Joe Patterson, CFP®, Financial Planner and Shareholder at Foster & Motley, Inc., shares practical strategies to reduce financial stress and gain confidence in personal finance management. This conversation highlights actionable steps to organize your finances, set priorities, and mitigate risks.
Key Takeaways:
(02:03) A financial inventory starts with listing income and fixed and variable expenses.
(05:02) Budgeting apps simplify tracking and updates.
(06:23) Regular updates to your financial inventory provide clarity over time.
(08:13) Simplifying financial accounts can reduce stress and improve tracking.
(12:19) Preparing for risks, such as job loss or economic downturns, is essential.
(14:07) Insurance safeguards against unexpected life events.
(15:11) Focus on paying down high-interest debt for long-term financial health.
(18:21) Annual financial reviews create a habit and ensure progress toward goals.
Resources Mentioned:
Foster & Motley, Inc. | Website -
https://www.fosterandmotley.com
Budgeting Apps:
Connect With Joe Patterson:
info@fosterandmotley.com
+1 513-561-6640
LinkedIn: Joe Patterson
- https://www.linkedin.com/in/josephapatterson/
LinkedIn: Foster & Motley, Inc.
- https://www.linkedin.com/company/fosterandmotley/
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