Financial Planning for Young Families
Typically people begin to think about their finances once they get married, or have children. Our money really starts to matter when there are others for which we are responsible. But what do we do with it? How do we plan well for our family? There is so much information out there, so how do we navigate it all and make the best decisions for ourselves and our family?
Financial Planning for Young Families walks through how to practically build a strong financial plan for yourself and those you care about, including protecting yourself with insurances, organizing today's income, dealing with debt (including mortgages) efficiently, planning for the future and for our children's future in 4 individual sessions.
These sessions are created to work individually, but the series is structured to build upon the previous session, making it most beneficial to be taken in as a whole.
The session outlines can be found below.
Session 1: Protecting your family's income and future
Next Session: Tuesday July 10, 2018 from 7 - 830 pm @ Sam's Place. 159 Henderson Hwy. Wpg, MB.
The foundation on which to build the rest of your financial plan - Personal Insurances.
Most people view insurances only as an expense, but they are an investment in your family and your future. In this session we will discuss each of the personal insurances, why they are so important, how they work, the benefits of having them, and where, and when to start.
This session sets us up for the rest of the series, as we can plan much more safely and realistically when we understand session 1.
Session 2: Organizing today's income
Next Session: Tuesday July 17, 2018 from 7 - 830 pm @ Sam's Place. 159 Henderson Hwy. Wpg, MB.
In this session we tackle how best organize today's cash flow to ensure that our money is working for us and that we have extra money at the end of every month to put towards the future. We'll cover ways to deal effectively with debt including mortgages, more efficient house payment strategies. Finally, we'll cover how to create an effective budget.
Session 3: Saving and investing for tomorrow.
Next Session: Tuesday July 24, 2018 from 7 - 830 pm @ Gateway Professional Centre. 875 Gateway Rd.
Now that our budget is working and we have money to put away for the future, we can discuss wealth building strategies, and planning for the future. Where and when do we start? How much do we put aside? What are good saving and investing strategies? (and yes, saving and investing are different. We'll talk about that too.) Registered / Regulated Plans - how do they work and are they our best option?
Session 4: Preparing for our children's future.
Next Session: Tuesday July 31, 2018 from 7 - 830 pm @ Gateway Professional Centre. 875 Gateway Rd.
Many of us want to take care of our children and help them out with their future. Once we've got our own finances working for us, we can start thinking about our children. In this session we will discuss protecting and planning for our children's future. We'll answer questions like: Are insurances worth getting on our children? What insurances are there for children? When are they a good option? Is an RESP the best children's savings tool? What are the other options and how do they work?