Personal Financial Planning

Figuring out where you will be financially years from now is hard to imagine. There are always the things that you plan for, but there are also the things that happen that you have not planned. Having a sound financial plan and goals can help alleviate the burdens of the unexpected.

I’m currently 34 years old. I have a great paying job and I am able to provide for my family and save for our future. This has not always been the case. When I started college, I wasn’t properly educated on the importance of finances and money. I quickly racked up close to $4000 in debt due to credit cards. I used these cards for everything. No one had ever explained to me how this debt would affect me. By the age of 19, my parents forced me to get a job to pay off this debt. I started working at State Farm at that time. Over a matter of 3 years, I was able to pay off these credit cards. I had to learn the hard way the importance of having financial goals and the proper use of money.

Today my goals are much different than when I was 19. My short term goals include paying off some existing credit cards, continue to build an emergency fund and save for a Disney vacation. All of these goals are obtainable, realistic and I plan to set them annually. My Intermediate goals are to pay off student loans and pay off my car loan. My long term goals are to save for my son’s college education, build retirement account and pay off home loan.

It is important to know where each dollar is spent. I’m hoping that having a stronger financial plan will help me with this. I want to be able to plan for 30 years down the road for me and my husband’s retirement. I want to be able to have the flexibility at that time to travel, hang out with family and friends and not have to work.