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Check out these 6 money management mistakes you should avoid! ⬇️

Let me ask you something: Are you keeping most of your money in a savings account, thinking it's the "safe" option? If you answered yes, you're not alone. But what if I told you that you’re actually losing money? With interest rates lower than inflation, the purchasing power of your savings is actually decreasing over time. Which I’m pretty sure wasn’t what you had in mind. But it doesn't have to be this way... Investing doesn't have to be scary or complicated. In fact, it can be the key to achieving your big life goals - whether that's early retirement, buying your dream home, or an Alaskan cruise on your 60th birthday. That's why I created Bare Naked Investing. It's a course that strips away all the confusing jargon and gives you the confidence to start making your money work for you. In just 11 modules, you'll learn: - The crucial difference between saving and investing - How to choose investments that match your goals and risk tolerance - Simple strategies to save on taxes (yes, legally!) And much more... The best part? You can learn all of this at your own pace, and revisit the material whenever you need a refresher. Ready to stop making costly money mistakes? Click here to learn more https://lnkd.in/etnjUhei

I took a poll the other day to see when people are paying themselves after they get their paychecks. It is generally advised to pay yourself immediately after receiving your paycheck. The idea is to prioritize saving or investing a portion of your income before spending it on other expenses. By doing so, you’re ensuring that your financial goals—like building an emergency fund, investing for retirement, or saving for big purchases—are consistently funded. 1. Set a specific percentage of your paycheck for savings and investments; 2. Automated the process by setting up direct deposits or automatic transfers to your savings or investment accounts; and 3. Budget for other expenses after you’ve saved, so your lifestyle adjusts to what remains after you’ve invested in your future. This method helps develop financial discipline and ensures you’re progressing toward your goals regularly. Do you struggle with paying yourself first, or you not sure what types of accounts to invest in? I provide complimentary financial education regarding strategies that can help YOU protect your assets and grow your net worth risk free and tax free. Send me a message today and let’s schedule a time to talk.

Managing finances can be overwhelming, but it doesn't have to be! 🐺 While there are a lot of money-management frameworks, the 50/30/20 rule is one of the simplest and most efficient ones—a straightforward method to keep your budget on track: • 50% on needs: allocate half of your after-tax income to essentials like rent, utilities, and groceries. • 30% on wants: set aside 30% for things that enhance your lifestyle, such as dining out, hobbies, and entertainment. • 20% on savings: commit 20% of your income to savings and debt repayment. This could be your retirement fund, emergency savings, or paying off credit cards. Why not give it a try? This simple framework can help you achieve a balanced life and set you up for long-term financial success. If you have any other money management advice—share it in the comments below!

🌟 Ladies, are you ready to take control of your finances? Here are the top 5 financial planning tips for women to help you secure a prosperous future: 1️⃣ Set clear financial goals: Take the time to define your short-term and long-term financial goals. Whether it's saving for a house, starting a business, or planning for retirement, having clear objectives will guide your financial decisions. 2️⃣ Create a budget and stick to it: Track your income and expenses to understand where your money is going. Creating a budget will help you prioritize spending, save for the future, and avoid unnecessary debt. 3️⃣ Build an emergency fund: Life is full of unexpected expenses, so it's crucial to have an emergency fund to cover any financial setbacks. Aim to save at least three to six months' worth of living expenses in a separate savings account. 4️⃣ Invest for the future: Don't just rely on traditional savings accounts – consider investing in stocks, bonds, or mutual funds to grow your wealth over time. Start small and gradually increase your investments as you become more comfortable with the process. 5️⃣ Educate yourself about finances: Take the time to learn about personal finance, investment strategies, and retirement planning. Knowledge is power, and the more you know, the better equipped you'll be to make informed financial decisions. By following these top 5 financial planning tips, you'll be well on your way to achieving financial independence and security. Start taking control of your finances today! 💪💰 #FinancialPlanning #WomenAndMoney #Empowerment #SecureFuture

You’ve worked hard for your money. How do you find someone you trust to help you manage it? When it comes to finding an advisor, there are a lot of options out there. In fact, there are a lot of titles out there—financial advisor, wealth advisor, investment advisor, portfolio manager, just to name a few. How do you even begin to compare what seems like apples to apples? When looking for an advisor, a lot of people look at cost first; they choose an advisor based on who has the lowest fees. I think this approach is backwards. You should always start your search by looking at your financial needs and objectives. Then find an advisor who fits those needs. When you were 30 years old, you probably had one primary financial goal: growth. So you needed an advisor who could look at how much money you had, how much risk you could afford to take, and tell you what investments would help grow your savings. As you got older, some financial complexity was likely introduced into your life. Maybe you started a business. Maybe you got divorced. Maybe you started planning for retirement. That complexity should drive specialization. If you needed heart surgery, you wouldn’t go to your family doctor. You would see a heart specialist. So if you have any complexity in your financial situation, I would be cautious of the advisor who says, “I do it all.” You need someone who has the specific knowledge and experience to help you navigate your unique set of circumstances. If you want to learn more about how the Popowich Karmali Advisory Group can help you plan for retirement, attend our upcoming seminar! Register at: https://bit.ly/4fkhnG8

