Personal Financial Wellness

Business financial consulting

The “I” in Team series would like to give a special shoutout and thank you to Adam Stock, CFP® M.S. PFP, whose advisement on this blog was extremely beneficial. If you need help with personal finances, reach out to him and his company, The Next Level Planning Group.

Hi, team! It’s your friend, Mary, with the “I” in Team series where you can find, be, and build your positive influence. I am a little embarrassed to say that I have not always been the best with my personal finances. Learning how to be financially smart so I can have a secure future has been a lot, but it’s also been rewarding.

I considered how my personal finances affected my influence when I started to feel anxious about money. When I feel anxious, I am not my best self. I think irrationally, feel rushed, and have this weight on me that changes the way I view the world. So, I decided to make a change! I decided to start managing my personal finances so I can secure a successful future, and I want to share what I have learned with you.

Spend S.M.A.R.T.

Managing personal finances, especially with the goal of having a secure and successful future, is nearly impossible if you do not set S.M.A.R.T. goals for yourself. You should set both short-term and long-term financial goals by clearly specifying your financial objectives. Perhaps you want to buy a home, start a family, or save for a comfortable retirement. Then, you must make your goal measurable: How much do you want to save per week/month? Consider if your goal is attainable: How much money do you make a month and how much can you put away? Don’t set an unattainable and unrealistic goal by setting the bar too high. Be realistic about what you can afford right now, even if it’s just a little bit of your earnings, and start putting that money away. There is no better time than the present.

You will also want to ~literally~ spend smart. One way to do this is to create a realistic budget (or spending plan) and stick to it. For example, a popular method is the 50/30/20 plan: 50% for needs, 30% for wants, 20% for debt payoff, savings, and retirement. Start by considering how much you pay in rent, groceries, subscriptions, and anything you must spend money on during the month. Be sure to create a line item for fun (things you want)! But not too much fun. Avoid impulse purchases that you don’t need or that put you over your spending plan. You should be allowed to purchase fun or gift items but remember your overall goal and stay within your budget to successfully manage your personal finances.

Save Save Save!

If you’re here, it’s unlikely that you already have the finances required to reach your goal. The whole purpose of this blog is to help you understand how to reach your personal financial goals, and that will require you to save money! You should have at least two savings funds. The first is an emergency fund should anything happen to you or your job. An emergency fund should have 3 – 6 months’ worth of living expenses. If you don’t have this already, perhaps this can be your first financial goal! If you already have an emergency fund you are comfortable with, move on to regular savings for your desired goal. Have your checks automatically deposited into your savings account, or you can set up your checking account to automatically transfer a portion of your check into your savings account. Sometimes goals are easier when you can automate them. Do this today and in a few months, you’ll be amazed at how much you can save!

Make Investments

We are talking about multiple types of investments here. First, invest in yourself and your wellbeing by having health insurance. Having adequate health coverage can help protect you against any unforeseen or emergency medical expenses. You can also invest in life insurance, especially if you have dependents. Provide your family with financial security in the event of your death. The other types of investments most people are familiar with. If you can, start saving money directly from your paycheck into a 401(k), IRA, or Roth IRA. Do you work for a company that matches your 401(k) contributions? That’s great! You immediately receive a 100% return on every dollar you invest. Additionally, you can diversify your investments by using an app like Robinhood; spread your investments across various asset classes (stocks, bonds, real estate, etc.) to manage your financial risk.

Bottom Line

Having personal financial wellness doesn’t need to be difficult! Just start small with S.M.A.R.T. savings and set your goals. Create a spending plan and stick to it as often as you can by living below your means. Doing this can help you save as much money as you can which will help you achieve your goals much faster! Don’t neglect your investments, especially in yourself. With a little planning and commitment, you can be financially secure.

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How to Mitigate Financial Risk Using the S.M.A.R.T. Management System

