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6 reasons why you need a financial plan

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A financial plan can help you get clarity on goals, stay accountable to taking the right actions, and leave you feeling happier about money.

Having a financial plan helps you:

1. Gain clarity on your goals.

A plan can help you better understand what you actually want to use your money for, help you achieve the lifestyle you want, and prioritize your goals.

2. Remain accountable.

A huge benefit of a financial plan put together by a trusted advisor, as Jean Chatzky and Michael F. Roizen, MD note,3 is the fact that you don't just get a clear list of to-dos. You get someone to hold you accountable to actually getting them done and helping you follow your financial plan.

3. Stay in tune with your financial reality.

When you actually know the numbers in your financial life, you're no longer relying on guesswork or simply hoping that it will somehow all work out. If you understand precisely where you stand, you can make informed decisions and smarter choices about how to move forward.

4. Worry less about money.

A plan puts the power in your hands by showing you exactly what you need to do with your finances. Taking control often means gaining more peace of mind, knowing that you have a step-by-step process to follow to reach financial success.

5. Feel happier.

That's what Farnoosh Torabi (author of When She Makes More, host of CNBC's "Follow the Leader," and creator of the award-winning podcast "So Money") found when she talked with the American College of Financial Services.4 A financial plan can give you confidence and a positive outlook because it eliminates uncertainty and confusion around finances.

6. Organize your finances. 

With a plan, you can worry less about things slipping through the cracks or missing opportunities simply because you're disorganized. A financial plan isn't a standalone document: it's got the backing of a financial professional who can make good recommendations, provide guidance, and give advice. Working with a professional means seeing more angles of the situation — including aspects of your finances that you may not have thought of before.

Ready to get your financial plan in place? Call us at 1-888-SYNOVUS (1-888-796-6887).

Important Disclosure Information

This content is general in nature and does not constitute legal, tax, accounting, financial or investment advice. You are encouraged to consult with competent legal, tax, accounting, financial or investment professionals based on your specific circumstances. We do not make any warranties as to accuracy or completeness of this information, do not endorse any third-party companies, products, or services described here, and take no liability for your use of this information.

  1. CNN Money, "Nearly 3 in 5 Americans are making this huge financial mistake," Maurie Backman, http://money.cnn.com/2016/10/24/pf/financial-mistake-budget/index.html, April 20, 2018. Back
  2. CNBC Make It, "Here's how many Americans have nothing at all saved for retirement," Ester Bloom, https://www.cnbc.com/2017/06/13/heres-how-many-americans-have-nothing-at-all-saved-for-retirement.html, April 22, 2018. Back
  3. Oprah.com, "5 Questions to Ask Before You Trust Someone with Your Money," Jean Chatzky and Michael F. Roizen, http://www.oprah.com/money/jean-chatzky-michael-f-roizen-questions-to-ask-financial-advisor#ixzz5DSDvCQaJ, April 22, 2018. Back
  4. Oprah.com, "Questions You Need to Ask Before Hiring a Financial Advisor," Farnoosh Torabi, http://www.oprah.com/money/farnoosh-torabi-when-and-how-to-hire-financial-advisor/all#ixzz5DSELMutq, April 22, 2018. Back