If you’ve ever heard the term “financial planning,” you may have shrugged it off as something for businesses only and not something that you, as an individual, will have to worry about. The truth, however, is that financial planning is an important part of every individual’s life, no matter your income or age. Here at Guardian Financial Group, we want you to have a financial advisor to speak to whenever you need to plan for your future. If you’d like to schedule an appointment with us, give us a call today. If you’d like to learn about the importance of financial planning, continue reading.

Budget Planning

On the surface, financial planning may seem like a simple task. You make a set amount of money and then spend that money on housing, food, water, and all your other wants and needs. But once you break it down, it’s not always that simple. First of all, a lot of your income will go to taxes, health insurance, and a variety of other expenses, so it’s not always easy to know how much accessible income you will actually have after everything is all said and done. However, once you do know how much money you have leftover, you can’t just go spend it all recklessly. You need to take into account retirement, how you will invest, and ensure that you don’t spend too much entertainment and other costly expenses. Whether you have a low income or a high income, budget planning is crucial for people of all ages. Your financial planner will help guide you through this process and ensure that everything is accounted for.

Understanding Investment

Investment is another concept that is misunderstood by many people. Many people may think of something like stock investments when they hear the word “investment.” Although this is certainly one type of investment, it’s not the only. There are many other types of investments like basic savings accounts, bonds, real estate, mutual funds, peer-to-peer, and much more. This all may seem like complicated jargon at the moment, but after speaking with a financial planner, you’ll learn how to capitalize on these different opportunities and grow your income while reducing risk.

Financial Understanding

Another simple reason you need financial planning is to better understand finances. There’s a reason some people are able to save thousands every year while others are never able to save a single dime. Although a low income could certainly contribute to a lack of savings, it usually has more to do with a general lack of understanding of finances, saving, and investing. Your financial advisor will spend time ensuring that you know the basics and understand what options you have out there to help you save more money. Another reason to have a better financial understanding is if you’re preparing for a major life event that will completely change your financial situation such as a marriage.

Speak With A Financial Advisor

Financial planning is a crucial aspect of anyone’s life whether you’re someone with low income, high income; or you’re a small business owner, or owner of a large corporation. Here at Guardian Financial Group, we have 35 years of combined experience with financial advising. Our highest priority is to ensure that you have the skills and the know-how necessary to take on any financial decision and see your money grow over the months and years. We provide education planning, retirement planning, tax planning, insurance analysis, and much more. Give us a call today to schedule an appointment.