‘’Behind every good business is a great accountant…’’
What is financial planning? How can it help your business? And why is it so important?
If you have goals you want to achieve and visions of where you want to be financially and personally, financial planning is the first step to having your dreams become a reality! Creating a plan and reflecting upon your income and liabilities, will help you move forward towards a life of financial freedom.
For those of you who have not yet heard much about financial planning, we are going to uncover the secrets of how fantastic this can be for both your work-life and personal-life…And this is only the beginning!
If you are new to the world of financial planning, here are 3 secret ways to promote financial freedom in your life and ways to get on track as soon as possible!
1. Begin your financial planning journey today!
The first step of financial planning is knowing that you can start at any time. It is best to start now, regardless of how old you are. It doesn’t matter what your income currently is or what you do for a living, it’s just about ensuring that you set aside money for you each month and begin to plan financially for retirement.
Starting to plan as soon as you can will be in your favor, as planning long-term helps you accumulate more overtime. More specifically, when you are planning long-term goals, you want to think about the next 3 to 5 years from now. So, now’s the perfect time to get started!
2. Save 10-20% of your salary.
The truth is, we all cannot predict what the future will bring, and saving is a way for you to feel more secure and set in case of any unexpected circumstances. It is not about how much money you make, it is about your relationship with money and what you do with the amount you have.
Saving will help you avoid getting into debt and will be a way for you to have money in case of an emergency, or to invest in your business, which will bring you more money in the long-term.
3. Always, always, always stick to a budget.
The final most important step to consider in regard to financial planning is the importance of creating a budget and sticking to it!
Budgeting is the best way to create a plan and move towards financial freedom. This will also ensure that you’ll live without huge debts and be able to control your spending. So, proper financial planning can get you to where you want to be, without the hassle and stress along the way…
Interested in learning more? ERPS Group is a one-of-a-kind financial firm located in Metro New York City that offers a differentiated approach to helping people to achieve enduring financial results. They offer effective strategies that help to bridge the gap between financial freedom and personal or business goals.
Remember, “It’s All in Your Hands!”