When we think of cashflow we generally think of assets that produce income and this is the creme de la creme of financial freedom. In the instance of property management this would look like the moor doors per property you have paying you each month. However, there is another form of cashflow that all of us deal with. That is money deposited into our bank accounts, bills paid, food, fuel, and then a portion put into savings. With the rest simply "disappearing" into consumer products, subscriptions, daily coffee, energy drinks, or what have you. Now, I am not getting on anyone about the small purchases they make, or cutting 10-100 dollars back a month in a some "limited mindset" idea of save what you can when you can. I want to talk about restructuration how we "pay ourselves first." By exploring our "money flow", how and where our money goes before it is spent, we can actually grow our assets and paydown debts faster than what would traditionally be thought possible. It's late so I will post more about this tomorrow, but in this day and age we really need to think about how our money flows from our income being deposited to our bills being paid. With cash value life insurance and other strategies, we can focus on changing the mechanics of how our money works. Check the link out below for more. https://lnkd.in/gbSGggcr

How to Spend Money When You Are in Your 20s – 40s? 🤔 I have a very simple structure for it. It is broken down into the 50/20/30 rule, which is: 📌 NO MORE THAN 50% of your earnings should go towards your BASIC NEEDS. These are your essential expenses such as rent, utility bills, and groceries. 📌 AT LEAST 20% should go towards a Financial Foundation. This means life insurance, emergency funds, retirement savings, child savings accounts, and any other form of UNTOUCHABLE long-term savings. This money is reserved for your future—a fallback fund you never touch until you reach an age where you cannot work anymore, and it's the money you rely on. 📌 THE REMAINING 30% is for the expenses you choose to create comfort and enjoyment in your life. Once you start living with this rule, where you force yourself to spend only 80%, you will reach a point in life where you believe you WILL NOT be able to spend any more of it. And that's when your saving ratio will increase. Remember, a penny saved is a penny earned! So budget yourself, do the math, and start saving AT LEAST 20% of whatever you earn from now to secure a better future. Otherwise, you're certainly heading for trouble, or even worse, you're already up the creek without a paddle… Speak to a Financial Advisor today to learn more about how you can allocate 20% of your savings towards a Financial Foundation smartly! 💯

I once believed saving money was something only the rich could master. But the truth is, anyone can set up an automated savings system and take control of their financial future. I know it sounds overwhelming, but let me break it down for you in simple steps: 1. Start by defining your financial goals. 2. Create a budget to understand your income and expenses. 3. Determine how much you can realistically save each month, aiming for at least 10% of your income. 4. Set up automatic transfers from your checking account to your savings accounts to make saving effortless. 5. Choose the right savings accounts based on your goals, whether it’s an emergency fund or retirement savings. 6. Keep your savings separate to avoid temptation and unnecessary spending. 7. Regularly monitor your progress and adjust as needed. These steps can help you build a safety net, avoid debt, and work towards long-term financial stability. The hardest part is getting started. Are you ready to take this first step towards financial responsibility? Just reply "START" and I’ll send you a detailed guide to help you kick off your automated savings system. Let’s build a brighter financial future together.

What should you be doing right now with your money…. What accounts should you be opening? Closing? Saving? Truth is – It is different for everyone. 💎 You may need liquidity for short term goals. 💎 You may be looking to put money into retirement buckets to stash away. 💎 You may be diversifying your asset location and looking for something different. All are viable answers. So how do you know which is right for you? OR If all are right for you? Talk with a professional who has experience and worked with this before. Not someone who will shove a product in your face and tell you it will solve every problem. Someone you Like and Trust. Personally, I have discussed finances with over 1,000+ people. I know the worries, the goals, the ideas, etc… that most people have! Am I perfect for everyone… No. Why? Because I am honest. I care for my clients and for some that is a tough pill to swallow. If you are open to it… Let’s have a no obligation discussion about finances, investing, and goals. I’m Nick – Helping others pursue success with less burden of financial stress – making more time for what matters most. Book a conversation with me through the button in my bio or shoot me a message! 👋🏻