Good Financial Reads: Advice for Smart Saving and Spending

Advice for Smart Saving and Spending

Consider Tax Diversification when Saving for Your Future

by David Barfield, Datapoint Financial Planning

Ever think about the best account types to save for financial independence, retirement, and long-term goals? I’m talking about tax-deferred, tax-free, and taxable accounts, specifically.

Tax-deferred accounts are your typical savings vehicles for pre-tax dollars, like your company 401k pre-tax option where you get a current year tax deduction for any dollars you contribute.

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Match Your Spending with Your Values

by Joe Morgan, Best Financial Life

There is a lot of talk these days about aligning your investments with your values. But what about your spending? We are hard wired, it seems, to pay little to no attention to our spending.

Perhaps in the moment of payment or a time of later regret, we might think about where our money is going. But during regular daily life, it seems our money flows away from us with little check against what we truly want.

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Where to Save Your Next Dollar

by Matt Elliott, Pulse Financial Planning

Saving money is only half the battle when it comes to managing your finances effectively. Where you put that money has an immense impact on reaching your long-term financial goals.

Do you keep money in the bank, pay off debt, or invest it one of a variety of tax advantaged accounts? Failing to make the right choice can result in leaving cash on the table, tax inefficiencies, and excessive interest expenses. By following the Order of Saving Priorities (below), you can optimize the effectiveness of each incremental dollar you save.

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Setting Savings and Spending Goals with the 50-20-30 Rule

by Massi De Santis, DESMO Wealth Advisors

How much you contribute towards your goals (your saving rate) is a key determinant of financial success, more so than your investment returns. However, disciplined saving is hard to implement, particularly with many competing needs and wants, and a busy life. One tool to help you get started is the 50/20/30 rule. 

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Create a Spending Plan

by Joe Morgan, Best Financial Life

If you want to do everything you want in life and then die with a dollar in your bank account or whatever amount you want to leave your kids, there is a simple equation.

It’s what you have plus what you make minus what you spend.

[Watch the Video]


Following along with the blogs of financial advisors is a great way to access valuable, educational information about finance — and it doesn’t cost you a thing! Our financial planners love to share their knowledge and help everyone regardless of age or assets.

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