What Are Your Financial Goals? MassMutual Can Help With Your Financial Literacy
Last Updated on August 8, 2020 by Janell
This information is brought to you by Massachusetts Mutual Life Insurance Company. All opinions are my own.
This is an exciting year for our family. For the past 11 years we have been renting a house. Every month we have been paying down someone else's mortgage. We are finally at a place where we are going to be able to buy our own home. We will be able to do anything we want to this house because it will be our house!
Owning a home is a huge financial commitment. You need to be prepared to pay for all the things that come with owning a home. But first you have to make sure you are financially stable enough to go through the home buying process.
Did you know that this month is Financial Literacy Month? I have been doing some research to help us achieve our long and short term goals and I came across Massachusetts Mutual Life Insurance Company. They are there to help us take small steps to better understand our finances so we can secure our financial future and protect those who matter most.
MassMutual has the resources we need to help us achieve our financial goals. On their website, they have tools and calculators, videos and articles to help increase my financial knowledge. I think this is one area of my life that I can always use some great advice.
Our short term goal is save up enough money for a down payment. The first we need to do is to make a budget. This is a really great way to see where you can cut out unnecessary expenses or show you where you need to be investing more of your money. It may even help you to talk to a financial professional.
Writing out our long and short term goals will help us achieve our goals. I am much more accountable when I actually write it out. I don't want to strain our budget but I want to be responsible with the money we have.
My long term goals include planning for my kids to go to college and to save up enough money in our retirement account. MassMutual has a very helpful College Savings Calculator and Retirement Planning Calculator. Their website is a wealth of knowledge with information about life insurance and disability insurance. You are never too young to start considering these options for you future.
During this time it is also a great way to be an example to our children. I want to Help my family be smart about finances, so they can build a strong future. We want to do things like setting up a short-term savings plan. They already receive an allowance, so we want to encouraging them to add to their savings accounts when they have money to spare, from birthdays, allowances or loose change around the house.
What are some tips you are using to increase your financial literacy?
This is a sponsored post written by me on behalf of MassMutual.
Great insight! I need to work on planning my financial future 🙂
My husband is an accountant, so we have a pretty good handle on our finances 😉
We have always been savers. What we're working on now is college savings!
My financial goals? I want to save more. We have no debts, but we also want to move asap. After that, save save save!
It's so important to take care of your finances. I'm glad to know there are some great resources out there.
It's good that you are making plans for your financial future. I need to work harder on this for sure.
We actually work with Northwestern Mutual - I wonder if the two are related? They have been SO helpful to us!
We are working on putting one through college as well as putting away for retirement. It is a little hard to do both.
Our major goal we have been working on is savings putting money into our savings account so a far we have been doing well I would like to not have not dip into savings when we are tight. I would like to have extra money to spend on stuff rather then budget for them. However sticking to a budget has worked wonders for our family has been a life changer having to assign every dollar a name.
Hi Janell, You are working at it so smart - we often forget that the future is ours, not our future selves that we don't know! We are looking closer a our retirement funds every year!
It's so important to have a financial plan in place with short-term and long-term financial goals. This helps to keep you on track with your finances.
So important to have a plan! It's not just you, but the kids and so forth. You don't want to wait till the last minute on stuff like this.
I agree, taking care of finance and planning it is, so important. This post really helps to keep you on track with your finances. Glad to know that you are making better plans for your financial future.
Thanks so much for sharing! I definitely really need to get our finances in order… We are looking at moving in a few years to the mainland. This away lifestyle is driving us broke. So we are hoping to get money aligned and then being able to rent for a while and finally take out a mortgage. Wish us luck LOL
Taking care of financial planning is so important! We're hoping to buy a new house in a couple of years.
I need to look at our financial planning again. Thanks for the reminder and for sharing.