Month: September 2021

7 Steps to Building Your Family Financial Plan

family and finance
How to Develop a Comprehensive Financial Strategy to Set Your Family Up for Success

Every family will experience various stages of life and unexpected events as the members of that family grow. Having a strong family financial plan in place can help ensure that, no matter what your family encounters, you’ll remain on firm financial footing. Developing a comprehensive strategy for managing your money requires that you start with the basics – that means setting up a budget, paying down your debts, and building a solid safety net for emergencies. Depending on the family, it may also mean investing for retirement and starting a special savings account dedicated to future college costs.

Personal financial planning can be complicated enough, so financial planning for your entire family can be especially challenging. However, it’s not impossible. With dedication and deliberate care, you can make a family financial plan that works for everyone. No matter your family’s situation, there are key elements that should be included in any family financial plan. As you get started with yours, here are seven key steps to consider.

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Small Business Employee Compensation Packages: Choosing What’s Right for You

employee compensation package
A Written Compensation Plan is Vital to Your Company’s Success

If you’re a successful small business owner, you likely have a solid business plan in place. However, if you’re like many entrepreneurs, you aren’t as adept when it comes to devising employee compensation packages. It can feel a bit like an afterthought when you’re focused on launching or growing your business, but determining the right compensation package may be critical to your long-term success. After all, the right compensation can assist you in recruiting top talent and in retaining your top performers.

As you consider your options, do so with your company’s overall strategy and values in mind. You want to be able to compete for the best talent, but without overextending your resources. Below we’ll discuss a few ways you can get started.

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