What must be included in a personal finance consultation?

In a personal finance consultation, it is essential to include an analysis of income, expenses, and debt obligations because this foundational assessment provides a comprehensive understanding of an individual's financial situation. This analysis helps identify not only the current financial status but also highlights areas that require attention, such as excessive debt or insufficient income to cover regular expenses.

Furthermore, this analysis serves as the basis for creating a tailored financial plan that addresses short-term and long-term goals. It allows individuals to see their financial picture holistically, facilitating informed decision-making regarding budgeting, savings, and potential debt reduction strategies. While assessing credit scores, discussing investment strategies, and even reviewing health insurance can also be valuable in a broader financial plan, the core insights derived from evaluating income, expenses, and debt obligations are crucial in establishing a strong foundation for any further financial advice or strategies.