CREATING A SHORT-TERM PLAN FOR YOUR FINANCES THAT WILL IMMENSELY HELP IN THE LONG-RUN

One of the most commons conversation I am having with clients right now is ensuring in the short-term, that they have a plan in place to manage cash flow. For most, this has always been a part of the comprehensive plan we’ve created with clients. Getting your short-term finances in order allows an investor to keep money that is invested for the future focused on the long-term.

Having an emergency fund and a solid grip on your cash flow is vital for times of uncertainty. Many of our clients have heard me repeat that mantra over and over during our meetings. The reason we have always stressed the importance of these two key principles is that it ensures that we will not need to access funds set aside for our long-term goals at the worst possible time to do so.

The decisions and changes we make during times of turmoil will have a lasting impact, either positive or negative, on the success of your financial plan.

This situation continues to be changing quickly. There has been some good news – signs pointing to a potential stimulus for each family to help navigate the potential changes, many companies need help keeping stores stocked, other governmental assistance programs both for individuals and businesses affected by these quick changes. There is also quite a bit of uncertainty – how long potential social distancing measures may last, how certain industries are equipped to handle longer periods of time without traditional traffic, and how effective the social distancing measures already put in place have been.

At Aurora Financial Strategies, we know how important this can be for families. As we announced this week, for the foreseeable future, we will be waiving any fees or cost generally associated with a cash flow review or budget analysis. The reason for this is simple, if we can help people get a handle and make the correct adjustments on the short-term setbacks, it gives them the best chance to succeed in the long-run.

If you would like any additional information from me, or anyone on our team, feel free to reach out directly to billy@billycardwell.com

Billy Cardwell, CFP®

Billy Cardwell is the Owner of Aurora Financial Strategies, a financial advisory firm based out of Kokomo, IN. He can be reached via email at billy@billycardwell.com. Investment Advisory Services are offered through BCGM Wealth Management, LLC, a SEC registered investment adviser. This blog does not constitute advice. This is not an offer to buy or sell securities. Advisor is not licensed in all states.