One of the most useful tools for building sound financial health is properly defining your “wants” and your “needs.” These won’t always be the same for every person or family but let’s look further into ways to define “wants” versus “needs.”
Think for a moment about your recent purchases. What did you consider before you made those purchases? Was it “Do I have enough space on my credit card balance to get this?” or was it “Do I actually need this?”
When you think about the following items or services, how do you define them? As a want or a need?
- • A new car every four years
- • A workable retirement savings plan
- • A 60” HDTV
- • Adequate life insurance
- • “Dream” vacations every year
- • A one-year emergency fund
How you classify each of the above will most likely have a direct bearing on reaching your goals and dreams. Forgoing a new car for keeping the late model around for awhile longer or dialing down the entertainment center – and investing the savings toward your retirement and other financial goals – are choices that you can make to achieve your goals.
But sometimes the decisions aren’t quite so clearly cut and dried. That’s where Primerica’s Financial Needs Analysis (FNA) comes in. With a little data gathering and a few minutes a Primerica representative can produce a personalized, confidential and complimentary FNA for you and help you make a game plan for success.
Start In Just 30 Minutes
One of the best things that you can do for yourself and your family is to establish a realistic game plan that you follow. Your Primerica representative can meet with you and, in just 30 minutes, help you start developing that strategy – one that you know you can follow.
Primerica teaches people how money works so they can make informed decisions about how to manage their finances. The basics of money are generally not taught in school. With your FNA, you’ll learn the steps you need to take to get on the road to the financial life you want and deserve.