MyPocketFP Podcast

Pocket-Sized Financial Planning: Monitoring Your Money Vitals

• Jason Taylor • Episode 2

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What Does “Pocket-sized” Financial Planning Really Mean?

Ever wondered what your financial vital signs would look like? Just as doctors monitor your heart rate and blood pressure, certified financial planner Jason Taylor has created an innovative system that tracks the pulse of your money through a pocket-sized app. Gone are the days of intimidating binders and complex spreadsheets – financial planning now fits comfortably in your pocket and actually makes sense.

The MyPocketFP approach transforms abstract financial concepts into measurable indicators anyone can understand. By checking these vitals weekly, users witness their progress in real-time, creating powerful motivation through visible results. Imagine the satisfaction of watching your debt percentage steadily decrease or your retirement savings consistently grow! This visual feedback creates psychological incentives to maintain positive financial behaviors without the overwhelm of traditional methods.

What makes this system truly revolutionary is its tiered approach to personalization. Starting with essential cash flow planning (deliberately avoiding the trauma-inducing word "budget"), the platform scales to match your financial complexity. The base level handles fundamentals like W-4 completion and 401(k) setup, while advanced tiers offer sophisticated tax planning and business strategies. This hybrid system balances automated calculations with personalized guidance, providing comprehensive coverage across taxes, insurance, retirement, and investments. While perfect for routine financial decisions, Jason honestly acknowledges that major life transitions still benefit from professional input – a refreshing perspective in today's tech-focused world.

Ready to transform your relationship with money? Download the MyPocketFP app today and discover how small monthly changes can create massive positive shifts in your financial endgame. Your financial planner is now officially pocket-sized and doesn't charge by the hour!

To learn more about MyPocketFP visit:
https://www.MyPocketFP.com
MyPocketFP

Speaker 1:

Welcome to my Pocket FP, the podcast where your wallet finally meets its financial planner and they actually get along. Join your host, jason Taylor, certified financial planner, money mentor and your guide to financial freedom. Whether you're planning for retirement or just trying to figure out where all your money went last weekend, we've got you covered. Get ready to take control of your financial life with smart tips, surprising insights and yes, an app that fits right in your pocket. This is my Pocket FP, because your future deserves more than guesswork.

Speaker 2:

Forget the spreadsheets and binders. Financial planning just got a whole lot lighter. In this episode, Jason breaks down what pocket size really means and how it's changing the way we manage money on the go. Welcome back everyone. I'm Millie M, co-host and producer, back in the studio with Jason Taylor, certified financial planner and creator of my Pocket FB. How's it going, Jason?

Speaker 3:

Going well. Thanks, Millie.

Speaker 2:

Awesome. I'm looking forward to learning more about this one, because if financial planning can fit in my pocket, I'm officially out of excuses. What does pocket-sized financial planning really mean officially?

Speaker 3:

out of excuses. What does pocket-sized financial planning really mean? Well, basically, we take the idea of monitoring your financial vitals, a lot like a doctor does. They measure your heart rate and different aspects of your health. We do the same thing with finance and pocket-sized it's within an app, so it can be on your phone and you can watch the measurements of your financial vitals. I wouldn't necessarily want you to do it day by day, but definitely once a week. Take a look and see how it's doing.

Speaker 2:

So how does pocket size planning help people like myself who feel overwhelmed by traditional methods?

Speaker 3:

That's really why we're focusing on this app, because it measures those vitals and you can make small changes and they can make a big difference in the long run. So if you just kind of monitor it and watch, you know, say, like your debt going down, it can motivate you to even pay it down even more. So that's one of the things we monitor is debt rate, and by monitoring it, you know people can watch it go down and get excited, or see it go up and get motivated to reverse it.

Speaker 2:

So is pocket-sized planning. Is it supposed to be comprehensive or more of a starting point?

Speaker 3:

It is comprehensive. We look at everything from taxes to insurance to retirement and investments. We look at everything. So it's pretty comprehensive for most people.

Speaker 2:

And how do you balance the simplicity of the vital sign concept with personalization? Because you know everybody's life situation is different and they really need their financial planning personalized just for them. So how?

Speaker 3:

do you?

Speaker 2:

balance those two.

Speaker 3:

Yeah, well, the main balance is we have different levels. The base level is helping people fill out their W-4s basic questions on how to set up a 401k, just getting started, type of things and then the next level is a little more advanced, with some tax planning for people who have tax issues, and the higher up level has even more tax help and looks into how to have business savings and things like that. So each level has a little more personalization necessary for it.

Speaker 2:

Would you say these levels are based on income level. As your income goes up, your level goes up.

Speaker 3:

Not necessarily. It's more complexity which actually comes with income. So it's they almost go hand in hand, but it's not exact.

Speaker 2:

Okay, what role do you think technology or would you say technology plays in financial planning as a whole and making it mobile and intuitive, in helping people?

Speaker 3:

You know, I I struggle because I make, because I think it makes it too easy for people and they take the wrong information. And you know, like Wikipedia and Investopedia and those things, they have information but not necessarily for every person, and that's why we want to individualize a little kind of, have a hybrid system between some things are automated, like the calculation of the different elements and the rates, and whereas they might have more personalized questions that are necessary.

Speaker 2:

Makes sense, makes sense. So, for someone just starting out, what's the first step to making their financial life fit in their pocket? How can they so you?

Speaker 3:

know it's funny you say just starting out, but not necessarily just starting in. You know working, it's really focusing on your finances and I'd say step one for everyone is what everybody loves. You know the budget and we try not to use the name budget. Yeah, cashflow plan. You know different names because the word budget just.

Speaker 1:

I saw your eyes light up when you heard that.

Speaker 2:

I'm glad that word brings me trauma.

Speaker 3:

That is step one. So we do. Cash flow planning is step one and on our website it'll walk you through the process.

Speaker 2:

Okay, and one last question what kinds of decisions can someone confidently make using this pocket-sized method? Is it for all decisions, investing and home purchasing? Talk to us about the decisions that people can feel more confident making by using your method.

Speaker 3:

Right, the stuff that does not need the financial plan behind it. You can calculate how much to invest, how much to save. Things like that can be automatically kind of planned by the person. But the bigger things, like how to plan for education and we just had a baby, now what? Just got married, now what, those big life moments you really need a little more personal touch than just, you know, ai or some app.

Speaker 2:

Yes, you definitely have to balance that simplicity, like I said, with the personalization. You can't oversimplify your finances and what I learned is that, like a flat budget, doesn't even work from month to month because in August but September is my birthday month, so I might go all out.

Speaker 1:

So happy birthday yeah.

Speaker 2:

But even with that cashflow planning you definitely have to look ahead from month to month and adjust for those changes. So thank you so much, jason, for unpacking that Turns out. Pocket size doesn't mean small impact Exactly Appreciate your insight.

Speaker 1:

Thank you, appreciate your insight.

Speaker 2:

Thank you, appreciate your insights. We'll see you on the next episode of my Pocket FP. Sounds good.

Speaker 1:

Thanks for tuning in to my Pocket FP, where we believe small monthly changes can make big positive changes in your financial endgame. If you're ready to level up your money game, head over to MyPocketFPcom and download the app today. Your financial planner is now officially pocket-sized and doesn't charge by the hour Until next time. Keep your goals high, your debt low and your's smart.