• Chris Lennox

Nurture Your Finances



Everyone has had those moments where they take a look at their finances, and they aren’t happy with what they’re seeing. A build up of debt, less savings set aside than you were hoping for, and just plain confused on what to do next. Thinking of your finances and investments like they’re a garden that needs tending to is a great metaphor and vision for getting the upper hand on your financials.


Begin by taking a look at your bills and debts, then make monthly budgets to tend to them. Just like plants, bills and budgets need consistent monitoring to try and ensure everything is continuing to be in a healthy and optimal state. Start by making a monthly budget for things such as groceries, car payments and gas, entertainment, etc. You can break this down to weekly budgeting and daily spending limits depending on what fits your needs.


A great way to track your finances, especially with daily spending, is with budgeting apps. These apps, along with calendar apps, assist you in keeping organized records of past and future payments, deposits, or allowances. Budgeting is a great skill to develop for managing your money and avoiding being overwhelmed by those monthly numbers.


Having a clear idea of your finances puts you in a better position to begin exploring profitable and expansive financial opportunities. Knowing exactly what the best option is to protect and nourish your finances can be tricky.


Once you’ve taken a look at your finances and you know which areas need the most tending to, you can start to pay off your debts. This can be overwhelming depending on your situation— but just like your garden, you need to clear out old roots and anything that is preventing your garden from being healthy and blooming.


Start by paying off small debts first and work your way up. Paying off these small debts first will allow you to concentrate on the larger debts, such as student debt, or housing with less stress and more focus.


Student debt is common, a tip when it comes to paying it back is to reach out to NSLSC – National Student Loan Service Centre and see if there are any adjustments or payment plans available to better fit your financial situation.


A big, yet sometimes overlooked, tip for tending to your finances is to improve your job skills. Getting that promotion and pay raise you want is more achievable if you harvest and bring your best skills and efforts to the table. Just like expanding and tending to your garden it’s smart to update your job skills and explore new possibilities and opportunities that benefit you.


Being excited to harvest what you’ve grown and finally getting to use it is a rewarding feeling, but don’t stop there! One of the most crucial steps comes next, preparing the soil for future growth. Once you have your bills and debts organized, and your money starts to grow, you shouldn’t just let it sit. At Lennox Financial our goal is to take you step by step through the options that will benefit you and your future the most.


When researching the most valuable financial strategies that will work for you, it is wise to consider setting up something such as an RRSP - Registered Retirement Savings Plan, or maybe a TFSA – Tax-Free Savings Account. Investing and having some savings in the bank will bring reassurance and comfort in knowing you are prepared financially for the road ahead.


Remember to nurture your finances on a regular basis by setting routines and exploring opportunities for investments and savings plans. Lennox Financial Group is a growing team that is committed to working with you towards total wellness.

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