If you’re like many Canadians―stressed about your finances―you’ve learned that you could be risking your health because of money worries. Getting a plan in place can quell those worries and help you build your confidence.
Did you know that, according to a study by the Financial Planning Standards Council, 85% of Canadians reported that they felt more positive about their well-being, and 62% reported an increase in their emotional well-being, with a financial plan in place? But that takes a little confidence.
Try these three easy steps to get you started:
- Know the lingo: Simply vow to get up five minutes earlier every day―just for one week―and Google as many financial terms as you can. If everyone in the family does this, share your learnings at dinner. If you decided that you were going to take up golf, it would behoove you to know that there are 18 holes in a game and a bogey is actually a bad thing. Knowing a few financial basics and some terminology is a great start to building strong financial self-esteem.
- Start a money group: Studies have shown that women can learn better with others, and enjoy sharing. The group doesn’t have to be complex. Simply meeting once a month to discuss all things financial is a solid step to identifying and reaching your goals.
- Work with a CERTIFIED FINANCIAL PLANNER® professional: The most important move is getting a pro on your side. Working with a CFP® professional is the quickest way to build your self-confidence and ensure it stays strong your entire life. Be sure to visit FindYourPlanner.ca to locate one in your area.
You don’t have to be one of the four in five Canadians that don’t have strong confidence they will achieve their goals. You can take charge now by taking action now. One small step at a time can turn into a life of realized financial dreams.
For more on building your confidence to take charge of your financial future, watch Women and financial self-confidence and read The financial planning process: What to expect and 4 ways to overcome financial planner anxiety.