I need financial planning help

[SymphonicaX]

I was wondering if any of you have any suggestions for planning my finances?

I have to take over my family's finances because my dad passed away a couple months ago. I received a big chunk of life insurance money, but I have no clue what to do with it.

I am unsure if I should put the big check in my bank account, or create a new account for it, or put it in a saving account. And then I am unsure how to budget the money accordingly.

Does anyone have any advice on this? I first need to get the check in the bank.

 

[dancingwithhim]

I am sorry to know about your dad's passing. That has to be hard! I will pray for you and your family.

I would put it in the bank. I would also seek a financial advisor to go over your finances with you and let you know where you might invest. Most important thing is to save!!!! I would put a huge chunk of it into savings and let it build up interest. Again this is where a financial advisor (in person) comes into the picture. I was watching Oprah the other day and she had people on there that had come into a lot of money, but ended up spending it all. They didn't save any of it. (They didn't plan for the future)

I am not a financial advisor and I don't have a lot of money, but I am saving and getting out of debt. That is something else that they will tell you to do. Get out of credit card debt if you have any.

I hope that all works out for you!

 

[artjack]

I was wondering if any of you have any suggestions for planning my finances?

I have to take over my family's finances because my dad passed away a couple months ago. I received a big chunk of life insurance money, but I have no clue what to do with it.

I am unsure if I should put the big check in my bank account, or create a new account for it, or put it in a saving account. And then I am unsure how to budget the money accordingly.

Does anyone have any advice on this? I first need to get the check in the bank.

I am sorry about your plight and your father moving on also, there are so many thing you can do I suppose, perhalps ask your self what your goals in life are and what choises would be wise, know love is letting go, not holding on it may help in your greif and choise,

 

[SymphonicaX]

What I really want to do is invest most of the money in paying the bills for my family and I for the next three years. I'd like to find a way to build a portion of the money in a savings account too.

Besides this "big" check, my mom gets retirement every month and my brother and I work. I will be moving to a different city in the summer for school so I won't be able to really contribute to the family, only my brother and my mom will.

I think with all the money we have right now, we can survive for three years paying off bills, but I'm not sure how and how to plan the budget.

Where can I find financial planners? Banks?