It’s Financial Literacy Month! Imagine if most folks took their free time over the course of April and used it to improve their overall level of familiarity with and planning for the major parts of their financial lives? Now that would be revolutionary.
Just what would it be that they would be spending their time on? Here is a breakdown of the major components of a well balanced financial plan. How many of these areas do you feel confident about? We hope you feel great about all of them of course but if not don’t despair, there is help to be had!
Financial planning is the process of systematically addressing these areas of your financial plan. Some folks use their own skills and research abilities to formulate the answers to the questions relating to each of these endeavors, others work with advisors to help them develop a big picture overview and specific recommendations or action items and some do a bit of both, delegating the trickier parts to professionals and working through some of the other areas themselves.
Whichever camp you find yourselves in we applaud you for your efforts. If you haven’t gotten started here are some resources to start you on your way:
Finding a Financial Advisor
Learning about money