The third approach is a financial strategy that has benefited many of our households. It is a simple solution to help address the main financial areas in your life: Debt, Investment, and Lifestyle. The 3rd Approach Once you receive your first full pay after your increase, split the extra amount into three parts: 1. Debt Payments 2. Investments 3. Lifestyle Example: Say you have a $150 raise. You would increase:…

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6 Steps to Sound Financial Principles Defensive 1- Pay off all your debts If we had the opportunity to review your budget in the last year, we may have built a debt repayment plan, with either a “snowball” or “avalanche” approach. Basically, the snowball approach is where you pay down your smallest debts first regardless of the interest rate, whereas with the avalanche approach you pay down the debt with…

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The expense categories are the following. • Housing • Transportation • Personal • Emergency funds Each category has subcategories. For instance, under Housing, we recommend saving the following. • Heating (if not equalized) • Municipal and school tax • Maintenance and renovation (1% of your home value) How it works. We help you determine your projected cost and divide the amount by numbers of pays you receive a year. If…

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10 Oct

If you are facing this situation it means you have made good choices during your accumulation years and are now facing a good problem but why pay more taxes than you need to?

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