Developing a Financial Plan

AUTHOR:  Wilson Bautista
DATE:  05/26/2020

As a young man in my 20’s and 30’s, I never gave much thought to financial planning and the impact that it would have on my future.


I was secure in the mindset that I had a well-paying job and a retirement plan. Now that I am turning 40 and a dad of three I understand the importance of financial planning. 

In my experience thinking about events in the future that may not happen seemed like a foreign concept. I would give my younger self three financial tips for the future.

Tip #1

The first would be to save 10-15% of my paycheck in a savings account that you do not have easy access. We all have emergencies because life happens but an emergency today will be an emergency tomorrow when the bank opens.

Tip #2

The second advice I would give my younger self would be to educate yourself on credit and the home ownership process. The more information you have going into the process the better you will understand your options. The process is long and complicated but with the proper preparation you can give yourself all the advantages you need to buy the car or home of your dreams.

Tip #3

The last piece of advice I would give my younger self is to create a budget. Living within ones means is easier said than done. The more difficult thing to do is be patient and wait until you can afford to travel to those vacation destinations. But it is the best long term choice.  Following those three pieces of advice and the future you will thank you and so will your kids.

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Wilson Bautista

Associate Director for Informal Recreation


175 Alumni Arena

Phone: 716-645-6874