Spring Clean Your Finances: A Fresh Approach to Wealth Management for Women

An organized house is a happy house. We spend countless hours and lots of hard-earned money buying the perfect bins and baskets to organize our papers, shelving systems to streamline our wardrobes, and handy clips to corral our cords. Women are great at organizing!

But what about your financial house? What kind of shape is that in?

Just as tidiness in your home makes for a peaceful, relaxing environment, order in your financial life makes for a peaceful, relaxing mindset. So what can we do to declutter your finances and streamline your investments?

As wealth management advisors for women, here are our suggestions:

1. Make a list of your assets and liabilities. List everything: salary, 401ks from old jobs, bank accounts, and CDs, as well as mortgages, car payments, and credit card debt. Make note of the locations of all of these accounts. It’s easier than we think to forget about old accounts or small debts.
2. Once you have your list, analyze your current investments. You might want to consider combining them all to streamline your strategy. It’s hard to have a solid, unified approach when things are scattered. You should also know how you are invested in the market–conservatively or aggressively?
3. April is tax season! If you get a return, consider what is the best use of this money. Should you pay down debt, pad your emergency funds, or go on a well-deserved vacation? And if you owe taxes this year, consider strategies to mitigate owing in the future, especially if you are an entrepreneur or business owner.
4. Set some specific goals for Q2 and beyond. It’s been four months since you set your New Year’s resolutions. Ask yourself, how am I doing in regard to my financial goals? If you’ve been successful, what habits and actions are working? If you’ve dropped the ball, what roadblocks are standing in your way?

And as always, consider if it’s time to meet with an experienced wealth management advisor for women. We can help simplify your financial decision-making, create an individualized financial plan for you, and listen to all of your questions and concerns with empathy and without judgment.  

Make it a priority. Let’s get your house in order!