Abacus Financial Services

Financial wellness is a relative measure of how well a person manages their financial life. Improving financial wellness starts with practicing better money habits, setting goals and taking steps toward improving the quality of life. Similar to what psychologists refer to as the hierarchy of needs, there’s also a hierarchy of financial need.

Financial wellness and literacy are closely related. Since wellness involves taking steps to produce a positive result, then literacy is just embracing those concepts to pursue it successfully. There are several ways an individual could improve financial wellness but the first step is always improving one’s financial literacy. From this vantage, individuals may apply that knowledge to achieve the end goal of financial wellness.

The Association for Financial Counseling and Planning Education (a non-profit 501c3 organization) describes mentorship as enabling and encouraging individuals and families to view behavioral adjustments positively as they prepare to make financial decisions. Mentorship is a guidance and support relationship where a more experienced individual (the mentor) helps a less experienced one (the mentee) grow and develop, often in a specific field or area of interest.. 

As a society, our most important asset is our ability to make money and our biggest liability is our obsession with spending it all. Mentors counsel, while financial service professionals use their technical training to offer solutions as they match client preferences to a product or strategy. These are two separate functions, but when working together they'll create a road to financial wellness, by.....

First, establishing a clearer picture of all things financial and
Second, by merging the quantitative conversation (e.g., cash flow and net worth) with the qualitative (e.g., personal priorities and values) 

What financial mentorship provides....

* It educates on sound financial principles 
* It helps identify ineffective money-management behaviors 
* It focuses on achieving financial goals 
* It supports the process of working through financial challenges 
* It helps individuals understand the mechanics of money management 

Where does mentorship begin....

Usually by applying certain core competencies and measuring that against your individual or family situation. If needed, a foundation is created, after which ongoing support continues via the itemized list above.

Additionally, mentorship supports the coordination of product solutions where appropriate. Why... because staying focused on your financial goals can be difficult. You know what they are, and you know you’ll be better off if you stick to them. But, like most, you also have a lot going on in your life, and it can be hard to remain dedicated to something just floating around in your head. 

Finally, if you’re feeling stressed, know that you are not the only one frustrated. People interested in improving their financial situation understand they need a purpose-based approach and struggle to make progress.

That said, Abacus offers a foundation building approach supported through software, an educational library and unlimited mentorship via experienced professionals as referenced in the brochure below....

Abacus Bi-Fold Brochure, Unfolded (Flat View)

If you are not a current Abacus client but wish to be included, just go to the "General Inquiries" tab in the header and complete the form. In the message area just type "Financial Wellness Service Subscription"... it's that easy! Abacus clients are never charged, Non Abacus clients are charged a small monthly fee.

About the Association for Financial Counseling and Planning Education (AFCPE)

As a non-profit organization, they are dedicated to promoting financial literacy through multiple channels. Although focused more on the challenges of everyday financial life, they do support life-event planning in both purpose and practice.

AFCPE brings together research, education and practical experience, and supports the profession through comprehensive training, professional development and high-quality resources to help improve the financial well-being of individuals and families. For over 30 years, they have worked with the government, the military and a wide range of agencies to set policy. And, continue to collaborate with local practitioners that share their values and vision. We proudly support the AFCPE mission.