Financial Life Planning
What is Financial Life Planning?
Financial Life Planning is the process of helping to formulate a financial plan to help you achieve your life goals. These life goals can be cover a number of areas from investment and retirement to leisure and travel. See our podcast below to help you unpack your goals.
We recommend a values based approach to financial life planning. This means helping you to understand your relationship and habits around money. Once we understand this, we can identify the gaps and ensure you develop the right habits to achieve your financial life plan.
Values based Financial Life Planning
Values based financial life planning looks at your upbringing and how that has impacted your attitudes and behaviours around money. Our framework helps to understand the causes of these behaviours which allows you to ensure your habits and behaviours around money are aligned to you true values. This ensures a good balance between budgeting and living life to the full
Our financial life planning process starts with asking you the right questions to help understand your underlying habits, attitudes and relationship to money that drives your behaviour.
Defining your relationship with Money
As part of the financial planning process, we invite clients to participate in a money type quiz. This helps to understand subconscious patterns and behaviours around money. Simply stated, our relationship with money shows us “where we are”. This enables us to change our behavior as we become more aware.
Financial Planning Process
The following diagram represents the financial planning process and should be viewed as a fluid approach as things change in your life.
The areas above are explored when we look at your financial planning needs and habits and attitudes towards money. Furthermore, we look at what you are trying to achieve with the Who, What, Where, When and Why this is important to you. This may be a specific financial goal you have. What is most important is alignment to what you value and the role money plays in your life (your money stories).
Taking a Holistic Approach
As we take a holistic approach to financial planning philosophy, we believe it is important to work with you, alongside your existing professional advisers (may include your accountant, estate planning specialist and mortgage broker).
This collaboration ensures we address your financial and budgeting needs and are aligned with the key financial and estate advisors you work with.
“Money Mechanics gave me a solid strategy which I have started implementing. I can’t fault that for value plus service. I consider this money well spent.”
“Money Mechanics was exceptional. Their advice was accurate and timely and the information provided was of a very high standard. They are friendly, professional and trusted, I would have no hesitation recommending them.”
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Strategic Financial Advice
Money Mechanics Financial Advisors provides strategic financial advice for individuals, businesses and families. This includes:
One-off strategic advice – this may be as simple as 1-2 meetings between you and Money Mechanics (other financial advisors included where appropriate).
Ongoing strategic advice – this entails regular reviews of your financial life goals and strategies to ensure they are focused on achieving your desired outcomes.
Our focus is always the same, to allow you to feel empowered and in control of your financial matters with minimum worry.