What Is A Financial Planner?
You may have wondered at some point: what’s with all the financial titles? Is a financial planner different than a financial advisor?
Should I DIY My Finances?
Do-It-Yourself. DIY. I love to DIY different things to save money; a haircut, an oil change, etc. Many of you probably have something or multiple things in your life that you have been DIYing for so long that you will never pay for that service again. Like anything, you can also DIY your finances. You…
What is Financial Planning?
Financial planning is not just about managing money but involves an individual’s life, dreams, and values. It traditionally includes retirement, investment, protection, tax, and estate planning. However, recognizing the human aspect is key – financial plans should consider both mathematical and emotional factors. For comprehensive financial planning, incorporating life circumstances in addition to mathematical calculations is crucial.
Planning For Emergencies
An “emergency fund” is a set pool of savings for unexpected expenses like job loss, car repairs, or health emergencies. Everyone needs one, but the amount varies based on individual circumstances and typically ranges from three to six months of expenses. The fund ideally is kept in a separate high-yield savings account. The purpose is to be able to meet unexpected expenses without resorting to credit, thereby avoiding high interest charges. Building this requires commitment, discipline, and long-term foresight.
What Should I Look For In A Financial Planner?
Choosing the right financial planner involves critical considerations. It’s important to select a planner who is transparent about their all-in fee and discloses any hidden charges. The services offered by the planner should be comprehensive, addressing all your financial goals. Trusting your instincts is essential; the planner should make you feel comfortable, confident, and empowered in your financial decisions.
