Did you know that it is Financial Literacy Month? Massachusetts Mutual Life Insurance Company is wanting to help is all to better understand our finances. You want to secure your financial future and protect those who matter most to you and MassMutual wants to help! Most of us just need to take a few small steps! Here are a few tips that you can do:
- Identify your financial goals.
Are you saving for college? Are you saving for Catholic High School (like we are!)? Are you saving for Disney vacation or the dream cruise you have always wanted. The first step in understanding your finances is to identify your goals. How else do you know what you need? - Get organized.
You need to know what you are spending where. This will be the beginning of your financial strategy. - Use tools to help you project your savings needs.
Whether it’s calculating how much you need to save for your child’s college tuition or planning for your retirement, look for calculators online to help you. These online calculators will guide you to what you need to be saving. - Consider your most valuable asset and how it affects your future.
Your home? Your business? Your ability to work? What is your most valuable asset? Have you considered your income and how it affects your well-being? Exploring disability insurance can go a long way to ensure your family is protected if you were too sick or injured to work. When Bill graduated from college, he came down with food poisoning. That ended up being a week hospital stay and he was off work for 8 weeks. (Yes, food poisoning can be that bad!). Disability insurance was a life saver for us at the time. - When it comes to your finances, you need a strong team to assist you with important information and decisions. Working with a financial professional will help keep you on track and informed.
How is your financial literacy? What steps do you need to take still? What are you doing right?
This is a sponsored post written by me on behalf of MassMutual.
We’ve pretty much got all of our ducks in a row over here. We keep track of expenses, have a savings account, and budget well.
Thanks a lot for this post. I thought we were all squared away, but we never thought of disability insurance!
I don’t even want to think about finances! But, they are a a part of life, unfortunately. So, I guess I need to heed some of your advice here. Thanks!
Setting financial goals is always important. You can’t really achieve goals if you don’t really know what they are.
It’s important to set finanical goals. Knowing how much you need to save by when is important.
I need to follow these tips. I definitely need to work on the organization part. Finances are our toughest obstacle.
This is great advice. It’s always good to review your financial goals.
This is important advice. Setting financial goals and sticking to a budget are key.
There are some steps I could take. I used to have a great foundation, that all changed when I moved. Now I’m way behind.
I’ve been doing a lot better since making an effort to actually understand my finances. Creating a Spreadsheet with all your expenses and keeping your receipts from all Purchases is highly recommended
Im all on board… just tryin to get my other half to do the same.. great article
Sound advice here. I do think it’s great to have a plan and goals too.
Planning is the key to financial security. We planned for many many years and now we are living the good life.
This is really great advice and I enjoyed your post. I do pretty well with our finances and being organized.
These are great tips. We’re pretty good about our finances but definitely need to get better organized.
We have financial goals which we wouldn’t be able to achieve if it wasn’t for my distinct planning, budgeting and managing! These are great tips!
Thanks for these lovely tips. I’m always looking for ways to save. This has been helpful.
It is so important to talk about financial matters AND to to teach your kids about it! I wish I had learned more when I was younger.
I would have never thought of disability insurance either. Just when you think you know, right!
This is really great finances tips I’ve ever seen, I have financial goals and thank you for sharing this great tips from you.
We budget and have a checks and balances system. I agree that planning ahead is important for finances.
Planning for finances is never really taught when we are young, but it’s so important to getting off on the right foot and staying there! Now that I’m 40, I’ve finally gotten a handle on our finances, but it’s been a long road!
We have a few financial goals and we are working in achieving them. I know that I will try to help my kids but they are going to have to pay for their own college expenses. I did when I went to college.
I definitely need to find a way to make sensible financial goals before I even have a family, great post.
Planning for the future is so important. This gave me a lot to think about. Thanks!
Helpful tips! It’s important to set goals and prioritizing what’s important.
Financials are always a tricky thing for us! I think the key is to find a system that works well for you and stick to it!
My financial literacy is definitely lacking. I need to work on that. Thanks for all of the info.
Good list. We are finally at a point to relax a little.
I always put a little away each month, you never know when something will come up and you need the extra money!
Thank you so much for the info. Being financially responsible and well informed is so important!
My husband has an insurance but I don’t. Thanks for thise information. We use USAA for all our finacial stuff, they even assigned us an advisor.
Kiddo is 10 and thankfully she has a college fun already set up. She has a fund from her mothers biological father who passed away a few years ago and she has a fund set up that will pretty much cover 4 years from my husbands mom. As for me, I am just trying to come up with a way to pay my own student loans. LOL
Our finances are important and we need to learn to respect finances as we respect other areas of life.
This is a great post indeed and I really have check out MassMutual. I have nothing prepared for my future except a lil retirement I will receive at age 65. Thanks for sharing.
Being organized had to be one of the top tips I feel! You have to constantly stay focused and on top of all finances http://www.parentinghealthy.com
I have to admit I’m financially illiterate. But I know this is not good, at ALL. I’m going to look over these tips, thanks!
Great tips!! I am solo bad at all things finance, I am definitely a spender, not a saver!
Finances can always get so tricky. These are great tips to remember when working with them! Thank you for making the crazy world of finances a little bit easier!
It’s important to create a financial plan so you can think about the future. I am loving these simple ideas to get started!
I try my best to be financially savvy. Saving for college for three and retirement plus a rainy day are always on my mind.
I am very lucky to have a brother in law that is an accountant. He has been very helpful to me with our financial situation.
We are trying really hard to get control of our finances. these tips will help us!
Finances have never been a strong point for my husband and me so we relay heavily on what we can find online. Calculating our debts and balancing our checkbooks regularly have been a big help in getting us on the right path.
Great info! My husband is a financial professional, so he’s working our retirement like it’s nobody’s business. Thankfully his company has some really great benefits to prepare you for retirement.
I had no idea it is the Financial Literacy Month. Thank you for the info and thank you for those tips. They would be really helpful.
I’m lucky, my husband is extremely savvy when it comes to finances and he keeps us on a great budget that lets us save while being comfortable. Thank goodness! lol, I’m not as savvy at times. 😉
Thanks for sharing this great financial advice! I can be such a mess when it comes to planning my finances. Your tips will really help me!
I’m in the process of paying off my debts. I need to get more organized though, thank you for the reminders.
I’m so thrilled at the progress my husband and I have made with setting financial goals. Also love building passive and active sources of income! ^_^
My other half is my money saving man. He is so organised when it comes to our finances it’s unreal!
Even though I’m retired I still don’t have a retirement fund per se. I need to get on the ball for that.