Category: Brandpoint Business & Finance

2024-04-18T09:15:00

(BPT) – Sustainability has been a buzzword in the business world for years, with many businesses looking for different ways to introduce “green” products to a market that is demanding them.

According to internal data from global business-to-business (B2B) e-commerce platform Alibaba.com, Request for Quotations (RFQs) containing terms such as “sustainable,” “eco-friendly,” “biodegradable” and “renewable” are up 23% year-over-year (YoY). Growth in these inquiries has occurred across industries, including apparel and accessories (61% increase YoY), kids’ toys (30% increase YoY) and electronic components (26% increase YoY).

The issue for many businesses, especially smaller ones, is some product markets are becoming oversaturated with sustainable products and setting yourself apart can be difficult. So how can you help your business stand out compared to competitors? It starts with expanding your sustainability efforts beyond the product itself.

Start with sourcing: Sustainable supply chains elevate sustainable products

With the crowded market for sustainable products, small-business owners can set themselves apart by making their entire sourcing operations sustainable. How many times have you placed an order that came in an unnecessary amount of extra packaging that you just ended up throwing away? Is a sustainable product really sustainable if its packaging isn’t, or if the supply chain to get it to customers creates considerable pollution? By considering these potential issues and adapting your supply chain to address them, your business can do more than create a sustainable product — it can be a sustainable business.

How can you implement sustainable practices into your supply chain? Turning to online sourcing platforms to help identify sustainable sourcing partners can do a lot of the work for you, including:

• Simplifying the process of sorting through potential suppliers: B2B e-commerce platforms such as Alibaba.com have features that allow you to add search filters to narrow down sourcing options and identify suppliers that fit the specific profile you are looking for.
• Providing ways for suppliers to verify their sustainable practices: These platforms also provide prospective suppliers with ways to verify their sustainable practices, including listing any certifications or sustainability data that can help you identify the right sourcing partner.
• Connecting small businesses and suppliers directly: B2B e-commerce platforms help you identify potential sourcing partners, and some platforms like Alibaba.com provide you with a direct channel to communicate with suppliers to find your match and begin sourcing sustainably. By connecting directly with suppliers, you can more easily ask about their materials, manufacturing processes and certifications to ensure that they fit the profile you are looking for.

How to tell people about your sustainable business

Crafting your sustainable product line and supply chains is important, but equally important in standing out amongst your competitors is effectively marketing your product and sustainability practices. While tactics might differ based on the types of products you are selling, there are a few key considerations as you go to market your products:

• Leverage the information your suppliers provide: With all the information that suppliers can provide on B2B e-commerce platforms, you have the information you need to show consumers how your product and business are sustainable. By sharing this information with your customers, you demonstrate transparency around your sourcing practices to help consumers trust that your product is truly sustainable.
• Make it digestible for the average person: When marketing the sustainability aspect of your product and business, it is important to make sure you are using clear, accessible language that can be understood by all consumers. Your sustainability messaging can only set you apart if your customers understand what it means, and making it accessible can help further build trust with your customers by increasing transparency.
• Show your customers how your product benefits them: When a customer is making a purchasing decision, their choice ultimately boils down to deciding which product benefits them the most. Make sure that you are marketing your product or business in a way that communicates how the product benefits them both personally and how their purchase means they are making a difference for the environment.

At the end of the day, differentiating your sustainable business from competitors requires you to ensure that your entire operation is sustainable, and communicating your sustainability efforts in a way that your customers can understand. While the physical delivery of sustainable products is important, giving customers the peace of mind that they are making full-circle sustainable choices to help the world is equally crucial to building and maintaining your consumer base.

2024-04-17T08:01:00

(BPT) – The homebuying process can be overwhelming, especially for first-time homebuyers. It’s important to understand the real facts about the process and the resources available to help you achieve homeownership.

