Planning for your financial health today and in the future is now more critical than ever. You may be single and just starting out, beginning a family, or headed towards retirement.  No matter where you are in life, preparing for your long and short-term financial goals is critical.

When you are struggling financially, it can be hard to examine your debts and monthly expenses and face the truth about your situation.  However, by creating a budget, you can make decisions which support your fiscal well-being. Take the time to thoroughly evaluate your income, bills, and savings, and create a realistic plan for how to stay out of debt while meeting your obligations.

While it may feel that every dime you make needs to go to pay for your bills and necessities, it is vital that you devote something towards savings on a regular basis. If the idea seems intimidating, you can start small and build up to more substantial savings. When you have savings in place, you will have funds to cover unexpected expenses. One option is to have a certain amount drafted from your main account each month and placed in a separate one which you do not regularly see or access. If you have not already done so, open a savings account and commit to making routine deposits.

An expense which can set an individual or family back is spending too much on vacation. While taking time to rest and relax on holiday can be positive, it is essential that you have the means to afford the trip. Otherwise, you will be adding the stress of burdensome debts to your life. Develop a savings strategy for any anticipated vacations. For instance, you could pay the trip off through a travel agency program throughout the year and save for any additional expenses.

Planning for your long-term goals such as retirement and healthcare needs to begin as soon as possible. If you have a pension plan or 401(k), review them as well as any other potential income sources and begin calculating what you will have and need when you are no longer working. Additionally, you should consider how you will start paying for healthcare coverage including Medicare co-pays and long-term care costs. If you are struggling with debt, planning for today and tomorrow can be difficult. We have experience helping clients manage their obligations so that they can set and reach their financial goals. Please contact us online or by phone at   517-459-9518  if we may be of assistance.