Should you DIY your finances?

Do You Know When It’s Time to Call in the Pros?

Managing your finances can feel like tackling a big home renovation project. Some parts are fun and doable with a bit of elbow grease and YouTube tutorials. But then, you hit the complex stuff—things that require specialised knowledge or tools.

Could you keep going solo? Probably.

Would you get better results by calling in the experts? Absolutely.

The tricky part is knowing when to seek professional help and who to call.

When it comes to your financial future, knowing when to call in the pros is a game-changer. Let’s dive into how to figure out if it’s time to stop DIY-ing and bring in the experts.

Option 1: Start DIY, Call the Pros Later

Sometimes, starting on your own feels natural. You confidently set up your budget, open a savings account, getting clear on your goals and managing your day to day finance. But as your financial goals evolve, you may find yourself feeling a little bit stuck or unsure about the next step.

For example:

• You’ve created a solid savings plan but aren’t sure how to start investing.

• You’ve paid off high interest debt but need help ensuring you stay debt-free while building wealth.

• You’ve planned for retirement but want to stress-test your numbers to ensure you’re truly on track.

At this stage, a financial professional can help review, refine, and level up your plan. They’ll highlight opportunities or risks you may not have considered and give you the confidence to move forward.

Option 2: Start with the Pros, Take Over Later

On the flip side, you might want to begin your journey with an expert by your side. An expert can help you create a framework, lay down guardrails, and set achievable goals.

Once you’ve got the foundational knowledge and a plan tailored to your needs, you might then be able to confidently take the reins. For example:

• You could work with a professional to optimise your taxes and then use their advice to file on your own going forward.

• An adviser could create an investment portfolio for you, which you later manage independently using their strategy as a guide. Or they could provide strategy only advice, around structure and asset allocation but your DIY the investments.

• A money coach could help you set up a foolproof budget, and then you take it from there building the systems and habits to stay on track.

If you want to DIY but also see the value of the experts helping out- a hybrid approach ensures you’re supported when it matters most, while still maintaining control over your financial journey.  Mistakes can cost you dearly so taking the right steps forward is important.

Signs It’s Time to Call in the Pros

Still unsure if you need expert help? Here are some common situations where a professional can make a huge difference:

1. Feeling Stuck or Overwhelmed
   If you’ve been spinning your wheels, struggling to make progress, or feeling unsure about the next steps, it’s time to get some clarity. A professional can help untangle the mess and create a clear, actionable plan.

2. Specialised Knowledge Needed
   Some areas of personal finance are too complex for DIY. For example:

• Tax planning: Are you maximising deductions or planning for future tax obligations?

• Investing: Are you confident in creating a diversified portfolio aligned with your goals?

• Divorce finances: Are you dividing assets fairly and planning for your financial independence?

3. Major Life Transitions
   Life events like starting a business, retiring, or going through a separation can upend your financial landscape. An expert can help you navigate these changes wisely and avoid costly mistakes.

4. Big Decisions Looming
   Thinking of buying a home, restructuring debt, or building a long-term investment plan? A second opinion from an expert can provide reassurance and help you avoid missteps.

Finding the Right Professional for You

The good news? There are many ways to get help, and you can choose what works best for your situation.

• Comprehensive Financial Advisers: These experts look at your finances holistically, covering everything from cash flow to investments, insurance, and estate planning.

• Financial Advice Specialists: Need help with one area? Work with someone who specialises in tax planning, insurance, or debt management. These advisers will offer single-scope advice without providing advice on all areas of your finance.

• Money Coaches: Focused on habits, mindset, and everyday money management, they can be the perfect starting point for those new to financial planning.

The key is finding someone whose expertise matches your needs and whose approach aligns with your preferences. Whether you want ongoing support or a one-time consultation, there’s a professional out there for you.

Ready to Get Started? Let’s Chat!

Not sure if you need expert help or who to call? Wondering whether to keep DIY-ing or get some guidance?

I can help. Book a free 15-minute call, and I’ll help you figure out your next steps.

Together, we’ll assess where you’re at, what you need, and how to move forward with confidence.