Chances are, if you are here, you’ve heard that getting your personal finances together will help you in the future.
So, what is personal finance?
Investopedia defines personal finance as “a term that covers managing your money as well as saving and investing. It encompasses budgeting, banking, insurance, mortgages, investments, retirement planning, and tax and estate planning.”
That means, with proper care, it will help you be able to afford the things and experiences that you want for yourself and your loved ones, whether during your working years or after retirement.
I know, it can be a very dry topic, and for many, downright anxiety-inducing. But it doesn’t have to be. We’re very lucky that there is an infinite amount of useful resources today to help, from budgeting tools to investing apps to retirement calculators. Whether you work with a financial advisor or decide to go it alone, there are tools out there for you to increase your financial literacy and take control of your financial future.
Below are the main areas of personal finance that will help you decide what part(s) of managing your money you would like to focus on in the short and long term.
- Income & Budgeting
- Savings
- Credit (including your home, student or auto loan)
- Insurance
- Investing + building wealth
- Retirement planning
- Tax + estate planning
Your entire financial future is dependent on understanding the basics of these 7 areas, and I plan to make them as easy to understand as possible. Stay tuned as we explore these concepts and help get you ready to take control of your financial health!