4 Easy Financial Steps You Can Take in Unprecedented Times to Prepare for the Future


February 12, 2021

The COVID-19 pandemic has shed light on how important it is to plan for the future and the unexpected. Skylight Financial Group Partner and Financial Advisor, Michael Kessling, Jr. has laid out four simple steps everyone can consider, no matter what your financial situation is, to be prepared for difficult times.

#1: It is never too early to start saving

Saving might seem like a scary and daunting task, but the sooner you put aside any amount of money the better.  Here is what Mike generally recommends you should consider: if you’re not sure where to start, you may want to try 15% of your gross income.  If that’s too much right now, see how close to it you can get!

“Many people feel uncomfortable with what they have or don’t have. No matter what that difference is, it is important for people to set aside savings for the future. Everyone has to start from somewhere, and the sooner people start, the greater the impact they can have on their future.”

#2: Ask for help and reach out to a financial professional

Experienced professionals can often identify areas of financial flexibility that you did not know existed for your situation.

“Ask for help—I wouldn’t stop at asking for help. I would surround yourself with people that are more knowledgeable than you in areas that you don’t know much about. Leave it up to the professionals to help guide you in the right direction. When looking for a financial professional, don’t be afraid to speak with a couple before sticking with one. This can help with truly reaching your financial goals and coming up with the right game plan for your future. You should look forward to your meetings with your financial professional and be excited about what your collaborating on – together.”

#3: Educate yourself on basic financial principles

Setting time aside to get a basic understanding of how finances work can be a manageable way to plan for your future. 

“Often, people say they are not interested in a topic because they are embarrassed by how little they know about it. Understanding basic concepts of economics, saving, investing, and insurance can open your eyes to previously unknown financial opportunities. I do this myself by listening to one audio book or podcast a week on topics that I am not familiar with.”

#4: Take emotions out of financial decisions

As in most aspects of life, this can be much easier said than done.

“The biggest financial issue I have seen with clients during this pandemic is making decisions based on emotions. Uncertain times provide all the more reason to be very certain about what your plans are. Don’t let outside forces rattle the comfort and confidence you have in your planning process. You have to  take a step back and think of your end goal instead of your immediate reaction to what is happening around you. Often, your initial reaction can be the wrong one.”

Thanks for sharing, Mike!

Looking to take a hold of your financial future? Reach out to any of our dedicated team members today to start planning.