June 9, 2025

In an increasingly volatile economy, businesses cannot afford to be reactive when it comes to their finances. Whether you're a startup founder, a growing enterprise, or a seasoned business owner, the risk of financial instability is real—and growing. At IA Business Advisors, we help companies proactively navigate these risks using our comprehensive S.M.A.R.T. Management System . S.M.A.R.T. is more than just a goal-setting acronym. It is a decision-making and execution framework that brings clarity, structure, and alignment to every part of your business. From six-week action plans to one-year targets and long-term strategy, S.M.A.R.T. ensures your financial operations support healthy growth and resilience. Understanding Financial Risk in Today’s Business Climate Financial risk is multifaceted. It ranges from cash flow disruptions and market shifts to internal mismanagement and over-leveraged growth. As Brian Smith shared on a recent Daily Influence podcast episode, unchecked growth can drive a company into bankruptcy. Scaling without intention—chasing fast growth without aligning the internal team and financial resources—leads to diluted communication, quality issues, and operational chaos. Mitigating financial risk begins by understanding that more revenue doesn't always equal more stability. True sustainability comes from building systems that support intentional, well-paced growth. The S.M.A.R.T. Framework in Action: Reducing Financial Risk Our S.M.A.R.T. Management System guides businesses in creating resilient, financially stable operations through: 1. Specific: Build with Intentionality Clarity is power. One of our podcast guests, Mike Heatwole (CEO of The Dala Group), emphasized the importance of sitting down to define what matters most—whether that’s paying down debt, investing in growth, or launching a new venture. When your financial goals are specific, your strategy becomes targeted and less prone to reactive decision-making. “If we don’t know what the goal is, how do we get there?” — Mike Heatwole, CEO of The Dala Group 2. Measurable: Track What Matters Many companies are blindsided not by invisible risks, but by unmonitored ones. We help clients implement tools to track cash flow, margin fluctuations, and budget variances in real time. Visibility into your financial health gives you the power to respond early and course correct as needed. 3. Achievable: Assign Financial Stewardship Risk is reduced when financial responsibility is distributed. Through teamwide financial literacy and clear accountability, we empower organizations to make stronger daily decisions. No individual person should carry the entire burden—and no key area should go unmonitored. 4. Relevant: Make Risk Management a Habit Quarterly or biannual financial health check-ins create a sustainable rhythm. These don’t have to be complicated—they just need to be consistent. Regular reviews embed risk awareness into your company culture and decision-making process. 5. Timely: Foster Honest Dialogue Financial silence is a hidden threat. As Brian noted on the podcast, emotions like fear or shame can prevent businesses from facing financial realities. We encourage honest, blame-free communication around financial performance, creating space for solutions and collective action. Case in Point: Short-Term Action, Long-Term Impact One of our clients, a family-run distribution company, had strong revenue but was bleeding cash due to aging receivables. Together, we built a six-week S.M.A.R.T. Plan focused on accounts receivable recovery. We implemented weekly check-ins, assigned ownership, and used real-time tracking. Within 90 days, their outstanding A/R dropped by 22%, freeing up capital and restoring operational confidence. It’s Never Too Late to Get Financially Intentional Many leaders in their 40s, 50s, or 60s worry they’ve waited too long. But as Mike Heatwole wisely shared: “It’s never too late. Just get started. Do something.” Progress—not perfection—is the goal. Start small. Build momentum. Take the next best step. This mirrors a concept we love from The Gap and The Gain by Dan Sullivan: measure progress based on how far you've come, not just how far you have to go. Final Thoughts: Make Financial Stability a Strategy Mitigating financial risk isn’t about a dramatic overhaul. It’s about consistent action, visibility, and intentional decision-making. With the S.M.A.R.T. Management System, IA Business Advisors helps businesses turn risk into clarity, fear into focus, and instability into opportunity. If you’re ready to start, we’re ready to help. Let’s have a conversation about what matters most to you—and build from there.

Enhancing Interpersonal Relationships for Toxic Workplace Recovery

May 29, 2025

Hello, team! Mary here, continuing our journey through the I in Team series, where we challenge and empower you to Find , Be , and Build Your Influence. One of the most common things we’re asked to help our clients with is toxic workplace recovery. This directly connects to the culture of the team, and while rebuilding that culture takes time and intention, it is absolutely possible. In fact, with the guidance of our I in Team approach and S.M.A.R.T. Management system, we’ve successfully helped more than 19,000 teams evolve into high-performing, values-based cultures. If you’re ready to take the lead and breathe life back into your team, we’re here and ready to support you. Practice Emotional Intelligence One of the most impactful steps you can take on your toxic workplace recovery journey is to practice emotional intelligence (the ability to recognize, understand, and manage both your own emotions and the emotions of those around you). Toxic environments are often the result of emotional disconnection, poor communication, unnecessary competition, and a culture that avoids constructive feedback. Begin by shifting your perspective: respond with empathy, ask thoughtful questions, and use “I” statements. These habits model two traits, emotional regulation and empathy, that influence how your team interacts and solves problems. Start small. For example, set a personal goal to give one piece of sincere praise or recognition per day. This is a S.M.A.R.T. goal, and it starts to reinforce positive emotional exchanges. Over time, this contributes to a psychologically safe environment where people feel seen and supported. Foster Open Communication Once emotional intelligence begins to take root, toxic workplace recovery is just around the corner. Open communication becomes more natural because when team members are aware of their own and others’ emotions, communication becomes seamless. The number one rule? Listen. Really listen. Without listening, communication is incomplete. Try implementing monthly influence partnerships—team pairings that rotate so members can get to know each other beyond surface-level roles. This creates connection and, when done with consistency (Timely), fosters trust across your team. Another way to build open communication is by creating a structured feedback loop. Clarify how and when feedback should be given—perhaps during weekly one-on-ones or monthly review meetings—and make sure all team members understand the difference between criticism and constructive feedback. S.M.A.R.T. feedback is Specific and Relevant, and when delivered with respect, it encourages team members to grow without fear. Lead by Example As we say throughout the I in Team series, everyone is a leader regardless of title. Whether you’re in the C-suite or just starting your first job, how you show up directly shapes the culture of your team. To begin, set some respectful boundaries rooted in your values. Let others know what you need to succeed and what behaviors support or disrupt your work. When disagreements arise, demonstrate what respectful disagreement looks like—calm, focused on solutions, and free from personal attacks. If your workplace has leaned into competition, shift the focus to collaboration. Collaborate on micro-goals, like shared tasks or cross-functional projects. Make the results Measurable and celebrate wins together (publicly, if possible). Consider S.M.A.R.T.-based team-building events (like problem-solving challenges or goal-setting workshops) to reinforce collaboration in a meaningful way. Final Thoughts Toxic workplace recovery starts with you. Every interaction, every word, every moment of listening is a chance to model what’s possible. Show up the way you want others to show up. If your team is struggling to rebuild or you need expert guidance, reach out . We’re here to help. Let’s keep influencing responsibly and positively together.