2024-04-11T12:03:00

(BPT) – Thinking about moving? Consider Michigan, which offers great jobs, an even better cost of living, economic opportunity and welcoming communities. Its stunning natural landscapes and vibrant urban environments also inspire the quintessential work-life balance. Singles and young professionals looking to boost their careers, families looking to put down roots or individuals looking to find community can find it in Michigan — all with proximity to 3,000 miles of freshwater coastline.

Learn more about these top five reasons to live, work and play in Michigan.

1. Access to great jobs

Whether you’ve just embarked on your career or are a seasoned professional ready to advance in your field, Michigan offers plenty of job opportunities. The state’s cutting-edge, high-tech industries like EV/mobility, clean energy, life sciences, medical devices and engineering, design and development, are all looking to hire.

Michigan is also home to 18 Fortune 500 company headquarters, and more companies are relocating to the state. Join the state’s momentum to help fuel innovation and pave the way for a brighter tomorrow.

2. Cost of living

Affording basic living essentials has become harder in recent years. Even with a great job, it can be hard to pay all your bills and have money left over for relaxation and entertainment. In Michigan, your paycheck can go further. Unlike other tech hubs, Michigan remains one of the most affordable places to live. With a cost of living approximately 10% below the national average, you can spend more of your hard-earned cash on hobbies and experiences.

Michigan is especially attractive for those looking to buy a home, with housing costs 10% lower than the national average. Consider a cozy lakefront cottage, a downtown loft or a family-friendly suburb. Or choose two with the great cost of living.

3. Abundant natural resources

Outdoor lovers rejoice! You can enjoy outdoor adventures every season in Michigan. Four Great Lakes surround the state’s two peninsulas, offering endless opportunities for water recreation like fishing, swimming, canoeing, kayaking, paddle boarding, boating and more. No matter where you are in Michigan, you’re never farther than 6 miles from a lake, river or stream.

When you need a break from beach life, Michigan offers pristine skiing, snowmobiling, climbing, biking, hunting, camping and hiking terrains. Quench your thirst for wine from the vineyards in Traverse City and take in awe-inspiring views — like the Northern Lights — in Michigan’s Upper Peninsula.

No matter what kind of outdoor recreation you prefer, Michigan’s abundant natural resources have a little something for everyone year-round.

4. Vibrant nightlife

Nightlife entertainment abounds in Michigan! At night, the party is just getting started in Ann Arbor, Grand Rapids, Lansing and Detroit.

Music lovers, from Motown fans to EDM devotees, can find a concert or festival across the state. Catch the dancing bug? Many Michigan downtowns offer live music and dance clubs playing electronica, 90s hip-hop beats and soul-stirring jazz melodies.

Foodies will have a veritable feast of choices. Gourmands can whet their appetites with Michigan classics like Detroit-style pizza, coney dogs, Mackinac Island fudge, pasties, breakfast cereal, tart cherries and crisp apples. Plus, many cities offer craft breweries and distilleries where you can talk with friends late into the night while enjoying delightful, innovative drinks. Grand Rapids, Michigan (AKA “Beer City USA”), is known as the craft beverage capital of the U.S.

5. Welcoming communities

Inclusivity isn’t just a buzzword in Michigan. The state’s leaders have enacted laws to protect the state’s most vulnerable communities. In Michigan, you can belong, no matter who you are or where you come from.

The state is home to people from all walks of life, especially in cities like Grand Rapids and Detroit. Michigan welcomes people from all backgrounds, races, ethnicities, genders and sexual orientations. The state also celebrates its local Indigenous tribes and embraces growing immigrant communities.

Want to learn more about Michigan? Visit TheMichiganLife.org. There, you can find job opportunities and see how affordable it is to live in this beautiful state of opportunity.

2024-04-10T10:33:00

(BPT) – By Holly O’Neill, President, Retail Banking

Social media has become a hub of personal finance advice, giving rise to countless trends from soft saving to loud budgeting to cash stuffing. On TikTok alone, #FinTok has amassed over 4.9 billion views. If the abundance of content is any indication of people’s curiosity around personal finance content, it’s clear consumers are eager to build healthier financial habits.

