Comprehensive Wealth Management
The current pandemic is a generational event that has caused many to reflect on their financial situation and look closely at their financial habits. According to a recent poll conducted by the National Endowment for Financial Education (NEFE), 88% of Americans say the COVID-19 crisis is causing stress in their finances. These current obstacles create an opportunity for all of us to improve our financial literacy. The greatest generation of savers this country has ever seen was a product of the great depression. The great depression helped shape that generation’s perspective on money. It created a desire for financial security and financial literacy.
We are here to help you every step of the way. We have also partnered with some great allies that will be assisting us with improving your financial situation. Consider clicking the links listed below for further information.
The number one problem in today’s generation and the economy is the lack of financial literacy.
– Tara Lewis, CEO
We will teach you everything you need to know about financial literacy.
Financial literacy is critical because it equips us with the knowledge and skills we need to manage money effectively. It’s one thing that will impact almost every aspect of your life, yet many people do not know they should, and even those who do often don’t share it with their children. So, what is financial literacy, and what does it entail?
Budgeting
Creating a budget and living within your means is one of the most fundamental aspects of staying on top of your finances. Budgeting is planning out how one’s monthly resources get allocated. Effective budgeting promotes accountability and increases awareness of spending patterns, thus minimizing excessive or unnecessary spending.
Saving
Saving is one of the most important aspects of maintaining a healthy financial situation. Most of the lofty goals Americans have in life involve big financial purchases. Buying a house, having a family, and traveling are just a few examples of common goals in life, but accomplishing these things is much more difficult without saving.
Investing
Successful investing requires learning how to make your resources work for you to achieve your financial goals. To invest effectively, you must understand how to invest (e.g., stocks, bonds, commodities), the inherent risk/reward, and the importance of diversification.
Understanding Credit / Managing Debt
Your credit score is your financial shadow. It follows you around throughout life like a six-week-old puppy and can haunt or help you, depending on your history. Effectively managing debt is as crucial to establishing a good credit score as is understanding the difference between good and bad debt.
Paying Bills
Although seemingly rudimentary, it’s essential to have a routine established to pay your bills and pay them on time.
$$$
We’d Love to Help You With Your Financial Plan
The content contained in this article represents the opinions and viewpoints of Cardan Capital Partners & TML Credit Consulting only. It is meant for educational purposes and not meant for consumer trading decisions. All expressions of opinion are as of its publishing date and are subject to change. There is no assurance that any of the trends mentioned will continue in the future. Market performance cannot be predicted, so nothing in our commentaries is ever meant to provide any guarantee of future results.