Spring is a time to welcome in the warmer weather.  God knows we need it after such a long and cold winter.  Many people are planning projects around the home, whether it be cleaning up the front yard, refinishing the deck or planting seeds for flowers in the garden.  One thing that people tend to put off is the planting of their ‘Financial seeds.’

The best gardeners will tell you that the most important step to planting a garden is the careful planning, as well as the initial care of this garden.  Adding good compost and starting with good soil is the equivalent of building a strong foundation.  Just like the hydrangeas in your yard that need to be pruned, watered, weeded and taken care of to grow and bloom into a beautiful garden, so too you need to plan for your family’s future by planting your ‘financial seeds.’   The seeds symbolize your planning to achieve your needs, wants and wishes.  The more you are able to contribute to your financial garden the more you will be able to prosper from it.

Here are five things to do to spring into action and get moving in the right direction.

1) Track your expenses to see where your money is going.  Don’t forget to include expenses like property taxes and insurance.  Cut back on one to two things a month that you can live without.  It may be going out to dinner twice a month instead of three times.  Take that money and put it into savings.

2) Create a budget.  According to a Gallup poll taken just last year, only 32% of Americans have a detailed written or computerized account of their budget to track their income and expenses.  Create a spreadsheet in Excel or a hand written one in a budget designated only notebook.

3) Set aside time to review your life goals and monthly expenses with your partner.  This is a critical part of planning that many people neglect.  Maybe it is the first Sunday of every month.  Set a time and commit to it.

4) Retirement Savings Plan - Contribute to your retirement plan, whether it is a 401(k), 403(b) or an IRA.  The benefits can include tax deductions, tax deferred growth on earnings, and having a bigger ‘nest egg’ when you do retire.

5) The future is now.  Financial advisors and planners have access to tools to help guide you in creating a comprehensive lifestyle plan for your future.  Like a good medical doctor providing an annual checkup, a good financial advisor will do the same and help determine your ‘financial health’ and help to keep you on the path to having your money outlast your lifestyle.

Peter Sarner, CRPC® is a retirement planning professional and is the owner of Sarner Wealth Management in Essex, CT.  Peter has 20 years experience in the financial services industry.  He invites you to visit his website, www.sarnerwealthmgmt.com

Securities offered through National Securities Corporation member FINRA / SIPC. Advisory Services offered through National Asset Management Corporation.