In “Key End-of-Year Money Talks You’ll Be So Glad You Had,” LearnVest offers advice that can be used all year around. Any talk you have at the end of the year, you can also have at the beginning of the year. In some cases, approaching financial planning at the beginning of the year when we have a sense of optimism and a desire to set things right may be more effective than and end-of-year wrap up.
Discuss Compensation with your Employer. Much of your financial planning is affected by how much you earn. There are many ways to increase earnings and finding ways to earn more in your current line of work is one place to start.
LearnVest advises entering such a talk well prepared with documentation of your accomplishments and ideas about how your skills have aligned and can further align with company goals. It is important to demonstrate your value and not simply ask for more money.
Discuss Saving and Spending in Your Household. If you live and share expenses with others, make sure you pick a calm time for this discussion. Even if you are on your own, don’t choose a high-stress moment to review your finances. Another suggestion from LearnVest: “Begin your chat with what you see as the happy result of your saving and financial planning, and then discuss where you have room for improvement.”
Discuss Financial Goals with a Financial Advisor. After you have reviewed your finances at home and done your own assessment, you may also want to seek outside assistance. Expert advice from a Fee-Only Financial Planner can help you see how your financial habits do or do not align with your big-picture financial goals. Sometimes we simply are not away of the ways in which our actions hinder or help us reach our financial goals.