Most Americans never engage in the financial planning process. Especially in today’s world with so many unpredictable events, such as a pandemic or hurricane, it can be hard to think about planning for the future. However, not having a clear, detailed plan for your future financial success can increase your stress levels, anxiety, and fear of not having enough money to cover your basic needs.
According to the National Council of Nonprofits, about 21% of all nonprofits have an annual budget of $50,000 or less. With this in mind, maximizing the assets and income of the organization is critical, as every cent counts.
Did you know that half of all Americans would be unable to cover an unexpected expense this month? Unfortunately, financial planning isn't a hot topic for most people, but you can't afford to neglect this important aspect of your life any longer.
Seventy-five percent of Americans have no financial plan. From savings to paying off debt to retirement funds, many are just winging it and hoping for the best. Especially when you’re in your 20s and 30s and just starting out on your financial journey, creating a financial plan and sticking to it can feel scary and overwhelming.
Fraud scams take more than 5% of a business' overall revenue. If you're in the process of financial planning for your small business one thing you need to do is protect your business assets.
As in your personal life, having a good handle on your business finances can make a world of difference. Good financial standing is beneficial to you professionally and personally as it reduces stress and puts you on the right path towards financial success.
By the time you turn 35, you probably have chosen a career, own or rent a home (house, apartment, condo, etc.), and have a better financial situation place than when you were in your mid-twenties. With a steady income you can now set your sights upon building a solid financial foundation for the future.