It’s the end of 2014 and as we look back on our year of finances many of us ask, Where did all my money go?
How many of us can truly account for our expenses? Did you save or spend in 2014?
We have some Smart Money tips from our guest writer, Financial Adviser Shkira Singh of Padilla, Singh & Associates Wealth Management.
Follow these 5 Steps to be on track to Smart Money in 2015!
1) The number one step and main step is to create a budget. This is a plan for how you are going to spend your money for the entire upcoming year.
2) Pay yourself first! Put a least 10% percent of your income into a savings accounts
3) Have at least 9-12 month of liquid reserves ( based upon your monthly expenses)
4) Start investing and let your money work for you
5) Pay off high interest rate debt
Be smart… Successful people look for opportunities to help others, unsuccessful people always ask “What’s in it for me”?