SPONSORED CONTENT -- (StatePoint) Managing competing financial priorities can be emotionally and logistically complex, whether you’re juggling college tuition bills and mortgage payments, or you’re carving out opportunities for travel while planning for retirement.

According to CERTIFIED FINANCIAL PLANNER^™ professionals, following these tips can help you effectively make space in your budget for everything that matters to you:

Get started early: While there is no wrong time to make a financial plan, waiting until you achieve a certain level of wealth can be counterproductive. Having a plan at the outset will help you achieve your goals faster and with less anxiety.

Set specific goals: Being precise about your goals can help ensure you’re prepared to achieve them. For example, simply saving for retirement is terrific, but having a clear vision of what you want your retirement to look like can help you map out a financial plan that gets you exactly where you want to go.

Be strategic about debt: If getting out of debt is one of your financial goals, be strategic about it. Pay off credit card bills and loans with higher interest rates first to reduce the overall cost of your debt over time and free up more of your money for your other priorities.

Maximize savings: If you can only afford small contributions to your savings right now because of other financial priorities, don’t fret. You can actually maximize every dollar that you budget for the future if you play your cards right. A CFP^® professional can guide you toward savings opportunities that come with tax advantages, as well as high returns and interest yields.

Protect your wealth: Unexpected circumstances can disrupt even the best-laid plans. Account for such possibilities as market downturns, loss of income and the need for long-term care to reduce the risk of your important goals going unmet.

Stay calm: Money is the source of many emotions, including guilt and anxiety, and it is easy to get swept up in those negative feelings when you unmindfully spend money on vacations, dining out and other lifestyle experiences. Creating a budget can help you realistically balance fun, short-term goals with long-term financial security.

Partner with a professional: A CFP^® professional can help you juggle competing financial priorities gracefully. Not only will they sit down with you to identify your objectives, but they also possess the expertise to guide you to the tools and strategies that will help you most easily reach your goals. A CFP^® professional is also someone you can trust. As part of their CFP^® certification, they commit to act as a fiduciary and provide financial advice that is in their clients’ best interests. To find a CFP^® professional, visit letsmakeaplan.org.

From buying a house or car to financing your child’s education or wedding, smart strategies can help you meet life’s many exciting adventures with confidence.

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