This guest post is written by Benedetti, Gucer & Associates.
Saving money is best approached in baby steps. Every penny, nickel, and dollar saved adds up in the long run.
Diligence and perseverance are necessary qualities for someone set on obtaining a long-term objective. For the greatest athletes in the world, it is the not-so-glamorous work they do when their fans are not watching which pays off in dividends once game time finally approaches. They rely on their constant dedication to their craft and their fine-tuned muscle memory to best their adversaries on the field, but there are many other practical examples of how an evergreen commitment can propel you in a positive direction.
When an individual commits to losing weight, the only true way of achieving that goal is to remain committed to their vision of success by exercise and maintaining a healthy diet. There is no magic pill. Success can come via a road less traveled and it is not for the faint of heart or those who easily waiver due to lack of self-control. Saving money for your future relies on the same principle. Whether it is for your retirement, college tuition, an emergency fund, or just for a nest egg, accumulating money through the practice of managing your expenditures can be a difficult challenge. In fact, according to CNBC Eight in 10 Americans are in Debt, so getting yourself into a debt-free financial position it is no easy feat. For many, the concept of actually accruing personal wealth can seem like a monumental undertaking, but like with any goal worth achieving, you need to take baby steps.
Here are five simple ways you can start saving money:
- Cut back on eating out, or if you can, eliminate it entirely. The $5 value meals and quick coffee breaks add up over time, and you will start to notice the balance on your bank statement rise, and you might get the added benefit of a shrinking waistband.
- Shop with a list in hand. Before you set foot in a grocery store, have a detailed list of all the things you’ll need until your next visit. It is amazing the added costs over time of the cart-crashing extras.
- Clip coupons and shop sales. Do not let the extreme couponing shows scare you, almost every grocery store has weekly specials and in-store coupons. Take advantage of those savings when something on your list is discounted.
- Pay off high-interest debt first. Paying extra on interest can be a tough pill to swallow. So when you sit down and evaluate your existing debt, prioritize the higher interest debt and make sure you are paying that down more aggressively than things like student loans which traditionally carry a lower interest rate.
- Set aside a small, manageable amount from each paycheck. Begin the practice of saving by determining a starting point, even if it is only a small amount. Put the money in a place where you will not be tempted to spend it – like a separate savings account or a shoebox in the back corner of your closet.
The journey to accrue wealth can be a never-ending, lifelong process, but it is not one you need to face alone. To truly be financially savvy you must know and acknowledge your shortcomings and consult professionals when necessary. A financial consultant can assist you along your path to wealth accumulation and guide you through the next step of investing and securing your money. It is then that you are ready to embark on your goals for the future. The boutique wealth management firm of Benedetti, Gucer & Associates (BGA) has the knowledge and financial expertise to be your guide. BGA is an Atlanta-based company with a reputation for integrity, honesty, and an unwavering commitment to their clients.
Benedetti, Gucer & Associates have a resume which speaks to their dedication, ingenuity, and resilience, in particular through a time when the financial industry has faced tumultuous public distrust. They have differentiated themselves from their competition in several important ways, but chief among them may be their decision to operate as a Registered Investment Advisor (RIA). An RIA is obligated by law to disclose any possible conflicts of interest, and they are always required to put the interests of their clients above their own. This role is also referred to as a fiduciary.
When you are ready to commit to your Retirement goals, consider seeking the professional advice and guidance of Benedetti, Gucer & Associates.
DISCLOSURES:
The views expressed represent the opinions of Benedetti, Gucer & Associates and are subject to change. These views are not intended as a forecast, a guarantee of future results, investment recommendation, or an offer to buy or sell any securities. The information provided is of a general nature and should not be construed as investment advice or to provide any investment, tax, financial or legal advice or service to any person.
Additional information, including management fees and expenses, is provided on Benedetti, Gucer & Associates’ Form ADV Part 2, which is available upon request.
The use of the term “RIA” does not imply a certain level of skill or training.
The Five Star program is the largest and most widely published wealth manager award program in North America. The research process for the Five Star Wealth Manager firms and peers nominate award candidates. Award candidates are evaluated against 10 objective criteria to determine the Five Star Wealth Managers in more than 40 major markets. These ratings should not be construed as an endorsement of the adviser by any client nor are they representative of any one client’s evaluation.
