Jameson Van Houten of Stonegate Capital Advisors shares five financial tips that every savvy spender should consider this fall.
Stonegate Capital Advisors understands that many individuals are looking for ways to save money, especially as the end of the year approaches. Having been in the financial planning industry for a number of years, Jameson Van Houten is sharing some of his wisdom with the public in order to assist them in their efforts to save more and spend less.
- Don’t just visualize.
It is easy to envision a financial plan in one’s head. However, it is a completely different story to put that plan on paper as a tangible thing. It is oftentimes easier to stick to a budget if it is all laid out on paper. Planning out where each dollar is going every month will certainly help in budgeting effectively throughout the month and year. Instead of thinking that a budget is constricting, think instead of it as being liberating and a plan for getting what the individual wants in the future.
- Always plan to be debt-free in the future.
Being in debt is never a good feeling. It is for this reason that one of the keys to financial success is to have a plan in place to be debt-free in the future. Jameson Van Houten shares that constantly worrying about making payments is not any way to live and that one’s financial plan should always be to end up debt-free in the future.
- Seek out help.
When budgeting, it is important to talk with one’s spouse or someone with financial experience in order to set financial goals and stick to them. When managing high volumes of wealth, it is prudent to seek out the services of a financial advisor like those at Stonegate Capital Advisors.
- Stop getting into more debt.
One of the mistakes that many people make when trying to get out of debt is that they end up with more debt than they originally had. Instead of making purchases with a credit card that an individual is already behind on, it might make more sense to pay for that item in cash. All of these small purchases can add up at the end of the month if they are not properly accounted for.
- Spend less than what is earned.
At the end of the day, Jameson Van Houten shares that spending more than what an individual earns each month is never a good idea, even if they have the account balances to handle this kind of financial stress. Individuals should consider spending less than what they earn each month so that they have some money to put into savings, rainy-day funds and retirement accounts.
For more financial tips and information, contact the financial planners at Stonegate Capital Advisors.