Money Talks: Mentor Advice for Your Personal Finances Laurent Carrier
Even if you have had difficulties with your personal finances in the past, you do not have to continue on that negative cycle.
“By learning how to take charge of your money and understand how your finances operate,” says Laurent Carrier, a retirement planner in Colorado Springs, Colorado, “You can plan your budget and have a successful financial future.
You need to meet certain qualifications before you can rent an apartment. Be sure you have verifiable income, acceptable credit, and enough funds for the security deposit and the first month’s rent.
Don’t forget that if you have less than perfect credit, the electric, gas, phone, and cable companies usually ask for a security deposit before they establish service under your name.
Talk to an investment representative or financial planner. “Even though you may not be rolling in dough, or able to throw hundreds of dollars a month into an investment account, something is better than nothing,” says Laurent Carrier.
“Seek their advice on the best options for your savings and retirement, and then start doing it today, even if it is only a few dollars a month.”
Invest in what you love. The stock market and companies can be very confusing, and can seem like an unpredictable roller coaster.
Plan on investing over the long run, not trying to make a quick fortune.
Pick a company or companies who have been around for a long time, and who’s product you personally enjoy and use.
This will give you some piece of mind in their security, as well as an interest in following them.
If you decide to hire a credit repair firm to help with fixing your credit, make sure you understand what they charge.
“Many firms charge you by the number of disputes and deletions attempted with no guarantee of success,” comments Laurent Carrier.
“Try to find a credit repair firm that charges fair and has no hidden fees.”
To keep from draining your bank accounts, define a budget and stick to it.
Estimate how much you spend every month on bills, groceries, travel expenses and entertainment.
Allow very little leeway and put the rest of your paycheck in your savings account in case of emergencies that were not accounted for in your budget.
To make sure that bills don’t slip through the cracks and go unpaid, have a filing system set up that lets you keep track of all your bills and when they are due.
If you pay most of your bills online, be sure that you use a service that will send you reminders when a due date is approaching.
Write your budget down if you want to stick to it. “There is something very concrete about writing something down,” says Laurent Carrier.
“It makes your income versus spending very real and helps you to see the benefits of saving money.
Evaluate your budget monthly to make sure it’s working for you and that you really are sticking to it.”
You now have the tools to begin being in control of your personal finances.
Take the tips that apply to your situation and begin a new life of financial independence where you are knowledgeable and in charge.
You deserve to have the peace of mind that comes from securing your personal finances.
Thank You