• About
  • Contact
  • Testimonials
  • Newsletter
  • More
    • Demographics & Advertising Rates
    • Terms & Conditions
Thursday, November 30, 2023
No Result
View All Result
California Business Journal
  • Front Page
  • Business
  • Finance
  • People
  • Featured
  • Opinion
  • Technology
  • Law
  • News
  • Food
  • Art & Culture
  • Human Interest
  • Education
  • Insurance
  • Real Estate
  • Health & Fitness
California Business Journal
money

Money Management: Tips for Mastering Your Finances

Mastering finances should be a goal for everyone in life, but for anyone approaching or thinking about retirement, it is essential.

by Lisbeth Mora, California Business Journal
A A
Share on FacebookShare on Twitter

The better shape your finances are in when you retire, the better your quality of life can be. It’s never too early to start thinking about your retirement funds. In fact, the earlier you start to implement strategies to increase your funds, the better off you’ll be when the time comes to finish working. The following are five tips for mastering your finances and setting yourself up for a more comfortable life.

Always Budget

Well managed finances always start with a proper budget. If you are not budgeting properly, it is guaranteed that you are overspending somewhere and this will add up over a week or a month. Create a detailed plan of your income and your expenses and record your spending as you go. Having a budget also instills discipline into your spending habits, as you will be reluctant to go over your dedicated figure. It’s easy to set up a budget, so don’t avoid it.

Calculate Your Assets

Take a look at what you own and where you have the potential to make some money. An area that is new and often overlooked is life insurance policies. It is possible to sell your policy for a life settlement, giving you a lump sum of cash. You may have decided that your current policy no longer suits your needs or that you are in need of cash now, perhaps to pay off debts. The life settlement industry can be overwhelming to navigate and understand, so it is vital for policyholders to learn more about the companies that offer this service. Reputation, fees, and experience should all be things that you look at when choosing a company to work with. And don’t forget the other assets that you own too. Do you have real estate that you could rent out? Perhaps you own some crypto currency that you could stake on the blockchain? These are all options to consider.

Cut Out Unnecessary Spending

If you live for the moment and that carries across into how you spend your money, you are going to need to change your habits if you want to grow your savings. Instead of impulsively buying things with the mindset that you will think about it later, stop now and think about it. Do you really need to make this purchase? Can you afford it? This also applies to subscription services. Think about how much you use them and if you are actually getting any value.

ADVERTISEMENT
Save More

Use your new budgeting skills and add a set amount of money you want to save each month to your budget. Put this money aside at the beginning of the month so that you have less temptation to spend it. Banking apps often have features that allow you to put money into a pot that is inaccessible for a specified amount of time. Make the most of all tools available to help you budget. Disciplined savings is part of a good retirement plan and the sooner you start one the better.

Address Debt

If you have debt, now is the time to address it. The quicker you are debt free, the easier it is going to be for you to save. Talk to those who you owe money to and see if you can come to better repayment terms. It’s also worth considering talking to a financial advisor who will help you to carve out a path to a debt-free future.

Related Posts

Money-Management Tips if You're Newly Self-Employed
5 Money-Management Tips if You're Newly Self-Employed
loan
How to Decrease the Chances of Getting Your Loan Declined
Is There A Way To Repair Damaged Credit
Is There A Way To Repair Damaged Credit?
Lottery winners bought their dream home, a Porsche and Lexus, and embarked on trips to Monaco and Rome. Then went into debt.
college debt
Steps to Keep the Crippling Student Loan Debt to a Minimum
IRA
What Makes A Good Retirement Plan?

 

Tags: advisorcompanycryptofinancialfinancial advisorinsurancelife insurancelife settlementMoney ManagementMoney Management 101Money Management: Tips for Mastering Your Financesreal estaterentretirementsavingsskillsTips for Mastering Your Finances
ADVERTISEMENT
Lisbeth Mora, California Business Journal

Lisbeth Mora, California Business Journal

Related Posts

Lottery winners bought their dream home, a Porsche and Lexus, and embarked on trips to Monaco and Rome. Then went into debt.
Money-Management Tips if You're Newly Self-Employed
5 Money-Management Tips if You're Newly Self-Employed
college debt
Steps to Keep the Crippling Student Loan Debt to a Minimum
loan
How to Decrease the Chances of Getting Your Loan Declined
IRA
What Makes A Good Retirement Plan?
Is There A Way To Repair Damaged Credit
Is There A Way To Repair Damaged Credit?
ADVERTISEMENT
Facebook Twitter LinkedIn Instagram LinkedIn