The sheer amount of content can make filtering through the noise a challenging task. This spring, welcome the beginning of a new season and take part in America Saves Week (April 8-12) by reviewing a few tried-and-true savings tips that will make you more financially savvy. Here are a few to get you started:

1. Build a budget.

Budgeting is a life skill that puts you in control of your finances. If you’ve fallen behind in some financial areas or you’re just not sure where to start, creating or reassessing your budget will never steer you wrong. A realistic budget that changes and grows as you do will help you plan, save and achieve your financial goals.

The first step is to get a handle on reviewing your monthly spending and determining where you’re overspending and ‘undersaving.’ After you get a better understanding of your cash flow, start and set a budget using the 50/30/20 rule. Begin by taking 50% of your after-tax income to cover needs, like rent and utilities; 30% to wants, like those new sneakers you’ve been eyeing; and 20% to be put into savings. If this method doesn’t fit your financial lifestyle, adjust your percentages to fit your current priorities.

2. Save toward a goal.

Saving without a purpose can feel overwhelming. Whether you want to put your kids through college, purchase a home that you can grow into, save up for retirement or check a destination off your travel bucket list — the best way to achieve any of your financial goals is by understanding your why.

Set specific savings goals with a plan for how to meet them. Break up long-term goals into short-term milestones to focus your efforts on more reachable targets, while bringing you closer to your overall goal. And don’t forget to reward yourself and celebrate your wins along the way!

To get started, you can take the America Saves Week pledge by identifying a savings goals and create a simple saving plan that works.

3. Automate your savings.

While saving money takes discipline and there are no “get rich quick” schemes, you can make things easier by automating your savings. After all, the key to building savings is to make it routine. By setting up automatic transfers, you can consistently grow your savings without even thinking about it.

Once you’ve identified your desired savings amount (see tip number one), ‘pay yourself first’ by automatically diverting a portion of your paycheck directly to savings. Consider digital tools like the Bank of America Keep the Change^® program — it rounds up the price of every debit card purchase to the next dollar and automatically adds that to your savings account.

4. Embrace a learning mindset.

April is Financial Capability Month, and there’s no better time than the present to refresh your financial knowledge. Break through the noise on social media and take control of your financial well-being by getting a little bit smarter every day about budgeting and saving, paying down debt, investing and more.

A strong foundation of financial literacy means you don’t have to worry about money on a day-to-day basis and that you can pursue your goals and take advantage of opportunities — all while living within your means. Bank of America’s Better Money Habits^® is a free financial education platform that provides practical, easy-to-understand knowledge about smart money habits.

Building good financial habits is a continuous process, so while you may not find your footing overnight, it’s important to celebrate small achievements along the way! Starting the spring season with a refresh and sticking to tried-and-true savings strategies will put you well on your way to financial success.

2024-04-09T08:01:00

(BPT) – By Nicola Soares, president, Kelly Education

Chronic absenteeism has become a pervasive issue across multiple employment sectors driven by several factors, including personal and family health challenges, stress and burnout. This problem is notable in the education sector, where consistent, strong educator-student relationships are crucial.

The 2023 Kelly Global Re:work Report revealed that nearly one-third (28%) of surveyed talent was ready to leave their jobs within a year, highlighting a mismatch between workforce expectations and organizational realities that may worsen absenteeism. This holds particularly true in the education sector — a field predominantly staffed by women, who often shoulder additional caregiving responsibilities for children or the elderly. Educators are increasingly taking time off to prioritize their personal responsibilities as well as their health and well-being. Such dynamics raise absenteeism risks and mark a pivotal moment for educational workforce stability.

A Heritage Foundation report illuminates the significant learning loss affecting students due to chronic teacher absenteeism, which impacts academic and nonacademic student development. This trend paints a troubling picture of the cascading effects of teacher absenteeism, highlighting the need for strategic, proactive measures to address this growing concern and safeguard the future of education.

