What Issues Should I Consider When Starting Out Financially?
Many of my clients are parents who are raising children entering adulthood. While parenting is not a core focus area in financial advisory services, we are uniquely situated to provide valuable support by helping teach children to become responsible when starting out financially.
Financial literacy is fundamental to financial independence and prudence. However, financial topics and skills are often omitted from traditional school curriculum, leaving the teaching responsibility to parents. In addition to leading by example, you may wish to engage your children in structured conversations regarding financial responsibility. To help you guide these discussions, we have created this checklist to address many of the planning issues that young people face when first starting out financially. It covers basic financial topics, including:
- Goal setting
- Cash flow management
- Saving strategies
- Credit and debt management
- Risk management
In this day and age, it is more important than ever to learn how to not only make money, but manage your money as well. Proper planning can save you years worth of financial headaches down the road, and direct you towards peace of mind. While the best way to make sure you’re on the right track is to work with a certified financial planner, learning techniques on your own is also beneficial. Use our checklist to make sure you consider the right issues when you or someone you know is starting out financially.