This is a sponsored conversation written by me on behalf of Axiom Bank. All opinions are mine alone.
Since our big move last Summer, my husband and I have been really focusing on our financial planning and making sure we are living comfortable while still contributing to our future savings. With three children and one on the way, finanacially planning for the future is a huge priority for us.
Neither one of us have a background in banking or financial planning, so a convenient, easy to follow plan is key for us. Simple is how we like it over here! (As if 4 kids and a dog make anything simple.)
October is National Financial Planning Month, and there’s no better time to evaluate whether
you’re setting yourself up for long-term success. While budgeting helps you meet short-term
needs and goals, financial planning is more about thinking years in advance.
The good news is, you can take several simple steps to get on track today:
Envision the future. Where do you want to be in 5, 10 or 15 years? Do you hope to
purchase a first or larger home, take more vacations or put money away for children’s
college years? What type of lifestyle do you hope to have in your retirement years?
Write down your values with your loved ones, then meet with a trusted financial advisor
to attach monetary milestones to your goals.
Bring it all together. When you’re making long-term plans, make sure you’re factoring in
all your financial data. Look for a mobile banking app that brings together all your
accounts. With the Axiom Bank’s AxiomGO app integrated budgeting tool, My $
Manager, you can aggregate checking, savings, loans, 401ks, IRAs and other income
streams as well as your debt in one place, without having to sign in to multiple apps or
use a complicated spreadsheet.
Make choices that support your goals. Once you’ve charted out your financial goals,
you need a structure that helps you start and sustain smart daily habits that will drive
you toward your goals. The My $ Manager budgeting tool in the AxiomGO app allows
you to input your savings targets and keep track of progress.
Sacrifice today, enjoy tomorrow. Along the same lines, your spending habits may have
more sway on your long-term finances than you think. My $ Manager allows you to cap
spending in certain categories. It automatically pulls your debit card transactions into
the relevant buckets. For instance, an evening at the movies comes out of your
entertainment budget. It’s an easy way to analyze your patterns and stay on target.
By following those easy steps, my husband and I are able to not only save money now, but plan a comfortable future for our growing family. Although sacrificing today to enjoy tomorrow was one of the harder of the steps, it was really eye opening for us to just how much money we were spending on all of the “extras.” We have a better understanding now of money management and what that really means for the long run.
When it comes to long-term financial planning, rest assured that there are tools to make the
task easier. Envisioning your future with confidence is just a few smartphone taps away.