For school administrators, it is challenging to find positive ways to address frequent absences, but adopting proactive strategies from the business sector can help mitigate absenteeism, underscoring the need for adaptability and preparedness in maintaining educational excellence amidst challenges.

Provide a culture of support

In an urgent call to combat the educator shortage, it is essential to highlight the critical role of a supportive work environment. Research across sectors underscores that employees, including teachers, are more engaged and consistently present when they feel valued by their organizations. Embracing a “whole educator” approach, akin to the holistic “whole child” perspective in education, schools should consider implementing comprehensive wellness programs, providing mental health resources and creating a more inclusive community that fosters a sense of belonging and participation in decision-making. Such measures bolster educator well-being and enhance the overall educational climate, leading to improved student outcomes.

Foster open communication

Open communication between school administrators and educators is critical in addressing the root causes of absenteeism. Encouraging educators to voice their concerns and challenges allows school leaders to identify patterns and implement targeted interventions. Regular check-ins and feedback sessions further nurture a sense of community and commitment. Moreover, adopting a supportive stance towards staff members’ personal hurdles, coupled with facilitating more compassionate and effective solutions, cultivates an environment of trust, effectively reducing stress and burnout. Such flexibility is vital, especially in today’s job market, where flex time is increasingly becoming standard. Employees should have access to both passive and proactive channels of feedback and communication.

Be prepared for absences

Even in the most positive, supportive workplaces, absences will happen. The Re:work Report underscores that resilience in businesses — and by extension, educational institutions — often hinges on the strategic employment of contingent workers to introduce much-needed flexibility.

Schools can tap into a vast pipeline of qualified substitute teachers, paraeducators, tutors and therapists by forming partnerships with specialized staffing providers such as Kelly Education. This eases the administrative strain of managing and recruiting specialized personnel and ensures the continuity of high-quality education. This approach addresses the immediate challenges posed by teacher absenteeism and contributes to a broader solution, emphasizing the urgent need for collaborative efforts between the education and private sectors to navigate the current educator shortage crisis more effectively.

Encourage continuous education and upskilling

The key to retaining and attracting talent is the investment in continuous professional development, which offers educators opportunities such as online training, collaborative projects and mentorship programs. These initiatives enhance educators’ skills and boost their job satisfaction and commitment, which is crucial in combating absenteeism and ensuring a dedicated workforce. Moreover, integrating stress management and resilience training prepares educators for how to handle professional pressures more effectively.

In an era where Artificial Intelligence (AI) is revolutionizing industries globally, lies another example of a lesson education leaders can learn from the business sector. By training educators to master AI tools, we can dramatically alleviate administrative tasks, thereby unlocking opportunities for deeper, more meaningful educational interactions. This approach does not only streamline operations but also fosters the adoption of innovative teaching techniques that significantly enhance student learning outcomes. This strategic focus on upskilling underscores the urgent need for a modernized professional development framework that aligns with the evolving demands of the education sector.

The challenge of teacher absenteeism is significant, but not insurmountable. It is paramount to recognize and value educators by creating an environment that respects their needs and addresses their challenges. Through such concerted efforts, we can build a more robust and adaptive educational workforce equipped to offer high-quality, uninterrupted learning experiences. In doing so, we not only safeguard our children’s futures, but also affirm our collective commitment to nurturing the next generation of leaders, thinkers and innovators.

Learn more about ways to make school administrators’ days easier at https://www.kellyeducation.com/youreasyday.

2024-04-04T23:01:00

(BPT) – Whether you are in the market for a new home or ready to upgrade your current residence, investing in energy-efficient home improvements could help you save money thanks to the Inflation Reduction Act.

Signed into law in August 2022, the federally funded Inflation Reduction Act includes a record $370 billion reserved spending for energy initiatives, including significant tax credits, rebates and other incentives for homeowners who replace or upgrade their HVAC systems, appliances and insulation. Combined with additional state, local and manufacturer’s programs, these energy-efficient home improvements can help you save considerably at tax time — and lower your utility bills in the long run.

