Securing Finances in an Uncertain Economy

is offering the community access to free financial information through a series of three seminars, which are devoted to different financial topics,

“These are very challenging times,”  said seminar speaker Michael Knight. “People need to be paying very close attention.”

A certified financial planner, Knight is the founder of Knight Investment Planning and a member of the Garrett Planning Network, an international network that provides financial advice to people regardless of their income.

“We want to give objective advice to the community and helpful information during a time of uncertainty and economic volatility,” Knight said.

These seminars began five years ago. Knights, a St. Joseph’s Finance Committee member, says that at the beginning of each seminar, he asks the participants what topics matter the most and focuses mostly on those topics, whether it’s credit scores or foreclosure prevention.

“If you start with goals, it changes everything,” Knights said. “We need clear, compelling important life goals that really drives the financial plan and creating the dreaded budget.”

Knight says it's important to have a candid conversation.

“We live in abundance,” Knight said. “You have to make decisions about your priorities—money is finite.”

Knight explains that because personal finance is a broad subject and each person’s situation is different, it’s impossible to provide every attendee with a specific plan.

“My emphasis in each of these seminars will be for everybody to set three financial goals and work through the process to see how they can accomplish those goals,” Knight said.

One tip Knight finds himself telling many clients is that when you receive a raise, instead of bringing on new expenses, you should increase your retirement savings contribution.

“What’s often overlooked is longevity,” Knight said. “Everybody’s worried about the volatility of the market. Sometimes the big risk is not the one that’s apparent. We have to think about the long term implications of protecting our buying power and the impact of inflation.”

The first seminar will tackle the subject of credit, debt and spending.

“You need to ask yourself, ‘What do you owe, who you owe it to, what it costs,’” Knights said. “Then by putting a debt management plan for yourself in place, you’re taking steps toward your goal of financial freedom.”

The second seminar will focus on investing basics and the third seminar will focus on retirement planning.

The seminars will run on April 2, 6, and May 7. Each will start at 9 a.m. at the St. Joseph Formation Center on Milwaukee Ave.

“My message is always a hopeful message,” Knight said. “There’s a human tendency to struggle and do it alone and think that no one else is going through it. The reality is that everybody is.”