October is Financial Planning Month

A financial plan is like any map; it helps you get where you want to go. Where do you want to go?

Without an understanding of your financial goals, it's hard to figure out how to manage your money to get what you want. First, you need to understand how you feel about money and how you want to use it to achieve your goals. Do you want to save to get an an education or buy something like a car?

A financial plan can help you get your money aligned with your life prorities and achieve your goals. Start with the first two elements of a successful financial plan: budgeting and savings and investing.

A budget let's you take control of your money by spending it only on what's important to you. No needless spending. Saving means paying yourself first. When you get paid, deposit your allowance or check into savings account instead of spending it without thought. Once you are committed to savings, then you can create an investment strategy that works for you. You'll assess your risk tolerance and invest enough to reach your goal.

Keeping reading for more information on these topics and others.