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Bradford Financial Center, a national wealth management company, delivers a financial advisor's simple approach to making small changes that can result in big results for your financial future. From budgeting, tax planning, and saving for retirement to college planning, smarter insurance solutions, and building wealth, the practical advice is easy to apply for investors at any level.
All episodes include a "Five in Five" segment where we break down quick-hit financial trends for their listeners.
0:00:02.2 Speaker 1: Welcome to your Wealth Journey podcast powered by Bradford Financial Center, where we'll always share how small changes equal big results because your wealth journey is our focus.
0:00:13.6 Shallon Weis: Welcome back to your Wealth Journey podcast produced by Bradford Financial Center. I'm Shallon Weis, a financial advisor with Bradford with offices in Clarion and Garner, Iowa. We're proud to serve the heart of America and help people make confident, informed financial decisions.
0:00:29.0 Jim Tausz: I'm Jim Tausz, president of the Bradford Financial Center. With over 50 years of financial planning experience, today's conversation is one that goes beyond numbers. We're talking about the connection between money and mental wellness and how thoughtful financial planning can reduce stress in a very, very real way.
0:00:49.0 Shallon Weis: This is something we hear from clients all the time. Financial stress doesn't just stay in your bank account. It shows up in your sleep, your relationships, and your overall sense of well-being.
0:00:59.6 Jim Tausz: And the good news is that while money can be a source of stress, it can also become a source of stability when there's a plan behind it.
0:01:09.8 Shallon Weis: Exactly. And be sure to stay with us through our 5 and 5 segment where we'll share simple ways to start reducing financial stress right away. But first, let's talk about why money and mental wellness are so connected. So I think it's important to start with a simple truth that money is emotional.
0:01:27.2 Jim Tausz: It really is. Even though we like to think that financial decisions are logical, they're often tied to fear, uncertainty, and even past experiences.
0:01:38.3 Shallon Weis: And we see that in different ways. Some people avoid looking at their finances altogether because it feels overwhelming. Others check constantly because they're anxious about getting it wrong.
0:01:48.6 Jim Tausz: And both reactions come from the same place, a lack of clarity. When you don't have a clear understanding of exactly where you stand or where you're going, your mind fills in the gaps with worry.
0:02:02.0 Shallon Weis: That uncertainty can create a constant low level of stress. It's not always dramatic, but it's always there in the background.
0:02:10.1 Jim Tausz: True. Over time, that kind of stress can actually impact decision-making. People may delay important choices, avoid opportunities, or make reactive moves based on emotion instead of real good strategy.
0:02:26.3 Shallon Weis: So the goal isn't just to improve your financial picture. It's to reduce that mental load that comes with uncertainty. So where does financial stress come from? I think that these are some of the most common sources of financial stress that we see. For many people, it starts with uncertainty not knowing exactly where you stand financially or whether you're on track. And this can create a constant sense of pressure. It's that feeling of, "I think I'm okay, but I'm not sure." And that uncertainty tends to linger. And another big source is competing priorities. You're trying to balance day-to-day expenses with saving for the future. Maybe you're supporting kids or aging parents, all while managing your own goals. When everything feels important, it can be hard to know what to focus on first.
0:03:14.0 Jim Tausz: I'd say we also see stress come from a lack of visibility. Accounts spread across different places, old retirement plans, investments that haven't been reviewed and looked at in years. When things feel scattered, it's really harder to feel like you're in control.
0:03:33.0 Shallon Weis: So, kind of like that one drawer in your house where everything ends up. You're not exactly sure what's in there anymore.
0:03:40.8 Jim Tausz: Actually, a pretty accurate comparison, Shallon.
0:03:43.9 Shallon Weis: So all kidding aside, there's also the emotional side of finances that triggers stress. Past experiences, fear of making a mistake, or even just the pressure to get it right can cause people to avoid engaging with their finances altogether. So the common thread in all of this is that stress often doesn't come from one big issue. It builds from small unknowns, unclear direction, and feeling like you're managing it all on your own.
0:04:11.7 Jim Tausz: One of the biggest is simply not having a plan at all. When there's no roadmap, every decision feels heavier because you don't really know how it fits into the bigger picture for yourself.
0:04:24.6 Shallon Weis: And another one is feeling like you're behind. Whether it's retirement savings, debt, or just keeping up with expenses, that feeling can be really difficult.
0:04:34.9 Jim Tausz: And often that perception isn't even based on facts. It's based on comparisons and assumptions. But without clear numbers or a plan, it's really hard to challenge those thoughts.
0:04:48.2 Shallon Weis: We also see stress around major life transitions things like retirement, career changes, or sending kids to college.
