In a world of tight budgets and economic insecurity, personal financial software can be an effective tool in helping you reach your goals and achieve financial security.
It is astounding to realize that, despite the abundance of advisers and programs available, statistics show that only 10 percent of Americans have written a financial plan.
Most people blame the expensive fees associated with hiring a professional financial planner; however, failing to build and follow some type of program is often a main cause of empty savings accounts and insufficient retirement funds.
Success depends on you being a wise money manager, and one of the first important steps is to find personal financial software that will make do-it-yourself planning both easy and affordable.
You can often purchase good online financial software for less than $100, and considering the benefits, it is definitely a worthwhile investment.
Why is Writing a Financial Plan Important? It is difficult to be a wise steward of your money if you have no idea where it is going or how much you are spending.
Simply depositing your pay check and hoping for the best will not lead to financial success or security.
Financial planning is important because: 1.
It helps you discipline your spending habits.
Learning how to make good financial decisions, avoid bad ones, and to control irresponsible or unnecessary spending will help you track the movement of your money and become accountable for your purchases.
2.
It helps you establish financial goals, both immediate and for the future.
A goal-focused person is more likely to achieve success than someone who travels through life with no sense of purpose.
3.
It helps you prepare for retirement, your children's college fund, or the purchase of a home.
4.
It helps you define and meet your insurance needs at each stage of your life.
5.
It helps you create a plan that will allow for the elimination of credit card or consumer debt, and the ability to limit or avoid future debt.
6.
It helps you design and update an estate plan.
7.
It helps you build a savings account and delegate money for wise investments with high rates of return.
8.
It helps you organize and track your accounts, and know your balances at all times.
According to the U.
S.
Department of Labor, a very high percentage of adults over the age of 65 are inadequately prepared for retirement, causing many to depend on financial assistance.
Financial security in your senior years begins with wise planning in the early stages of your adult life.
Wouldn't it be wonderful to become financially secure so that you don't have to worry about money? Without a clear financial plan it is difficult to guarantee a strong, secure future, so begin the process of writing yours today! If you want to avoid the high costs of a financial planner, personal financial software is an ideal tool that will help you develop a financial plan designed specifically for your needs and tailored to meet your goals.
Many programs are complex and difficult to follow, so take the time to shop around and find software that is simple to use and easy to understand.
You will want to find something that requires no installation or downloads, has great online support, and clear instructions.
Good financial software will also provide tutorials on the importance of personal finance, answer frequently asked questions, and educate the user about basic terminology.
Personal financial software is a practical and beneficial tool that will help you keep all your bills and payments organized, map out an individualized plan for current and future success, and keep you accountable and motivated to following the right path.