A Values-First Approach to Financial Planning

Article Summary

• Many women avoid or delay financial planning because it may seem overwhelming or intimidating. 
• A values-based approach to financial planning can help some women feel more engaged in the planning process, especially those who find it intimidating
• Many women prefer to work with a female-vetted financial advisor to develop a financial plan, since females have a unique understanding for the challenges women face throughout their lifetime.

There are a number of reasons why women choose to avoid or delay financial planning. While women generally have to balance quite a bit, from their careers to family responsibilities and sometimes even caregiving, the main driver of their avoidance tends to boil down to a lack of confidence.

When it comes to financial planning, women often feel a heightened pressure to avoid mistakes, even though they confidently manage day-to-day budgeting and finances with ease. For many women, long-term financial planning just seems more complex and intimidating. Retirement contingency planning, for example, can feel like more of a mental lift than planning groceries for the week. 

A values-based approach to financial planning may make the whole concept seem a little more accessible, especially for women who avoid it because of a lack of confidence.

What Is Value-Based Budgeting?

Value-based budgeting is based around an individual’s priorities, which means it is an ultra-personalized approach to financial planning. It begins with encouraging individuals to ask themselves a few key questions, to build a foundation for appropriate goal setting. Those questions include: 

• What is your ideal life?
• How do you define personal success, professional success and financial success?
• What activities and experiences bring you fulfillment?

If you build a financial plan around the values you embrace, working towards your goals will feel more fulfilling. You deserve to live a life that aligns with your hopes and dreams!

As you embrace value-based budgeting as a first step to long-term financial planning, it could make it feel like unexpected expenses are easier to manage. A financial plan that includes contingencies for unexpected expenses keeps goals in focus by assessing income, expenses, debt, savings and insurance. 

Many women have found that working with a financial expert to develop a values-based plan has a positive effect on their confidence as it relates to financial planning. At Svvy® we specialize in offering a financial advisor match for women who decide they would like to build a financial plan with a female-vetted fiduciary. Many women find that working with a female-vetted financial expert offers a baseline of understanding for the unique financial challenges women encounter over the course of their lives.

If you are looking for the expertise of a financial advisor who specializes in working with women, Svvy®  will match you with an expert to meet your specific needs. The free Svvy®  match quiz, available on our website, is the first step in the process. 

If you would like to be connected with a female-vetted expert, learn more about Svvy’s matching process, or learn how you can take the next step toward a clearer financial picture, get matched with a Svvy®  expert today. 

Disclosure: This content is provided for general educational purposes only and does not constitute individualized investment, legal, or tax advice. Svvy®  acts solely as a solicitor and connects and matches individuals with independent third-party financial professionals through a quiz-based matching process on the Svvy®  Network. Matching is based on information provided through Svvy’s platform and does not constitute any advice. Any advice, recommendations, and services are provided only by the independent professional you choose to engage.