Financial Planning for Beginners

It is easy to get excited about starting your career and enjoying the fruits of all your labour. When you are first starting out, you can quickly become entrapped in buying new items like clothing, cell phones, cars, even a home. Now is not only a perfect time to enjoy your youth, but it is also a very good time to take advantage of the years ahead in your financial future.

Financial planning does not have to be complicated or scary. You can take simple steps to ensure you meet your monetary goals. Decide now to prepare for your future, including your retirement. When you take a moment to talk with a financial advisor at TSG Insurance, you can get a head start by corralling your money and securing your financial destiny. Your future self will thank you!

Tips for Protecting Your Future with Financial Planning

Avoid putting off until your 40s what you can accomplish now. Take your fate into your own hands when you consider these tips:

•    Set Short and Long Term Goals – Every bridge built started with a plan. Building a firm foundation for your financial future includes clarifying some short and long-term goals. Short term goals can include paying off debt or saving for emergencies. Long-term goals include saving for a down payment on a home or for retirement.
•    Pay Off Debt – Carrying a credit card balance from month-to-month can quickly eat up your income through finance charges. Only charge what you can pay off at the end of the month. If you cannot pay it off, stop using the card. Instead of trading in your car for a new fancier model, pay it off and keep it.
•    Set a Monthly Savings Goal – Having an emergency fund in place helps you get through the bumps in the road that can occur. When you establish an emergency fund or rainy day fund, you avoid incurring additional debt that effectively steals money from your future. Determine for your lifestyle a good monthly savings goal, and stick to it.
•    Know the Difference Between a Need and a Want – A new cell phone may be nice to have, but do you actually need it? On the other hand, is keeping the lights on for the next month a want? It is okay to splurge once in a while, but over-indulgence can impede your financial plans.

Talk with a Financial Planner at TSG Insurance Today

Today is the best time to take control of your financial future. One of our professionals at TSG Insurance can assist you with different financial planning vehicles. We remember what it is like to be young and ready to face the world head-on. We can help you achieve your dreams.

Contact us online, and we will set up a time to meet. Feel free to call us toll-free at 800-830-9423, and we can schedule an appointment at one of our locations in Medicine Hat, Brooks, Bassano, Edmonton, or Calgary.