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Navigating the personal finance environment
GPS navigation services (e.g. TomTom, Garmin and Google Maps) provides you with in-depth visual and auditory directions regarding the most appropriate route to travel from one point to another. Importantly, these directions are provided both on an initial and ongoing basis, and are facilitated through an understanding of:
Your starting point and desired location,
As well as other considerations (e.g. preferences for mode of transportation, motorways and toll avoidance, location/progress tracking, along with external factors such as traffic conditions).
When considering your personal finances, this process can draw parallels with the benefits associated with building and leveraging a professional advice team. For example, a professional advice team can provide you with initial and ongoing directions that are appropriate to your financial situation, goals and objectives. In this funny video, we see an iconic character offer ‘helpful’ guidance in this regard.