FINANCE PROS GET A MONEY BUDDY
Find a friend who is financially like-minded to share your money tips with. Use this buddy to keep you accountable and on track to reaching your financial goals.
RAISE THE BAR
ALL-CASH DIET
As you gain more financial stability through increases in your salary, be sure to increase your savings amounts. If you raise your income, raise your financial contributions.
If you’re bad with budgeting, consider using nothing but cash on daily expenses to prevent overspending in your account.
KEEP FINANCES ORGANIZED
Having an organized system of handling your finances will help keep your life simpler and give you a sense of control. A system will help you handle your financial mail, make sure bills are paid on time, and keep the right type of financial records.
LIVE MODESTLY
Live within your means. One of the key lessons learned from the recession is that you can’t count on real estate values to always increase and home equity is not a reliable piggy bank. Stretching to make a large monthly house payment will keep you on financial thin ice. Live modestly and you’ll be able to afford the occasional splurge on travel or clothes without the stress of credit card debt.
HANDS OFF RETIREMENT
Don’t touch your retirement account for any purpose other than income in retirement. Avoid loans and early distributions from your 401(k) or IRA. Set up separate savings accounts for other purposes such as emergency funds, children’s educations and home purchases.
IS YOUR FINANCIAL FUTURE SECURE?
YOU CAN START INVESTING IN YOUR FINANCIAL FUTURE AT AN EARLY AGE, OR FOR THOSE THAT HAVE A LATER START, THERE ARE MANY OPTIONS OUT THERE TO INSURE THAT YOU ARE STILL ABLE TO LIVE THE RETIREMENT OF YOUR DREAMS WITHOUT BIG SACRIFICE ON THE FRONT END. WE ASKED THE TOP FINANCIAL GURUS IN THE SOUTH FOR THEIR ADVICE. HERE IS SOME ADVICE THEY GAVE US....
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HIRE A TAX PROFESSIONAL
Though there are many do-it-yourself tools in the market, tax law is very complex and constantly changing. A qualified tax professional is the safest and smartest way to take advantage of all the tax breaks available to you.
MAXIMIZE YOUR EMPLOYMENT BENEFITS
Commonly, employment benefits get overlooked and could be costing you thousands of dollars. Your company benefit plans can be complex and confusing. Ask for detailed information from your employers so that you can make the best choices for your personal situation
REVIEW YOUR FINANCIAL STATUS OFTEN
Because things are ever changing in life, make sure that you review your policies often to ensure that you are benefiting at the highest level. Immediately update estates and wills after any major life changes. Review your credit report more regularly as incorrect entries could be devastating to your credit score.
➦ MEET THE FINANCIAL EXPERTS AND READ THEIR TIPS ON SECURING YOUR FINANCIAL FUTURE.
FI NANCE PROS | SPE CIAL ADV E RT OR I AL SE C T ION