According to a recent survey on saving, almost 50% of the respondents blamed dining out and entertainment as their main reason for not being able to save more.
Groceries are not a discretionary item in your budget. We all have to buy food. But you do have some flexibility.
I am often asked, “How much money should I save”? My answer is usually “I don’t know”. Then I ask, “How much do you need”?
We all want to save more money and we all love it when we get a really good deal on something we want.
Insurance is a financial tool that protects you from something bad that could happen in the future and is used when you don’t have enough dollars in your emergency fund to self-insure.
As we age we begin to have concerns about our living arrangements and who will care for us if we fall or get sick.
For most folks, your home is the largest tangible asset you own. You need to protect it with insurance.
If you are unable to work due to an accident or an illness it is disability insurance that will protect you and provide an income stream for you and your dependents.
When we buy insurance, we are buying financial protection in case an incident occurs that we cannot afford.
The last phase of your financial life is to enjoy the fruits of your labor. Retirement!