The New Year is here, and one of the most important things parents and families can do is to begin setting financial goals. While setting financial goals is an important venture, I know it’s not as easy for some of us to make the informed decisions necessary to suit our needs and plan for some of those vital milestones many families will experience. If you are in the same boat, here are some practical tips to consider in your New Year financial planning.
A budget simply encompasses your obligations and the costs in relation to expected incomes. Setting a budget helps you to outline any such obligations and to follow through with any such planning procedures. A good budget covers every aspect of your financial spending and income all throughout the year.
Plan for important milestones
I’ve been working with COUNTRY Financial these past few months sharing tips on college planning and can truly attest to the fact that there are so many factors I have not considered when it comes to this. As a parent, we all want to ensure that our kids get the best education, but with college tuition rising every single year, it’s overwhelming to think of just how we can afford this. By the way – it’s never too soon to start! Here’s why!
Do Your Research
You don’t have all the answers and you’re not expected to. With so many resources available on the internet, this can also be quite overwhelming. COUNTRY Financial offers some really helpful resources with just a few simple steps to get started. Visit www.countryfinancial.com/simplesteps for ongoing helpful tips and links to useful calculators to help you towards achieving your financial goals.
Consult a professional
Last, but not least, you may also consider investing in the services of a financial expert. This is particularly important for your bigger financial goals, such as things like planning for college, buying a home, etc. COUNTRY Financial is dedicated to helping parents navigate through the various college planning options and resources and getting them started on the right track. Since so many mistakes can be made in the process of financial planning,, the smartest thing to do is to talk to an advisor about your options and let them help you come up with a feasible plan. Visit www.countryfinancial.com/simplesteps for ongoing helpful tips and links to useful calculators to help you towards achieving your financial goals.
Disclosure: COUNTRY Financial sponsored and inspired this post. As always, all opinions are mine alone.