Alongside the impact of high interest and mortgage rates comes a new concern that could hit your wallet: war in the Middle East. How long it’ll go on and how it will influence everything from oil prices to the stock market remains to be seen — and this is bound to sow panic.
This type of situation is exactly why Tony Steuer, who pioneered the Get Ready Movement to help people plan their finances for the unpredictable, now brings us The Get Ready! Blueprint, with a set of guidelines to help everyone stay in control of their money — all of the time.
He explains that preparation for chaos must be built into everyone’s approach to money, and is embedded in a series of habits that includes:
- Don’t panic. Make a solid plan and stay focused on it. If you haven’t done so yet, it’s never too late to start.
- Look at your financial picture as a whole instead of zooming in on one aspect, especially in times of chaos. For example: do you have high-interest credit card balances? Can paying these down offset the impact of market fluctuations?
- Know your goals and the values that underlie them. When chaos hits, ask: does this change my goals or values? If not, sit tight, wait it out and focus on the things you can control.
- Make choices only after learning about all of the options and the fine print of each one. This is the basis for a solid financial plan that will serve you well in good times and bad times. If you understand the options rather than just signing on the dotted line, you’ll understand how, exactly, chaos can impact (or not) your choices.
- Once you’ve made a choice, stick with it over time, making dates with yourself to re-assess and re-visit each one if needed.
- Be consistent throughout the year about reviewing the elements of your financial life and making changes and updates wherever needed. Tony recommends taking one small step a week, every week of the year. This process is mapped out in The Get Ready! Blueprint.
Chaos will always happen. The key is to get, and stay, in control of your own financial life and keep your cool, knowing that you’ve laid the groundwork for stability over time.
Tony Steuer, CLU, LA, CPFFE is an internationally recognized financial preparedness advocate, podcaster, and award winning author. His newest book, The Get Ready! Blueprint: A 52-Week Guide to Changing the Way You Think About Money, presents The Get Ready Method, which he created to empower people to take control of their money while providing a framework for integrating financial products, financial advice and advisors.
The Get Ready Method provides a framework for integrating financial products, financial advice and advisors. He is also an Advisor at Paperwork and Dingo Technologies. Meanwhile, he is a member of the ThinkAdvisor’s LUMINARIES Class of 2022 as a Finalist in Thought Leadership & Education. He served as a long term member of The California Department of Insurance Curriculum Board as well.
Steuer shares his trailblazing thought leadership on financial wellness as a contributor for ForbesAdvisor, expert content reviewer for Nerdwallet, and a guest/contributor for ABC’s Seven on Your Side, Cheddar TV, New York Times, the Washington Post, Fast Company, Chicago Tribune, CNBC, and Fox Business News. His podcast, Get Ready Money Podcast, is another way to absorb his expertise.