Having a financial plan is important for everyone regardless of their financial situation, but it is even more critical for individuals who are trying to rebuild after making a consumer proposal or filing personal bankruptcy. Dedicating time to financial planning can also help you protect the assets you have now and increase your wealth in the future.
Step one of any financial plan is getting rid of your debt. This can only happen if you spend less than you earn. A financial planner can help you balance your books so that you can start paying off debt sooner.
Identifying clear, achievable goals is a crucial part of anyone’s financial plan. Whether your goals are short-term (vacation, emergency savings, etc.) or long-term (retirement, RESPs, etc.), a financial planner can help you set out a plan to achieve these goals.
If you aren’t the “financial type”, you shouldn’t try to deal with your financial decisions alone. There are many financial professionals that are willing and able to help. Over the years we have worked with many Ontario Trusted Professionals in Financial Planning and can confidently recommend their services. You can find those professionals here.
