The Basics of Financial Planning

The Newday Team - Newday

If you’ve ever wondered about where to start for organizing your finances, we’d like to share an outline of how to begin financial planning.

1. Take some time to look over your finances.

This is important for determining your financial situation as a whole, such as if you need to consolidate debt to pay it off more easily.

2. Put away 3 months of money into a separate savings account.

It’s always good to have emergency money, because you never know what life will throw at you.

3. Make a retirement plan as a part of your investment account.

We recommend having a long-term investment strategy in place so you’re able to start growing personal wealth sooner.

4. Deposit 10% to 15% of your monthly earnings into your investment account.

An automatic deposit from your paycheck each pay period is the easiest way to do this so you don’t have to think about it.

Questions? Email us at [email protected] and we’ll respond to the best of our abilities. 

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