Keagan's Financial Groove

Hello, everyone! My name is Keagan, and I am a senior here at the U. I was born and raised in Chicago, and I love to ski and spend time outdoors. In addition to those hobbies, I am also super passionate about personal finance and wealth management.

Money is one of those things we all deal with, but not everyone feels comfortable managing it. Growing up, I watched my father handle finances with confidence, and I wanted to be able to manage my own in the same manner. Naturally, I gravitated towards business classes in high school—exciting ones like investing and entrepreneurship. I was drawn to the freedom that financial literacy could provide and by the time college rolled around I knew I wanted to go into finance. Having a great business school combined with the accessibility of world class skiing, I found myself here at the University of Utah.

Finding My Financial Groove

I have always felt that financial skills were so valuable, even outside of the workplace. I saw it as the one area that would be the most beneficial to me no matter where I am or what I am doing later in life. Being able to be “smart” with money, and having knowledge around budgeting, forecasting, and investing, was and still is very important to me. It is a confident feeling as I could enter a variety of fields post-college while knowing I have the skills and tools to stay financially well. I believe everyone should strive for some level of financial education, because while money cannot buy happiness, it does make the world go ‘round. And being a dedicated skier I have had to not only find a healthy work-life balance, but a financial one too. Staying on top of personal finances so that I can afford to do the things that makes me happy is key. There are many elements of personal wealth management, and it can be a lot to take on at once. So, I would like to share my three favorite parts of personal finance; areas that are important and exciting to me!

Budgeting

Having a solid up-to-date budget is the foundation of personal finance. It helps you figure out how much you have to work with each period, and where you can alter expenses as needed. It is always interesting to go in and look at different areas of your spending that may surprise you with their amounts. And it is a great way to stay organized by laying it all out so you can get a full picture of your period-to-period personal cash flow. Figuring out how much I have ‘left over’ gives me the confidence to set aside money for other ambitions. Whether that is retirement savings or planning a ski trip with my friends, it is a wise habit to know you are safely setting money aside or investing in other things because you did your budget and know your expenses are covered.

Investing

Over the years I quickly learned that there are much better alternatives to letting your money stagnate in a regular checking account, and that you should put it to work instead! Using different financial instruments such as index funds or bonds, all depending on your goals, is a great way to maximize your financial opportunities. The list of investment options is never-ending and between risk, time, liquidity, and cost, everybody can find a style that floats their boat. And above all, when you start at a young age, the power of compound interest really is incredible. I believe everyone should start saving/investing as young as they can; staying diligent in regular contribution to these investments will lead to a substantial payoff in the long run.

Prioritizing

This is by far my favorite part because financial wellness is different for everybody! There is no right or wrong in what you want to save for or what your financial goals are. Identifying your personal values and using them to craft goals will keep you motivated and excited about your wealth management. Whether you want to be able to go on one big vacation per year, or you are saving for your dream car, prioritizing what is valuable to you is the best part of personal finance. For me, as mentioned before, being able to ski and pursue the interests that bring me joy, is what I find valuable. Personal finance is the exact opposite of “one size fits all”; you get to cater your planning and decision making to what you hold closest to your heart, and that’s the beauty in it!

 

Transitioning into My New Role

Being a part of the Financial Wellness Center team has been an amazing experience already. And as I begin this part of my role, I am so excited to combine my financial background with my interpersonal skills into one superpower to help others achieve their own financial goals. Leaping into personal finance can definitely be an intimidating and emotional task, which is why the mindfulness aspect is so important to me. There may be times when stressors like money consume your attention, making it difficult to focus on other important areas of your life, such as relationships, school, or work. This can be a really tough situation, and I am eager to help others find their own sense of mindfulness so that they can concentrate on what makes them happy. So, as I embrace this role, I look forward to sharing with others the same fulfillment I get from healthy wealth management. If this resonates with you, and you’re ready to take control of your finances, I’d love to help. Whether you’re just starting out or looking to refine your financial strategy, I’m here to support you on your journey. Feel free to book a session with me using the link below. I look forward to working with you!

Book with Keagan! https://uofufinancialwellness.as.me/keagan 

 

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