Getting stuck living in a paycheck-to-paycheck cycle is an all-too-common issue — even for people making up to six figures. A recent study conducted by PYMNTS found that 53% of those who are considered upper-income — those earning between $50,000 and $100,000 — are living paycheck to paycheck. Read More: $1M Is No Longer the...
Financial planning involves much more than creating a budget, although that’s a great place to start. Your financial plan should mirror your life goals. It’s your best tool for improving your current financial situation and successfully reaching major, money-related milestones, like paying off all of your debt or saving $1 million.
When you plan your finances, the primary factors to consider include your job, family, retirement and health. Think about how those aspects of your life will affect your finances and your long-term savings and retirement goals.
Creating a financial plan is one of the smartest things you can do for yourself and your family. Turn to the online resources at GOBankingRates to learn how to create a financial plan and how to use it to improve your life.