes FREE, 30 minute strategy session to work with me and my team of certified financial planners. Head to www.domainmoney.com. We will learn about you, your life and financial situation. We have plans for every stage of life, and have completed thousands of plans for clients. We have literally seen everything. There is no judgment and no shame. As fiduciaries, our goal is to help you. Sign up for a free session and feel the financial weight lift off your shoulders.
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Be sure to listen to Katy’s full episode where she tells us the positive effects of financial literacy and education, early planning, consistent saving, managing debt effectively, renting vs buying, and financial empowerment for all life stages.
Happy listening!
x, The Skinny Confidential team.
+ Michael and Lauryn’s tips for financial freedom.
++ Check out these money saving tips for couples.
FINANCIAL PLANNING:
