Steps In Personal Finance
1 30 Min DISCOVERY CALL
1 30 Min DISCOVERY CALL
1 30 Min DISCOVERY CALL
The initial conversation between myself and you, designed to assess your financial needs and determine if the company's service is a good fit.
2 SETTING UP a BUDGET
1 30 Min DISCOVERY CALL
1 30 Min DISCOVERY CALL
Basically, a budget is a spending plan that maps out the amount of income versus the amount of expenses during a specific period of time. Many bills such as housing costs, utilities, subscriptions, and more are due on a monthly basis so the typical budget is prepared for an entire month.
3 DEBT PAYDOWN PLAN
1 30 Min DISCOVERY CALL
3 DEBT PAYDOWN PLAN
- Debt Snowball: Pay smaller debts first for quick wins.
- Debt Avalanche: Focus on high-interest debts to save on interest.
- Increase Income: Take extra jobs or monetize hobbies.
- Debt Consolidation, Refinance Mortgage, HELOC
4 SAVINGS ACCOUNT
4 SAVINGS ACCOUNT
3 DEBT PAYDOWN PLAN
A high-yield savings account is a savings account that pays a higher interest rate than traditional savings accounts.
5 INVESTMENT PLAN
4 SAVINGS ACCOUNT
5 INVESTMENT PLAN
- - set goals
- - lump sum and or dollar cost averaging
- - types of registered accounts ie FHSA, TFSA, RRSP, RESP
- - non registered accounts
- - open up a direct investing account with bank or 3rd party (Wealthsimple, Interactive Brokers, Questrade)
- - compound that investment for years
6 TERM INSURANCE
4 SAVINGS ACCOUNT
5 INVESTMENT PLAN
If you are married and have kids it might be a good idea to carry Term Insurance just in case something happens to you or your spouse.
Is a type of life insurance which offers life coverage for a fixed duration or 'term' usually 5,10,15,20,30 years.
