August 14 is National Financial Awareness Day and it’s the perfect time to review your personal finances to make sure you’re on the right track. Chartered Financial Consultant John Caserta explains the biggest challenges people face when it comes to their money.
The biggest challenges people face financially are:
- Not keeping track of finances
- Lack of emergency savings
- Carrying high-interest consumer debt
- Lack of planning
Caserta gives these steps to overcome these challenges:
- Find a tracking method that works for you
- Automate savings and investing
- Pay-off debt· Expect the best but plan for the worst
To break bad financial habits, it starts with awareness. Most people aren’t even aware of what they’re doing wrong. Working with a professional can help show you what’s your current trajectory is and how to fix it.