Spring is here! Heck, it never really left.

Freesias are up way early. The Gibbs Hill Lighthouse plastic wrap flaps in the breeze and roars in heavy winds, the better to spruce it back to pristine grace when the cruise ships pull in.

Easter is on its way.

Whether you are religious or not, everywhere there are some very small fragile indications of renewal, rejuvenation, rebranding, reconciliation, and possibly economic recovery.

Full economic recovery — not just yet.

With the introduction of the Government Multi-Year budget, financial planning on a high level is now proceeding. But, in the process, this is still certainly a time to reflect on what went wrong, what needs to change, and how a proactive plan can be a financially rewarding way forward for our country to be restructured. Most importantly, the Government Financial Plan needs to be fully implemented. It is paramount that this financial plan is implemented in a sustainable, successful, and stable environment. Financial Planning is an absolutely critical necessity. It is the rudimentary basic key to success.

Taking some heed, among local individuals and family anxiety about the continued ability to earn a decent living, a very small glimmer of economic hope is also on the rise.

The current anxiety is not just about keeping a job. Over the last year or so, financial planning interactions in which I’ve participated/or presented in Bermuda, reveal a number of financial worries. In order of priority, the number one concern expressed — that has not changed is you guessed it, retirement worries:

1. Being able to retire without running out of money, or retiring early;

2. Managing cash so that expenses are predictable in this high-priced environment, so that some savings for the future can be enhanced;

3. Risk of job loss, investment value loss, inadequate or no insurance to care for a family, and fear of an uncertain economy;

4. Uncertainty about ever being able to purchase a home;

5. Taking care of estate planning;

6. Helping children with education costs;

7. And, last but very important, numerous frustrations have been expressed often by individuals concerning the amount of time and interest needed to set up a financial plan, and then follow through. Frankly, they’ve often said that it is just too difficult to do. Are they right?

Interestingly, little was mentioned regarding managing credit card debt. This is a good thing and may be indicatory of families attempting to control this financial aspect of their lives. Credit cards, ideally, should be for emergencies, travel, and situations where cash is not readily obtainable. Otherwise, the carrying interest rate charges are horrific obstacles to any decent saving plan.

Money worries are universal. Whether a government or a family, the challenge is to manage one’s finances in a manner that benefits the family.

Money is also emotional — a conveyor of guilt or control, a detriment to satisfying relationships, a use for instant gratification (probably, not a good thing), and often, just perceived as insurmountable homework.

So, what can you do in this challenging environment to feel more in control of your own financial life?

Try to ignore outside influences. Let’s face it. As much as we’d like to, we have little leverage in controlling the political, financial, and business environment that swirls around. We cannot control those decisions, but we can control, for the most part, what happens in our every day life.

Just do one financial thing that will make you feel more financially secure or start to bring you closer to a financial goal. Just one — just for today, then try it again tomorrow.

It doesn’t have to be a large or ambitious task. It can be:

Cash management. Stop hitting the ATM machines for a month, or buying lunch for a week. Put the cash saved in a penny jar, if you must to remind you of your goal.

Buying a home, or paying off an existing mortgage. If this is what you want — more than everything — then, you must cut back on all other costs. You can do this. Your goal must be overwhelming and persistent. Start now. Once a day, once a week, calculate what costs you can do without. Use frugal planning websites, friends, and your family for incentives. This will not be easy, or a short-term goal. However, owning your home, and not renting it without a doubt, the goal of your lifetime.

Retirement and your pension. Learn everything that you can about how your pension is structured, what it is invested in, how it has performed, whether your employer has contributed all of the payments. Take the pension statements line-by line. If you don’t understand, call your pension representative. For many people, your pension represents your best chance to retire with dignity. Take the statements a page at a time. Track to the pension provider’s website for additional information. Start on the investment education track. There are many, many good websites for this purpose. Learn everything you can about your pension.

Worried about your job performance? There is no longer the impediment of no resources for an education. Many universities offer free online courses. Get your skills up to date. The University of the People just placed up their first graduating class — a free four-year online university education. Khan Academy — another free online education website offers mini and maxi lessons on thousands of financial and other topics. Use them.

Be positive. Be hopeful. You can do this. You will feel better. You will be smarter. And you will feel in control of your personal environment, regardless of outside influences.

I want to hear about your progress.

Below are some valuable resources to take a JUST ONE THING financial plan step.

It does not matter — any more — how old you are. Age is just a number.

Moneywise will return to part three and part four of US real estate purchase and business issues, and part two of property insurance in the next few weeks.

The whole financial planning life cycle for consumers:

https://www.360financialliteracy.org/

Khan Academy through Facebook:

https://www.khanacademy.org/

University of the People: tuition-free online fully accredited university

http://www.uopeople.org/

One of the best sites for gaining investment knowledge:

http://www.investopedia.com/university/

Create your own financial plan:

http://financialplan.about.com/od/personalfinancebasics/ss/FinancialPlan.htm

Martha Harris Myron CPA PFS CFP JSM; Masters of Law: International Tax and Financial Services; PondStraddler* Life™ Consultancy. Focused Cross Border Financial Planning, Publications & Integrative Presentations for internationally mobile individuals and businesses.

Contact: martha@pondstraddler.com

* PondStraddler. A person with one foot on each shore whose heart resides in both countries.

This article is the expresses the opinion of the author. Under no circumstances is the general information contained within to be construed as tax advice, recommendations for insurance, investment products, a financial plan or related advisory services. Individuals should seek qualified professional advice for their personal finances.