When you’re ready to enhance your home’s efficiency, here’s what you need to know:

Energy-Efficient Home Improvement Credit: Beginning with products installed on Jan. 1, 2023, and extending through the end of 2032, energy tax credits have been expanded from previous programs with increased cost-saving values. They now offer homeowners a rebate up to 30% of eligible expenses up to $1,200 per year each year that the program is active. Homeowners considering an energy-efficient heat pump can save even more money with an additional rebate up to $2,000 available. Eligible upgrades include:

• Home energy audits
• Heat pump HVAC or water heaters
• Biomass stoves and boilers
• High-efficiency gas furnaces
• High-efficiency central air conditioning
• ENERGY-STAR certified doors and windows
• Insulation enhancements
• Electric panel and wiring upgrades
• Clean energy equipment installation

High-Efficiency Electric Home Rebate Program: The High-Efficiency Electric Home Rebate Act, or HEEHRA, is a 10-year program that provides homeowners with rebates up to 100% of the cost of eligible projects up to $14,000. HEEHRA rebates are based on income and can help to fund home improvements such as switching to electric appliances, installing a heat pump or updating your home’s circuit panel. The value of each rebate varies by project and includes up to $8,000 for eligible households to install heat pumps.

State and local rebate programs: In addition to federally funded programs, many state, local and utility rebates are available to incentivize energy-efficient home improvements. These offers can vary so it’s best to speak to a local expert such as your HVAC contractor, or use this zip code-based HVAC savings database at York.com/residential-equipment/rebates-and-savings as a point of reference.

Manufacturer rebates and financing options: When it comes to your home’s efficiency, heating and cooling often account for the most energy consumption — and the highest utility bills. Because of this, upgrading the HVAC system can often provide the greatest payback.

Regardless of your home comfort needs, manufacturers such as YORK have an extensive offering of energy-efficient systems, including electric heat pumps, that may be eligible for certain rebates. Plus, your contractor can discuss available financing options to help with the upfront equipment costs to maximize savings.

2024-04-04T08:13:00

(BPT) – A single day in construction can prompt just about every emotion — the pride of seeing a project near completion, the frustration of project delays and the anxiety that comes with accidents and injuries. Safety controls help mitigate risk, but accidents can still occur. If something goes wrong, insurance can help protect your livelihood.

“Fluctuating material costs, weather changes and staff shortages are a few of the many things outside a contractor’s control,” says John Lack, former general contractor and current construction consultant at Acuity Insurance. “Given the industry’s unpredictability, it’s important to manage what you can. By not being adequately insured, many contractors are leaving themselves vulnerable to the potentially business-ending impacts of accidents and injuries.”

If it’s been a while since you’ve reviewed your insurance coverage or you are not sure what’s in your commercial policy, consider the following coverages and whether it’s time to call your agent to discuss.

Workers’ Compensation Insurance

When an accident occurs, you want to get your staff healthy and back to work. Choosing an insurance partner equipped with additional services can help your employees get back to work sooner, have better outcomes and save you money. Acuity Insurance offers a nurse helpline that helps streamline access to nonemergency care for injured workers. Acuity also reviews every bill incurred to make sure the treatment is applicable to the injury and charges are billed correctly. This means you’ll only be incurring costs for what you should. These services help ensure employees are cared for and reduce expenses.

Liability Insurance

General liability policies help protect a business when someone takes legal action against it. Acuity’s general liability policies apply the policy aggregate limit separately for each project and each location, satisfying your contract requirements and protecting your interests. Contractors’ errors and omissions coverage protects your business if someone sues you for work performed incorrectly. Voluntary property damage coverage applies to accidental damage to customer property you are not working on left in your care or control at a work site. These coverages provide financial protection if things go wrong.

