It’s never too early to start saving and investing. In fact, the earlier you start, the better. And one of the best ways to make this happen is by creating a budget.
EFS Advisors will help you get started, no matter your stage in life or your financial situation. Our goal is to meet you where you are today and make plans to get you to where you want to be tomorrow.
By saving today, you harness the power of compounding interest. The following example provides an illustration for why starting an investment plan early is so beneficial. Additionally, here are some other things to consider as you think about your retirement plan:
Hypothetical example intended for illustrative purposes only. It does not represent the performance of a specific investment or actual account.
Budgeting is the process of creating a plan to spend your money; a way to balance your expenses with your income. This spending plan is called a budget, and allows you to determine in advance whether you will have enough money to do the things you need to do or would like to do.
Why is Budgeting so Important?
Many people don’t realize they spend more than they make, and when expenses are greater than your income, you have a problem. Since budgeting allows you to create a spending plan for your money, it helps to ensure that you will have enough money for the things you need and the things that are important to you. Following a budget or spending plan will also keep you out of debt or help you work your way out of debt if you are currently in debt.
At EFS Advisors, we’re here to help. With a budget plan comes peace-of-mind and an accurate knowledge of how much you can devote to savings and investments each month. We will work with you to help answer the following questions: