CPA Michelle Staebell of the New York State Society of CPAs discussed the importance of having a financial plan and the ingredients to putting a solid one together Monday during News 8 at Sunrise.
“It’s very important for setting financial goals,” Staebell said of financial planning. “You want to avoid financial setbacks in your life. You want to plan for unexpected life changes, and you want to really avoid debt and credit problems, if you can.”
Staebell said the best way to avoid any financial setbacks is to have a budget. “A monthly budget is easy,” she said. “You just track all your money coming in, your expenses going out, and there should be some money left over. That money can be used for saving and investments, and it really helps you determine your short-term goals, and also your long-term financial goals.”