Commercial Auto Insurance

Any business that owns or leases vehicles or has employees drive their personal vehicles for business purposes should have commercial auto insurance. Commercial auto insurance covers many business vehicle types, from cars to semitrucks. Commercial auto insurance covers your vehicle’s liability you assume while driving. Unfortunately, accidents happen, and they can get expensive quickly. Commercial auto coverage can help you get back to work after an accident.

Property Insurance

You have a lot of things worth keeping safe. Your building is your home base, and we know you rely on your tools and equipment to keep your work going. Working with your insurance company to tailor your coverages and limits should give you peace of mind that you can quickly return to work if something goes wrong.

Insurance is an important way to secure your business’s financial well-being. Choosing the right coverages and partner can make the difference between being able to rebound from financial loss and having to shut down.

“Construction is a challenging, rewarding and sometimes risky industry,” Lack says. “It’s wise to work with an independent insurance agent who understands your business and can help to ensure ongoing protection for your business.”

2024-04-02T14:37:00

(BPT) – As the longer and sunny days quickly approach, your credit card can be a valuable ally in navigating the seasonal spending spree wisely. Beyond being a convenient and safe payment method, credit cards offer many benefits for consumers to leverage during their spring travel and shopping. Whether you earn travel miles or cashback rewards through your credit card, spring break is a great time to maximize your credit spending while also ensuring financial responsibility. Take a look at the three best ways to use your credit card during the spring season!

1. Maximizing Credit Card Rewards

We’re sure you’ve heard of a multitude of options available in terms of rewards when applying for a credit card. Choosing a credit card that offers generous rewards for purchases allows you to gain points and miles, which can then be redeemed for discounts or freebies. These credit cards present a valuable opportunity to offset spring expenses, effectively turning your spending into savings!

By strategically choosing when and where to use your card, you can maximize these rewards, ensuring you get the most value for every dollar spent. It’s a smart and savvy way to make your shopping not only enjoyable but financially rewarding.

If you’re planning to travel, using a credit card that offers great miles is also extremely beneficial. Nowadays, many airlines and payment networks collaborate on co-branded credit cards that offer great perks. You can beat the spring break rush by having access to security lines and airport lounges.

2. Utilizing Cash Back to Your Advantage

Cashback programs offered by credit cards can help savvy shoppers harness the power of these programs to add a sprinkle of savings to their seasonal splurges. Whether it’s for that perfect spring formal dress, beach gear for your getaway, or ingredients for a family gathering, you’re not just spending; you’re earning back a percentage in cold, hard cash or statement credits.

Choosing the right cashback rewards program can help you save money and ensure your credit score stays high. As you embark on your spring shopping sprees or plan your spring break adventures, remember: with the right cashback rewards program, every purchase becomes an opportunity to save.

3. Building Your Credit

Building your credit by using a credit card during spring shopping can be advantageous for consumers in several ways, such as improving your credit score, establishing a good credit history, and enhancing security measures.

Responsible credit card usage contributes positively to your credit history, demonstrating to creditors that you can manage credit responsibly. Timely payments on your credit card can boost your credit score over time, opening doors to better loan terms, lower interest rates, and increased financial flexibility in the future.

Credit cards often come with robust fraud protection measures. Using your credit card for spring travel or shopping can enhance security, and if unauthorized transactions occur, you are typically not held responsible for fraudulent charges.

Overall, as you declutter for spring cleaning now is a great time to prioritize using your credit cards to ensure a financially rewarding and responsible experience. By maximizing your rewards and cashback opportunities you can make larger purchases for your friends and family, while also building an effective credit history.

2024-04-02T14:33:00

(BPT) – With spring finally here and summer right around the corner, this means one thing for a lot of people: vacation! As we enter the warmer seasons, many people are prepping their summer plans and travel arrangements.

While it’s fun to see a new place or visit family and friends, there are already plenty of costs that add up during this time of the year. Vacation costs can pile up with airfare, hotels, car rentals and more, but you can alleviate some of these costs with your credit card rewards. These programs allow you to make the most out of your travels. Rather than worrying about the price tag, you can focus on enjoying your getaway.

