How to balance your life goals with your finances
(NC) You have completed school, landed a good job and are looking to move out of the family nest. Or perhaps you are recently married, have bought your first home and are now expecting a baby. Or maybe you are starting to think about your retirement plans. Whatever life stage you are at or whatever goal you are aiming to achieve, have you mapped out a financial plan to help you get to where you want to go?
November is Financial Literacy Month in Canada, an opportune time for people of all ages to improve their financial know-how to help plan for life's major milestones, like these:
• The options when buying your first home can be overwhelming, but knowing what you need and want in a mortgage, shopping around, getting pre-approved and making the right decisions according to your needs are just some of the steps detailed in the Owning a Home life event from the Financial Consumer Agency of Canada (FCAC).
• If you are expecting, the cost of diapers, clothing, baby equipment and child care can really add up. FCAC's Having Children life event and budget calculator can help you draw up a plan to financially prepare for a baby and ease the strain on your family budget.
• Whether we retire early or work well into our senior years, we all want to know that we will have enough money to retire comfortably. Early and careful planning is key. How much money will you need? What sources of income will you have? The agency's Planning Your Retirement life event offers tips and advice on these questions that you can use when planning your retirement.
All FCAC's life events, resources and information about financial literacy month are available at itpaystoknow.gc.ca/flm.
Word count: 288
Articles are provided free of charge. Articles appearing on web sites, must credit www.newscanada.com. Articles appearing in Print, must credit News Canada with (NC) at beginning of an article or – News Canada at the end. Any source/sponsor of the information quoted in the text must also be identified as presented. Images are only to be used with corresponding editorial copy. Usage of News Canada articles constitutes your acceptance of these terms and an agreement between you and News Canada.
Image Instructions - Note: Illegal to use without News Canada editorial.
To open/download image(s) used in this article, please click the following links:Click here for image file: «79133H.jpg»