Engaging in strategic financial planning can help you achieve
personal wealth. Whether you want to build a retirement nest egg, purchase a
vacation home, pay for your child's college education or purchase investment
property, financial planning is best way to reach your goals.
Keith Turner
QuickSilver Funding Solutions financial planning has more important. Unfortunately, many
people falsely believe they do not possess enough money to save for the future.
The truth of the matter is most people can set aside at least five dollars a
week. It's simply a matter of reviewing finances and making minor budget cuts.
People who are living paycheck to paycheck may want to
consider obtaining credit counseling. Although most credit counselors charge a
fee, there are several non-profit agencies that utilize a sliding scale to
adjust fees for people with low incomes. Depending on income levels, some
people can obtain credit counseling at no cost.
Many options are available to help people commence with
financial planning. The Internet provides a wealth of educational resources to
help consumers regain control of personal finances. Local libraries offer
numerous money management books, along with home study investment courses.
Keith TurnerQuickSilver Funding Solutions says first step of financial planning requires thorough
review of income and expenses. Most consumers have more money than they
realize, but often waste it buying unnecessary items. A simple way to determine
if you are wasting money is to track every expense for one month. Write down
every penny spent, than review to determine where expenses can be trimmed.
If you find you are spending $100 each month on coffee
drinks, fast food lunches, yard sale items and online purchases, consider
eliminating those expenses and placing that money in a high interest savings
account. Over the course of ten years, this small amount could turn into
$12,000 plus interest.
Financial expert, Suze Orman, suggests setting aside a
minimum of 10-percent of earned income prior to paying living expenses. Many
people feel guilty about paying their self first, but if you want to get ahead
in life you must learn how to include savings in your household budget.
One credible source for learning how financial planning can
help you become debt-free is Dave Ramsey. Ramsey is known for his no-nonsense
approach to debt management. His website is packed with debt reduction tools
and advice which can help anyone achieve financial freedom regardless of their
income.
Another great source for learning about various financial
strategies is through certified financial planners. These professionals can
help consumers achieve short- and long-term investment goals. They are trained
to help individuals be aware of negative spending habits and learn how to
implement get out of debt strategies.
There has never been a better time to begin financial
planning. The sooner you start, the easier it is to build wealth. Before you
dive in, take time to conduct research to determine which type of planning is
best suited for your needs. Then, create a savings plan and make a commitment
to stick with it!