There are so many types of credit cards out there, so it’s important to look at the variety of rewards that different cards offer before you decide on which one to get. For instance, several credit cards offer signup bonuses, different earning rates and redemption options by simply choosing the card. Once you’ve signed up for the card, you can start using all the great benefits!

Many different credit cards cater toward travel expenses and offer a long list of deals that you wouldn’t have access to otherwise. Not only can you use rewards points toward your flight, but there are also other travel perks with credit card rewards that you may not have even known about, such as airport lounge access, travel insurance or baggage protection, to name a few.

Additionally, there is usually a list of hotels, car rentals, restaurants and more that partner with these different rewards programs to give you access to low-rate stays and premium options for less. Depending on what you value as a traveler, there is a reward card to meet every consumer’s needs. If you haven’t already, take advantage of your credit card benefits, maximize the value of your travel rewards, and start packing for your next vacation!

But things could change in the future. Proposed legislation could impact credit card rewards, potentially limiting these travel benefits. Learn more about the Credit Card Competition Act and how it might impact your credit card rewards.

2024-04-02T09:01:00

(BPT) – By: Konda Pollard and Brent Suriano, Synovus Bank

According to recent research, while 74% of Americans engage in financial planning, only 15% have a written plan and 30% lack any long-term financial goals. With April being Financial Literacy Month, many people are seeking advice on how to get their finances in order. With a well-laid and continually updated financial plan, people can feel more in control of their financial future and more confident in meeting their goals.

Over the past few decades, financial products have become more accessible to the public, which has led individuals to have more bank and investment products than ever before. Between bank accounts, credit cards, auto loans, mortgages and multiple investment accounts, it can be tough to begin organizing. Together with a financial advisor, taking a holistic look at where your money is going may help you find places to cut down on spending and save money toward your goals.

To implement a financial plan that works for you, consider the following:

• Find the right advisor for you. Start by asking yourself, “Do I have the time and energy to be the best financial advisor for myself?” The answer may be no, which is why experts are readily available to help. A Synovus financial advisor can help you build out a goal-based plan. It is simple to aim to “save more, spend less,” but a trusted advisor can help you highlight specific goals to work toward, which will strengthen your emotional connection to achieving those goals. For example, envisioning saving up for a tropical family vacation or buying a luxury item can strengthen your commitment to a financial goal more than aiming to save a certain dollar amount.
• Work backward to arrive at a plan. Consider where you want to be in 5 or 10 years, and then discuss what you need to start today to get yourself on track. Discuss short-term and long-term priorities with your advisor, and work toward setting realistic goals. Planning for retirement, which may be several decades away, can feel daunting, but working with the end goal in mind can provide perspective for the short-term goals.
• Consider your life stage. There is no “one size fits all” plan for achieving financial goals. Someone who is fresh out of college will have vastly different goals and cost outlays than a 50-year-old with a family. Working with trusted experts will help craft a plan that is unique to you, your life stage and your individual goals. Once you have your financial plan in place, make sure it evolves with your lifestyle, needs and family dynamics. Aim to meet annually (or more often) with your advisor to ensure your plan is staying up to date with any lifestyle changes, such as a new job, new home, marriage or children, and is maximizing your money given the economic conditions at that time. Having regular check-ins to make small updates will be much less mentally taxing than updating a financial plan that hasn’t been reviewed in several years. And remember it is never too late to get started.
• Celebrate wins. Create milestones in your financial plan and celebrate when they are achieved. Big or small, recognizing progress will give you an emotional boost to keep striving for the next goal.

Life is full of uncertainties, but your financial future doesn’t have to be one of them. Financial Literacy Month is a great time to take a closer look at your finances and assess your goals with a trusted advisor that can help set you up for success in April and beyond.

Konda Pollard and Brent Suriano are directors of private wealth at Synovus Bank.