Financial Expert Marion G. Cuff, CFS: Managing Money


Make text smaller Make text larger



Photos



  • Marion G. Cuff, CFS





What are some tips for managing my money?


As with virtually all financial matters, the easiest way to be successful with a cash management program is to develop a systematic and disciplined approach. Spending a few minutes each week to maintain your cash management program, can help you to keep track of how you spend your money and pursue your financial goals.

Any good cash management system revolves around the four As - Accounting, Analysis, Allocation, and Adjustment. Accounting quite simply involves gathering all your relevant financial information together and keeping it close at hand for future reference. Gathering all your financial information — such as income and expenses — and listing it systematically will give you a clear picture of your overall financial situation.

Analysis boils down to reviewing your financial situation once you have accounted for all your income and expenses. You will almost invariably find yourself with either a shortfall or a surplus. Ideally, you should be spending less than you earn. Allocation involves determining your financial commitments and priorities and distributing your income accordingly. One of the most important factors in allocation is to distinguish between your real needs and your wants. If you need to reduce your expenses, you may want to start out by cutting back on your discretionary spending. This can help to free up cash that can either be invested for the long term or used to pay off fixed debt.

Adjustment involves reviewing your income and expenses periodically and making the changes when necessary. Above all, be flexible. Any budget that is too rigid is likely to fail.

Using the four As is an excellent way to help you monitor your financial situation to ensure that you are on the right track to meet your financial goals.

IMPORTANT DISCLOSURES Working with an advisor that holds the CFS designation does not guarantee investment success. Securities and Investment Advisory services offered through FSC Securities Corporation, Member FINRA/SIPC and a Registered Investment Advisor. The Grace Financial Group is a marketing designation.

Broadridge Investor Communication Solutions, Inc. does not provide investment, tax, or legal advice. The information presented here is not specific to any individual's personal circumstances. To the extent that this material concerns tax matters, it is not intended or written to be used, and cannot be used, by a taxpayer for the purpose of avoiding penalties that may be imposed by law. Each taxpayer should seek independent advice from a tax professional based on his or her individual circumstances.

These materials are provided for general information and educational purposes based upon publicly available information from sources believed to be reliable—we cannot assure the accuracy or completeness of these materials. The information in these materials may change at any time and without notice.

Marion G. Cuff, CFS
128 Seneca Lake Road, Sparta, NJ 07871
973-729-9861
Ask Marion G. Cuff, CFS a question
www.thegracefinancialgroup.com

Come in out of the storm; take care of your money and yourself




Make text smaller Make text larger

Comments

Pool Rules



MUST READ NEWS

Where in Sparta?
Do you know where this photo was taken? If so, go to www.spartaindependent.com, click on the Fun & Games tab and post your...
Read more »
Image

Where in Sparta?
The answer to last week's photo clue is Sparta Block on Woodport Road. Katharina Cohen, Sig Binder, Mike Jaretsky and Coco Levine answered correctly.
Read more »
Image

Hospice holds 'Celebrate Life' walk
— On September 29, 2018, Karen Ann Quinlan Hospice will host the third annual “Celebrate Life 5k Walk.” The walk,...
Read more »
Image

Sparta Chess Club turns 17
— The Sparta Chess Club will open its 17th season next week in the five Sparta schools. The club has an uphill climb this year to...
Read more »
Image

VIDEOS



Subscribe to our mailing list

* indicates required
Community Newspapers



MOST READ

Local News
Group donates backpacks to students
  • Sep 18, 2018
Local News
Cutting and grooming for decades
  • Sep 17, 2018

MOST COMMENTED



Find more about Weather in Sparta, NJ