The Importance of Financial Planning

Throughout all aspects of your life, one of the best ways to ensure success is to have a plan. The same is true when it comes to your finances. That’s why creating a financial plan is a key way to ensure prosperity in all of your financial endeavors. In this article, we’ll discuss what financial planning is and why it’s so important.

What Is Financial Planning?

Financial planning involves creating a document that acts as a “map” of your current money situation and how you want it to change going forward. This entails looking at the current state of your finances, thinking about your financial goals for the future—including any plans for charitable giving—and considering specific investment strategies to help you achieve those goals. A financial plan also considers your risk tolerance, your personal and family situations, and any future expectations you may have.

The first step in financial planning is to decide whether you want to create your plan on your own or hire a professional to help you. While it is possible to design a financial plan without any help, contacting a financial professional to help you create your plan increases the likelihood of successfully achieving your goals. This usually involves working with a financial planner or financial advisor. 

Why Is Financial Planning Important?

Financial planning and analysis are important because they give you a path to follow and concrete steps that will help you achieve your goals. Without a plan, you may not implement the best strategies or know what actions to take to help you get where you want to be. You may also overlook some of the things in your life that could end up hampering your finances. By creating a financial plan, you can better understand your current situation, where you want to go, how to accomplish it, and then put yourself in the best situation going forward. 

Charitable giving is an important part of a sound financial plan. The Canadian National Christian Foundation provides philanthropic advice and wants to connect God’s money with God’s work. Our staff, our leadership, our board, and our donors are all believers who want to help you manage your assets and guide you through creative giving solutions that also benefit you. We can handle non-cash gifts efficiently, getting the money into the field as soon as possible with 100% of your principal always available for your charitable grant recommendations. You can get started by opening a donor-advised fund today!

About Canadian National Christian Foundation

CNCF is a community of givers who are seeking to advance the Kingdom of God by connecting the resources God has entrusted to them with His work on earth.

Similar to other public foundations, CNCF’s difference is the commitment of its staff and directors to the Word of God, its non-denominational history and status as a Christian foundation, and its ability to allow donors to donate anonymously, at a time and gift value of their choosing.  Learn more by visiting our website.