Ashley Temer is a Financial Representative with Northwestern Mutual who helps professionals, families, and business owners plan for financial security. She’s here for your “Money Minute.”
Building a financial plan is the first step in your journey to long-term financial security. And that plan looks good on paper, but the real transformation occurs when you put your plan into action.
Step one, automate when you can from paying your bills to contributing to a retirement account. This will help you avoid late fees and the psychological sting of paying a bill.
Step two is to check in regularly, but not too often. If you stick to your plan and budget, your finances should be right on track.
Step three is to connect with your financial professional to revisit your plan and make adjustments as you accomplish goals, your life changes, or opportunities arise.
Step four is to level up regularly. Over time, increase your contributions towards goals or investment accounts. Making small increases helps instill good financial habits without much effort.
Step five is to celebrate wins! It could be big or small, like hitting a certain savings milestone or paying off your student debt. Take the time to treat yourself to something nice as you make progress towards your future goals.