Financial Literacy - Do the right thing with your money

Americans are straining under the weight of their credit card debt, auto payments, housing loans, and student borrowing. Total household debt in the US had reached $14.5 trillion by the end of 2020. Home mortgages were by far the greatest contributor ($10.3 trillion).

Americans are straining under the weight of their credit card debt, auto payments, housing loans, and student borrowing. Total household debt in the US had reached $14.5 trillion by the end of 2020. Home mortgages were by far the greatest contributor ($10.3 trillion). Consider that 40% of Americans spent up to half of their monthly income in debt payments (and this was before the pandemic).

Debt is perhaps the main reason that people in this country find it so difficult to save and invest for the future.

To help our clients and potential clients we stand behind Financial literacy 110 %. Financial literacy is the ability to understand how and where your money is being used. If you are financially literate, you understand the ability of debt to restrict your options for doing the right things with your money, leading to financial security.

Financial literacy enables you to see the true effect of debt on your ability to save and plan for the future and to meet your current financial expectations and goals.

Where can you get that proficiency? Unfortunately, it is not taught in high school or college, and rarely at home. And as the numbers attest, becoming financially literate through experience can result in economic pain and lost time in saving for the future.

At Isakov Planning Group, we love helping our clients achieve financial literacy, because this may be the most important factor on the road to security. This doesn’t mean equating financial investments with financial literacy. We start with an evaluation of income and cash flow, and move to a discussion about your current budget and debt load (and how to balance the two).

We believe it is essential to establish some level of financial literacy before we can discuss options on beginning to save for your future. In other words, we start from the bottom up, eagerly working with people who have not yet reached a certain level of assets, unlike some of the large firms.

We want to meet your expectations. Call Isakov Planning Group for a free consultation today.

Office Locations

735 Street Rd Southampton, PA 18966

14 Old Bridge Turnpike, South River, NJ 08882

1501 Broadway 12 TH Floor New York, NY 10017

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