Financial Planning Resources help people manage their money. They can include tools and calculators for budgeting, debt management, investing, savings and retirement planning. They can also offer guidance on financial safety nets and navigating economic challenges. These tools can be found online and through financial planners.

Financial planning helps you see the big picture and develop an action plan to reach your goals. This is not a one-time process, but a continuous effort to manage your money and reach financial success. The process can be broken down into several stages, with each stage building on the previous ones to create an ongoing financial management strategy.

Financial Planning Resources for Smarter Investments

One of the first steps in financial planning is to look at your current spending and revenue streams. You need to determine how much money you’re making, and how much you spend on things like housing, utilities, transportation, and insurance. This step can uncover possibilities for cost reduction, which is always a good thing.

Another part of the financial planning process is to establish a savings plan and set goals for future spending. This helps you avoid debt, and allows you to build assets. The last step is to establish a financial safety net, which can be done by setting aside emergency funds or by purchasing health insurance.

Some of the free financial planning resources available online include calculators for budgeting and saving, debt repayment and retirement planning. Other resources are more specialized and provide insights into specific areas of finance such as tax planning, saving for college or home improvement projects. Some of these online financial planning services offer virtual access to human financial advisors, who can help you with more complex questions. Others focus on automated investments through robo-advisors.