Category: Financial Assessment

Components of a Financial Assessment Part 1 listed the beginning of understanding your own financial situation. The first steps include determining your Assets, Liabilities and Net Worth. Next, list your income and expenses. You need to know how you will track or record your financial transactions. Then, begin building your budget-the key to controlling your money and financial future! After understanding these ideas, here are a few ideas for your next steps! Do you have a will?                 Having an up to date will is a great gift to give your loved ones.  You know you need one.  Begin to think about your will and the directives that you would have for your assets.  Take the steps to create an online will or talk to an attorney to begin the…

In order to start on the journey to Financial Peace of Mind, you first need to determine where you are. This means that you need to assess your financial situation. This might seem scary, but no matter how good or bad the situation, the more you understand the situation, the easier it will be to improve it. You may have heard the saying that a problem understood is a problem half solved. After completing a financial assessment, you will have taken the first step to understanding where you are with your money. You can then set realistic goals for you and your money Today, we will look at fundamentals of a financial assessment, and in the next blog post we will discuss other aspects of a personal financial assessment that…