Seeking clarity.

By Kathleen Hurtubise, MA, PGDipSI, CPCA, RIS , EVP Consumer & Wealth

It’s hard to believe we’re already almost a month into the New Year. And as I think about how we can best help our members and Albertans in the year to come, one word keeps coming to mind.

Clarity.

It’s the single most important difference between feeling financially secure and confident, and feeling overwhelmed.?

Without clarity—both about your current financial situation and what you’re working towards—it’s difficult to make informed financial decisions that will set you up for success.?

My dad shared a piece of wisdom with me while I was growing up that sticks with me to this day. He reminded us kids to always try to put ourselves in a position to make the best possible choice.?

When it comes to our financial wellbeing, the best position to be in is one of clarity and awareness.

It’s not easy... Talking about money is personal. Emotional.?

It’s feelings like shame, uncertainty and fear that prevent us from seeking and finding the kind of clarity we need.?

I’ve noticed that the folks who seem to struggle the most with reaching out make good money.?

They can cover their expenses each month. Maybe they’re contributing regularly to a savings account. But they’re also struggling with paying back debt, and wondering where their money is going every month. Their thoughts are full of “should.”??

I should be able to save more. I should be out of debt. I should be better at managing my money. I should. I should. I should.?

When you’re feeling the pressure of the “shoulds,” it’s easy to get overwhelmed. Add in the external factors that are beyond your control—inflation, interest rates, higher costs of living—and that overwhelm increases.?

I want you to know that you have more control than you think. And regaining control of your financial situation starts with one thing.

You guessed it. Clarity.

But how do we get there? First, think about what you want to do a year from now. Maybe you want to get out of debt. Or buy a house. Or grow your family. Once you have a finish line, it’s so much easier to figure out a roadmap to get there.?

Next, figure out where you’re starting from. What does your cashflow look like? Where is your money going? What are some things you can do to reduce your monthly costs? How can you get creative to save a bit of money here and there??

It sounds cliche, but a little DOES go a long way. And because you have a picture in your mind of what you’re building towards, all of a sudden your everyday financial decisions start feeling like they really, really matter.?

You don’t have to do it alone. Wealth management is money management. Regardless of how much is in your bank account, you deserve a conversation with someone who will help you reach your financial goals—no matter how big or small.?

Together, we can chart a clear and hopeful path forward.