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Personal Money Management

Wealth Management


Personal money management strategies provide individuals the financial controls necessary to prepare you and your family for major life events, such as employment changes, home or auto purchases, sending your children to college, and retirement. An effective and sustainable money management strategy requires financial self awareness, a long-term orientation toward saving and investing, and the discipline to follow-through with a clearly defined set of financial goals.
During any step of your money management strategy planning, working with a certified financial planner could prove beneficial in the process. Atlantic Financial professionals can help you gather relevant financial information, set life goals, and examine your current financial status. At Atlantic Financial, we have financial planners who are available to help you establish a money management strategy or plan for how you can meet your financial goals, given your current situation and future plans.
The important first step to developing a workable personal money management strategy is to assess your current financial situation. First, determine your current net worth, taking into account all sources of income and expenses. Then, identify areas where you can reduce your expenses. It’s important to know how much debt you are carrying, and at what rate of interest. Also, determine how much of your income you are saving, conduct an inventory of your investment vehicles, and make an assessment of your actual returns. It’s advisable to work with a certified planner to complete your personal financial inventory.
Also a crucial aspect of executing money management system is setting clearly defined financial goals. Ask yourself: What goals are you working toward? How much will you need to achieve them? Are you on the right track?
Assessing your tolerance for risk is required in managing a sustainable money management system. Remember that an effective money management strategy takes full advantage of savings and investment strategies. Take advantage of retirement savings offerings by your employer, through 401(k) plans. Any financial planner will tell you that it’s wise invest for the long term, so it’s best to try not to be influenced by short-term market fluctuations. Finally, it’s a good idea to continually review your financial plan to identify areas that need adjustment, whenever your needs or circumstances change.
Atlantic Financial money management advisers are eager to help you develop a money management strategy that is tailored to your individual needs. We offer a wealth of money management resources and certified financial planning services for our clients. Call us today to find out about our wide array of personal money management services.


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