CBJ Newsletter

Contact [email protected]

CBJ Rates and Demographics

1REALTOUR-SAN DIEGO-WEB DESIGN
Facebook Twitter LinkedIn LinkedIn Instagram Youtube
C B J   LOGO  SVG-01
  • About
  • Contact California Business Journal
  • Testimonials
  • Demographics & Advertising Rates
  • Terms & Conditions

Categories

  • Art & Culture
  • Business
  • California Hotel Listings
  • Daily Updates
  • Editor's Choice
  • Education
  • Featured
  • Finance
  • Food & Dining
  • Health & Fitness
  • Human Interest
  • Insurance
  • Law
  • Lawyers
  • Marketing
  • Medical
  • News
  • Newsletter
  • Opinion
  • People
  • Popular
  • Real Estate
  • Social Media
  • Technology
  • Uncategorized

CBJ Partner Firebrand Media

Laguna Beach Independent Newspaper
 Laguna Beach City Guide
 Newport Beach Independent Newspaper
Newport Beach Country Club Magazine
  Montage Magazine
 Omni Escapes Hotel Magazine
 Bespoke Concierge New York
 Evans Hotels
 Laguna Beach Magazine
 On The Menu Laguna Beach
 Newport Beach Magazine
Coastal Real Estate Guide (NB,LB, CDM)
Monarch Beach Resort Magazine
 Pacific Coast Magazine (SoCal)
Sea Island Life Magazine
Salamander Hotel & Resorts Magazine
 View our entire portfolio

 

Most Viewed

  • More Truth About Temu: Is Temu A Chinese Company?

    The Truth About Temu: Where Is It From?

    0 shares
    Share 0 Tweet 0
  • How to Get Free Stuff on Temu (The EASIEST Methods Explained)

    0 shares
    Share 0 Tweet 0
  • Lawsuit Basics: How Much Does It Cost to Sue Someone?

    0 shares
    Share 0 Tweet 0
  • Investigation: Can TriumphFX Take Your Money?

    1 shares
    Share 0 Tweet 0
  • What to Do When an Online Casino Refuses to Pay Out Your Winnings

    0 shares
    Share 0 Tweet 0
  • The Impact of Covid: Racing to Buy Second Citizenships

    3 shares
    Share 0 Tweet 0
  • 30 Best Temu Alternative Apps To Buy from Online

    2 shares
    Share 0 Tweet 0
  • NFL Paychecks: How Do NFL Players Get Paid?

    0 shares
    Share 0 Tweet 0
  • Temu’s New Shipping Policy Is A Smashing Hit For Shoppers All Over the Country

    0 shares
    Share 0 Tweet 0
  • Top 5 Flavors On Elf Bar BC5000 Review

    0 shares
    Share 0 Tweet 0

Latest Articles

Jonathan Pruitt Embraces a Love of Fantasy, With Bite

Image Source: Pexels

Empowering Growth: Unveiling the Benefits of Capital Title Loans for Small Business Owners

Image Source: Pixabay

TEFL Course Length Explained for Aspiring ESL Teachers

Boating Accidents: Legal Considerations on the Water

Why is Call Tracking So Important For Your Marketing?

Nail It Right: Avoiding Common Wall Art Hanging Mistakes

Expert Guidance: Selecting the Finest Ukrainian Online Casinos.

The Best Performing ETFs to Invest In

Managing Pain Naturally: Kratom Capsules as an Alternative

Image Source: Shutterstock

Best Practices for Preventing and Addressing Fleet-Related Injuries in California

California Business Journal | California Business News, California News Media, California business articles | Orange County, Los Angeles, San Diego, Inland Empire, Northern California, San Francisco | Huntington Beach CA 92649 | (949) 648-3815
ALL RIGHTS RESERVED BY CALIFORNIA BUSINESS JOURNAL.
Site Design by 1REALTOUR

No Result
View All Result
  • Front Page
  • Business
  • Finance
  • People
  • Featured
  • Opinion
  • Technology
  • Law
  • News
  • Food
  • Art & Culture
  • Human Interest
  • Education
  • Insurance
  • Real Estate
  • Health & Fitness

California Business Journal | California Business News, California News Media, California business articles | Orange County, Los Angeles, San Diego, Inland Empire, Northern California, San Francisco | Huntington Beach CA 92649 | (949) 648-3815
ALL RIGHTS RESERVED BY CALIFORNIA BUSINESS JOURNAL.
Site Design by 1REALTOUR