In the wake of COVID-19 and the pandemic, inflation has made the cost of living skyrocket, and now more than ever, families need to take steps to invest in their future and prepare as much as possible, especially if they have little ones to provide for.
Speaking to a financial representative can go a long way toward answering any money questions you may have, including: “Do I have a 401K and if so, how much should go in it?” or “What is a Roth IRA, and do I need one?” or “How much should I be putting in savings every month if I feel like I have nothing left over to save?” or “I need to make a budget? That means spending less money, right? Doesn’t sound fun.”
“Debt is a big stressor. It’s never too late to take control of your situation. You didn’t get there overnight, so there are no quick fixes,” Tammy says. “It takes time and commitment to make the changes necessary to eliminate debt.”
Behind all the calculations and the paperwork and the financial jargon you think you can’t understand (but actually can) is genuine, practical advice you can put to use immediately, and it’s much easier than you think to get going.
If you’re piled under more than just your laundry and you’re ready to get out from under your financial situation, it can be done. Raising a family is hard enough. Adding the stress of money management can push you over the edge. Take the first step to get help, even if your situation feels beyond resolve.
“A coach can alleviate the fear, helping you know that you can take control,” Tammy says. “They don’t teach this stuff enough in school. You are inundated with credit card applications and ‘buy now, pay later’ deals. Young adults need to know that the first step to adulting is getting a plan for their finances.”
By learning to live within your means, coming up with a financial road map, and being ready for a financial emergency if and when it pops up, you set out on a path that becomes less daunting by the day. Beyond that, you show your kids what it looks like to save, to know where your money is going, and to set a budget and stick to it. As parents, we know that our kids learn best by example.
