Southfield (CW50) – A healthy understanding of personal finance is seen as one of the most important parts of adulthood. What should you know and is it ever too late to start learning?
Nicole Narkus, Financial Advisor for Edward Jones, joins Jackie Paige on Community Connect to break down the different areas of personal finance, where people struggle, and how they can get better at balancing their financial future.READ MORE: Beaumont Health, Spectrum Health Plan To Merge, Operate 22 Hospitals
She discusses the fact that people forget to start planning when they’re young, especially taking advantage of their employer’s benefits such as life insurance or disability, as well as retirement plans. She also goes into the idea of savings, where one area people forget to save money for is emergencies. Narkus also shares the fact that people should plan and save for fun and vacations, as they are an important part to maintaining a healthy life.READ MORE: Michigan Reports 172 New COVID-19 Cases, 20 Deaths
Another important topic when it comes to personal finances is credit. Narkus explains what a good credit score is, how to build credit, and the importance of using credit.
Viewers should not act upon this content or information without first seeking appropriate advice from an accountant, financial planner, lawyer or other professional.MORE NEWS: Judge Greg Mathis To Build New Community Center, Affordable Housing On Detroit's Westside
Watch COMMUNITY CONNECT, Saturday at 7am on CW50