0:04:56.2 Jim Tausz: Those are the big moments. And when people don't feel prepared for them financially, what does it do? It adds another layer of pressure.
0:05:04.8 Shallon Weis: And then there's market volatility. Headlines, news cycles, and uncertainty can create anxiety, especially if you're not sure how your investments are positioned.
0:05:15.2 Jim Tausz: That's where the structure becomes so important. Because when you understand your strategy, you're less likely to react emotionally to short-term changes as time goes on.
0:05:26.1 Shallon Weis: So let's shift to the positive side of this. How does financial planning actually reduce stress?
0:05:32.4 Jim Tausz: Yes, let's reduce all the stress. Now, the biggest benefit is clarity. When you have a plan, you know where you are, you know where you're going, and the steps that you need to take.
0:05:44.1 Shallon Weis: And that clarity replaces uncertainty. Instead of wondering if you're doing the right thing, you have a framework guiding your decisions.
0:05:51.7 Jim Tausz: Another key piece is coordination. Financial planning brings together the investments, taxes, insurance, and long-term goals into one great big comprehensive strategy.
0:06:03.6 Shallon Weis: And when those pieces are aligned, people feel more in control. And that sense of control is a major factor in reducing stress.
0:06:11.3 Jim Tausz: It also creates confidence, I might add. Not because everything is perfect, but because you understand how your plan is designed to adapt over periods of time.
0:06:22.0 Shallon Weis: And I think it's important to say this that financial planning doesn't eliminate uncertainty. Life will always have unknowns.
0:06:29.8 Jim Tausz: But it gives you a way to navigate those unknowns. Instead of reacting, you're responding with intention.
0:06:36.5 Shallon Weis: And we often hear clients say they feel a sense of relief after going through the planning process. That's not about numbers; that's about peace of mind. This is also where working with an advisor can make a difference.
0:06:48.6 Jim Tausz: An advisor's role isn't just to manage investments. It's to provide perspective, structure, and guidance along the way.
0:06:55.7 Shallon Weis: And sometimes it's as simple as helping someone understand their situation clearly for the first time.
0:07:01.5 Jim Tausz: Or helping them stay on track during uncertain periods as well. That consistency can reduce a lot of stress. It gives people something steady to rely on even when everything else feels unpredictable. And it helps take the pressure off feeling like you have to react to every change or make a perfect decision at every moment.
0:07:23.5 Shallon Weis: It also creates accountability in a positive way. You have someone helping you connect your decisions back to your goals.
0:07:31.1 Jim Tausz: And over time, the relationship builds trust. Not just in the plan, but the ability to follow that plan.
0:07:39.1 Shallon Weis: And that's where confidence really starts to grow. And if there's one takeaway from today's conversation, it's that financial planning is about more than numbers. It's about creating a sense of stability and clarity in an area of life that often feels uncertain.
0:07:55.4 Jim Tausz: And that stability can have a very meaningful impact on your overall well-being, I might add. You don't need to have everything figured out. You just need a plan, a starting point, and a willingness to take the next step.
0:08:09.5 Shallon Weis: And if that step is simply gaining a clearer understanding of your financial picture, that's a great place to begin.
0:08:15.9 Speaker 1: In our last five minutes, we'll bring listeners a roundup of five smart ideas they can apply to their own wealth journeys. So let's get started with this episode's 5 and 5.
0:08:25.0 Shallon Weis: So before we wrap up, let's move into our 5 and 5 segment. Today we're focusing on five simple ways to seriously reduce financial stress.
0:08:34.6 Jim Tausz: These are small actions that can actually create a noticeable shift in how you feel about your finances.
0:08:42.3 Shallon Weis: So tip one is get clear on one number. I suggest you pick one number to understand clearly. It could be your monthly expenses, your savings balance, or your retirement contributions.
0:08:54.1 Jim Tausz: Here's a simple real-life example of that, Shallon. Let's say that you choose your monthly spending as your number one. You sit down and look at at least the last two or three months the bank, the credit card activity and realize that you're spending about $5,200 a month. At first, that number might feel a little surprising, but now you have the clarity. You can see it. From there, a few things naturally happen. First, you can compare it to your income and see exactly what's left over. Two, you might even notice patterns, like higher spending on dining out or even subscriptions that you take. And three, you can decide if that number supports your goals and needs.
0:09:46.0 Shallon Weis: Hmm, that's powerful because it gives you a starting point. Instead of saying, "I should probably save more," you can now say, "If I reduce spending by $300 a month, I can redirect that into savings or investing." So that's the power of one number. It turns something vague into something actionable, and it helps you move from guessing to making intentional decisions.
