This week I’m launching “Client Love”, a new series where I take you behind the scenes of what it’s like to work with me – as told by my clients.
Meet Sheena, a doctor finishing up her residency in Toronto.
Sheena is one smart lady, especially when it comes to medicine, but she wasn’t confident about managing her money.
As an M.D., Sheena knows that she’ll be able to earn a great living … eventually. She’s been in school for a long time and has the student loans to prove it.
While she’s in residency, she thought she had to put her life goals on hold and felt some anxiety about balancing her student debts with her wanderlust. I worked with her to make a financial plan that challenged those assumptions.
“I bought a property in March in this year (2016), fully due to Lisa.”
One of Sheena’s life goals was to own a home in Toronto. She saw her friends buying property in the city and wondered if she’d have to wait until after residency to make it happen for herself.
As we talked about her goals she realized this one was really important to her, and with some planning ahead it wasn’t as out of reach as she first thought. “It was pretty amazing – I bought the place and could afford it!”
“Lisa’s non-judgmental… She’ll make it work so you don’t have to give up vacation!”
Sheena’s other goals included lots of travel. She’s been all over the world, and says Botswana and Zambia are her favourite!
When creating her cash flow plan, we began by identifying her non-negotiables and allocated her spending to those things first. For Sheena, she was willing to give up daily indulgences like going to buy coffee, but not willing to give up her vacation. We made that work for her!
“The benefit of working with a financial planner is that it helps you to learn all the little tricks and tips of how to organize money.”
Like many young professionals, Sheena never really thought to financially plan. She had the basic concepts under control, like managing the money that flows through her checkings account and paying credit card bills on time. She didn’t realize there were options available to help make her money work harder for her.
We talked about various plans for financing her home and creative ideas on how to pay down her debts. The process of talking it out felt somewhat therapeutic for Sheena (and she’s not the only one!)
“I wish I had started with Lisa earlier, and wish I had gotten help earlier. I thought I needed to have money to have a financial planner… I now know things that I didn’t think were possible!”
Some financial planners – investment advisors – do require their clients to have a minimum amount of money to work with them because of how their business is structured.
Not me – I’m not an investment advisor, I’m a money coach. My goal is to help you use your money to enjoy life today, and plan for the future.
Where do you want to be in five years? How can we make your money do that for you? Let’s see what’s possible! Click here to get in touch with me.
Want to read more? Check out this blog about deciding whether to pay down debt or save your money. Or this one about the process of financial planning.