If getting a better handle on your financial life tops your to-do list, well, you’ve come to the right place. After all, everyone wants to save more, get out of debt and aspire for bigger things like asking for that well-deserved raise. Here are some tips that will put you on the right path to better money management. Make the most of your 401k. That’s right before you take that big step towards your career, make the most of your 401k. Leaving your money right where it is may make sense, but if you are ready to take the money with you after comparing on options at your future employer, consider a direct rollover to a traditional IRA. It can be done with one simple step and the help of a smart broker who will walk you through the entire process over the phone. • Set up automatic bill pay: Don’t pay late payment penalty fever! Simply set up automatic bill pay. You can also request your bill collectors to change their due dates to match your pay cycle. This way, you’ll always have enough in the bank to cover you. • Save for a rainy day: Dipping into your savings to bail yourself out is the last thing you would want to do.

We shouldn’t let the uncertainties of life overpower us. This might seem like a clich, but it’s a good principle to follow in the matter of finances. The lack of a proper financial plan can lead to serious problems in our lives. It’s really important that you plan right, as far as money is concerned. Medical emergencies and unexpected accidents require immediate monetary help, and you should have enough funds to bail you out of such situations. A few baby steps are all you need for a perfect financial plan and a relaxed future. The earlier the better. Keep the following pointers in mind for a financially secure future. Plan Right Maintain a record of all the financial expenses that you make. Keep a record of the money you’re saving every month as well. Is that amount enough for securing your and your family’s future? If the answer is no, try and save more. Reduce your expenses or look for additional income options. Spend Right A little bit of luxury is understandable. However, don’t overdo it. Have a saving goal in mind and make sure to reach it every month. Splurging a huge amount under peer pressure is something that you need to put an end to, unless you have already done it.

Selecting a person who will be in charge of your money can be quite a challenging task, which is why you need to understand the different types of financial advisors and their specializations. Financial planning is imperative to build a nice comfortable retirement nest egg so that you will not have to worry about making rent and payments for utilities in your golden years. Different types of financial planners will provide both general and specific services. Here are five financial planners who are adept in analyzing your portfolio and utilizing financial planning tools to help build you that nest egg. Stockbrokers: Stockbrokers are registered representatives who have a good knowledge of the different investment products available in the market. These financial planners qualify after taking the series 6 & 7 exams and register with the Financial Industry Regulatory Authority, to obtain their license to practice as a broker. Stockbrokers will not advise you on the best financial planning tools rather they will use these tools to sell you different products to invest in and earn their commission, while you make a profit to be saved for retirement. Investment advisors: Individual advisors or investment agencies will advise the best possible course of action to be taken on certain financial products, mostly securities.

Financial planning is key when it comes to making different types of investments. However, technology now plays a key role in financial planning with the increasing use of software to analyze and predict certain financial outcomes. Access to historical data to compare different types of investments, assess their viability and predict a profit margin are all tasks which have been simplified due to this premium software. Valuation formulas for different types of securities, risk assessment, equity analysis done in real time within seconds are just some of the highlights of these financial planning tools. The five most popular softwares which have now become mainstream financial planning tools include: Money Tree: Money Tree has designed a number of softwares and additional tools to be primarily used by bankers. The Silver program, MoneyGuidePro, eMoney Advisor are just some of the financial products associated with this software beneficial for estate planning, retirement planning, and even educational funding plans. An easy to use software which can be integrated with various third-party programs, especially to run certain scenarios to predict financial outcomes making it one of the popular financial planning tools available in the market. MoneyGuidePro: Visually interactive, MoneyGuidePro is designed to engage whoever is using it to input different choices and mimic certain desired financial outcomes.