0:10:11.2 Jim Tausz: Tip two: You need to limit financial noise out there. Try stepping back from the constant financial news and market updates that you get. We're surrounded by financial information all the time, market updates, breaking news, social media opinions, predictions about what's coming next. While it can feel like you're staying informed and it's helpful, actually, sometimes too much input often creates more anxiety and less clarity at times. The challenge is that most of the information is short-term and reaction-driven as well. It is designed to grab attention, not support that long-term decision-making that you need to make over the years.
0:11:02.8 Shallon Weis: Gosh, yes. That's so true. When you're constantly consuming it, it can make normal market movement feel like something you need to act on right away.
0:11:11.5 Jim Tausz: Right. Limiting financial noise doesn't mean ignoring your finances; it just means being intentional about what you pay attention to and when you pay attention to it. For example, you might choose to check your accounts once a month instead of daily, or rely on a trusted advisor or perhaps a structured review process instead of the headlines only. This creates space to focus on your plan instead of actually reacting to every update that you see.
0:11:45.1 Shallon Weis: Over time, that shift helps reduce stress, improve confidence, and keep your decisions aligned with your long-term goals instead of short-term emotion.
0:11:54.2 Jim Tausz: Bottom line, too much information can actually increase anxiety without improving decision-making. No, no, no, no. Not good.
0:12:04.1 Shallon Weis: So tip three is to create a simple plan outline. Write down three things, where you are, where you want to go, and one step to get there. So financial planning doesn't have to start with a complex spreadsheet or a detailed strategy. It can begin with something very simple. Just three things written down. So first, write down where you are today. This could be your income, savings, debt, or even just a general snapshot like, "I'm saving a little each month, but I don't have a clear plan." Second, where do you want to go? This might be retiring at a certain age, building a specific savings amount, paying off debt, or simply feeling more in control of your finances. And third is to write down one step to get there. Not 10 steps, just one. Something realistic that you can take action on right away, like increasing your retirement contribution by 1%, setting up an automatic transfer to savings, or reviewing one account that you've been ignoring.
0:13:08.4 Jim Tausz: Honestly, the value of this exercise is that it turns something that feels actually overwhelming into something really clear and actionable. You're not trying to solve everything; you're creating a direction. Here's the top tip that we need to pay attention to very much so, schedule a money check-in. Set aside the time once a month to review your finances. Even 20 or 30 minutes of focused time can help you catch small issues early, track progress towards your goals, and stay connected to your plan instead of drifting off course.
0:13:50.5 Shallon Weis: And sticking with it regularly helps you stop putting it off and start feeling more in control of your money. And our last one, tip five, ask for help. If you're feeling overwhelmed, talk to someone and that could be an advisor or a trusted professional.
0:14:06.1 Jim Tausz: You know, I like that, Shallon. Folks, you don't have to figure everything out on your own, for crying out loud.
0:14:13.4 Shallon Weis: And if you try even one of these, you're already taking a step toward reducing financial stress.
0:14:19.2 Jim Tausz: And over time, those small steps can create a much stronger sense of control and confidence. But I have a bonus tip for our listeners today, Shallon.
0:14:24.7 Shallon Weis: Oh, really?
0:14:30.2 Jim Tausz: Yes. It seems like a simple idea, but automating your payments or even your contributions that you make to investments can free up time and help you stay consistent with your goals as you go along. By setting up automatic transfers for savings and investments and recurring bills, you actually remove the need to make constant decisions, and that reduces the risk of missing something very important. It creates a steady rhythm where progress happens in the background, helping you build momentum over time. And instead of relying on willpower, automation will allow you to take your financial plan and have it work quietly and consistently for you continually.
0:15:21.8 Shallon Weis: That's smart, Jim. You don't realize how much time those tasks take. I'm a big fan of automating my life so I can spend time doing the things that bring me more joy. Well, that's all the time that we have for today.
0:15:34.1 Jim Tausz: Well, thanks again for listening, and we'll be with you again soon on your Wealth Journey with the Bradford Financial Center.
0:15:44.3 Speaker 1: Thank you for tuning in to your Wealth Journey podcast, powered by Bradford Financial Center. Be sure to tune in to our next episode where we'll continue to explore the smart financial strategies you need to know. Securities are offered through United Planners Financial Services, member FINRA, member SIPC. Advisory services are offered through Bradford Financial Center, a registered investment advisor. Insurance services are offered through Bradford Insurance. Tax and accounting services are offered through Bradford Tax and Accounting Network. Bradford Financial Center, Bradford Insurance, and Bradford Tax and Accounting Network are not affiliated with United Planners. Neither Bradford Financial Center nor United Planners provide tax or legal advice. This podcast is for general information and educational purposes only and is not intended to be specific advice for any individual. Consult your financial professional regarding your personal situation. All investing involves risk, and there's no guarantee that any strategy will be successful.