1. Create A Budget
Allocate your money into a set budget. This can help reduce
on unnecessary expenses that you can in turn add to your investment and saving
funds. Once you set a budget, try to stick to it. Budgeting is the first step
when it comes to building wealth for your future.
2. Reduce Expenses
Through reduction of your expenses, you can have more money
to save or invest to reach your future financial goals. Think about your
monthly expenses versus what you actually use. Do you have a landline phone or
a gym membership that goes unused each month? Cutting back on the amount you
spend eating out can free up some money as well. These area easy ways to reduce
on your monthly outgoing expenses.
3. Save For Emergency Fund
An emergency fund can help pay for unexpected expenses, like
medical bills, employment changes, or vehicle repairs. It is recommended to
have a fund stashed away to help you get by on six to twelve months of
expenses.
4. Build Good Credit
Credit can impact everyone’s lives. Establishing and
maintaining good credit can help you by securing better rates on loans and
credit cards. This can also save you money in the long run by borrowing at a
lower interest rate.
5. Add To Retirement Savings
Retirement is a time to enjoy friends and family, without
the worry of work. You work hard your entire life for this freedom. With a
retirement nest egg, it is important to contribute regularly to build up your
fund over time. Saving for retirement can help ensure that you can enjoy it,
when it comes time to retire.
6. Pay Off Debt
Relieving yourself of the weight of debt can help you
reallocate that money to a savings or investment fund. It is suggested that you
pay off your debt with the highest interest rate first, typically credit cards,
and then move on to the next highest rate of debt you owe.
The only thing certain about the future, is that it is uncertain.
You can help better prepare yourself for the unknown by financial planning. The
financial advisors in St. Louis want to help you plan and prepare for your
future financial situations. Setting goals is the first step in the process.
The six goals provided are a great way to start financially preparing yourself
for the unknown. We would be pleased to help you set and work toward achieving
your unique financial goals.
Sources:
Financial Health...For Now & Tomorrow
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Website - www.bogettoandassociates.com
Telephone - 314-858-1602
Email - peter@bogettoandassociates.com
10805 Sunset Office Drive, Ste. 202
St Louis, MO 63127
Website - www.bogettoandassociates.com
Telephone - 314-858-1602
Email - peter@bogettoandassociates.com
10805 Sunset Office Drive, Ste. 202
St Louis, MO 63127
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Bogetto & Associates does not provide legal or tax advice. These topics are discussed in conjunction with your CPA, Tax Advisor and Attorney.
Bogetto & Associates does not provide legal or tax advice. These topics are discussed in conjunction with your CPA, Tax Advisor and Attorney.
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