4 Bad Spending Habits You Need to Break Right Now to Save Money

If you are unable to save money despite having a reasonably high salary, you could be wasting it on bad spending habits. Many people admit to doing the following spending habits: 

1. Shopping when there’s a sale.

A sale gives you the illusion of spending less money. A sale can also be tricky because it can lure you into buying stuff you don’t really want or need. Some sales might also require you to buy another item to get the discount so instead of saving, you’re actually spending more.

2. Buying on an impulse.

Impulse buying or buying without planning is a big reason why you’re not saving enough money. When you buy on a whim, you are unable to be smart on your buying decisions and end up buying stuff you don’t need.

3. Buying stuff and not using them.

How many times have you bought fresh produce only to have them rot in your pantry or fridge because you were unable to use them before they perished?

4. Shopping only premium items.

Premium items cost an arm and a leg. Sadly, we live in a world where brand is such a big driving force. Many products have the same features, results and functions but differ in price due to brand name. If one brand is more recognized, it tends to cost more as a means of compensating for advertising costs.

Becoming more vigilant in buying is one step towards reaching your financial goals. Do Financial Planning in Vancouver with the help of experienced financial planners such as Chalten Fee-Only Advisor. Financial planning in Vancouver helps you avoid common spending mistakes. 

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3 Signs You are in Need of a Financial Planner

Hiring the services of an experienced financial planner in Vancouver may actually do you a lot of good. So many people try to manage their finances by themselves without seeing much success. The sooner you hire a financial planner in Vancouver, the better.

Here are some signs that say you already need the services of a professional financial planner:

1. You have debts that are adding up.

Are your acquired debts more than your monthly income? You could be in danger of bankruptcy. If you’re having a hard time paying off your credit card bills and monthly mortgages, you are definitely in need of financial planning help.

2. You have a big change in your life.

A recent divorce or welcoming a new baby brings many changes in your life. That includes changes in your financial standing. A divorce can render you incapable of financing yourself while a baby will require more rigorous financial planning. These life hurdles and changes can put a stress on your finances.

3. You have money that is sitting in a bank, unused.

Do you currently have a large amount of money that is just sitting in a bank somewhere? You can invest that money and double it with the help of a financial planner. Many people are wary about investing because they could end up losing their money on a bad investment. Getting investment advice from experts such as Chalten Fee-Only Advisors will ensure you are getting sound advice on putting your money elsewhere.

Find out of you have any of these 3 signs. If you do, get in touch with a good financial advisor right away.

To know more about Investment planner in Vancouver BC Please visit our website:chaltenadvisors.com/

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3 Common Millennial Money Mistakes to Avoid

Millennials are the people born in the 80s or the 90s. By this time, much of the younger end of our work force are made up of millennials. And due to this relatively new experience in the work industry and also because of exposure to a variety of influences such as social media, spending could become a habit and could get in the way of financial planning.

Many millennials admit to making the following money mistakes:

1. Not taking the chance on investing

There are a lot of millennials who think investing is only for the rich, the old and the more financially stable. But letting your money sit in a bank somewhere or spending it on things with a depreciating value is a loss. Talk to a financial advisor in Vancouver such as Chalten Fee Only Advisors about how you can start investing your money on more profitable ventures.

2. Not sparing money for emergency funds.

Build an emergency fund as early as you can. You may be young and able today but you never know when an illness will incapacitate you or a sudden expense in the future can render you broke. An emergency fund is also helpful during days when you are thinking of finding a new job.

3. Living an expensive lifestyle

It’s so easy to succumb to an expensive lifestyle because we now live in a world where everything is highly commoditized. Spending on premium items to impress people and living above your means will surely become a life-long regret.

This is the best time to earn, save and invest your money. Talk to a financial planning in Vancouver and find ways on how you can retire early, save more money and invest properly. 

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Financial Advices for Women Who Are Going Through Divorce

Going through a divorce is never easy. It is not only emotionally, physically and mentally draining, it also affects your financial health. This is true especially for women who have opted to stay at home to take care of the kids and have relied on their husbands for financial support in the past years.

These are the following financial advices you need to take to secure you and your kids’ future:

1. Do separate from joint accounts right away.

Got a joint bank account? Separate your money right away. What about a joint credit card? Call the bank and let them know you are going through divorce. This way, you can prevent the other party from using up your account’s credit limit and letting you pay for half of it, which really happens in real life.

2. Get professional help.

When it comes to Financial planning services in Vancouver, the best possible action for you is to get professional advice. Hire financial advisors such as Chalten Advisors. It’s a chaotic time in your life so it can be difficult to handle your financial affairs with a clear mind. A financial advisor can offer you the best advice on how you can pay off debts, live on your current means and how to invest your existing money to make profit.

Also get legal help. You would want to get as much financial support as you can to help you get back on track. Legal help can also stop you from signing documents that might put you at a disadvantage.

3. Start listing down your daily expenditures.

If you are not doing this yet while married, it’s time to do it now that you are divorced. You would want to know where your money goes so you can control your expenses and make the right spending moves.

You can get through this with help from Financial advisors at Chalten Fee-Only Advisors. Don’t hesitate to look for the best financial advisors to help you out with your financial planning post-divorce.

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3 Basic Things You Should Know When Looking for a Financial Adviser to Hire

While the average person these days has access to financial services that do not require huge tax responsibilities as well as lofty fees, it’s so easy to mess your financial matters up by putting your money or getting indebted to shady companies. Hiring someone who has the know-how in this department just might be the only thing that can save you from bankruptcy.

When hiring a financial adviser, here are the things you should keep in mind:

1. Know what type of financial guidance you need.

Knowing what advice you really need can help you find an advisor that specializes in your need. For instance, if you need help in paying off debts or improving your credit score, a financial advisor who has expertise in this area is needed. For those looking to invest their hard-earned money, hiring fee only Specialist financial planners in Vancouver can help you safeguard your interests.

2. Know how your financial adviser gets his or her income.

Some financial planners do not only get their income from giving you financial advice but also through commissions on selling investment products. This might get in the way of offering you the best and the most unbiased advice as the financial adviser might only be trying to get you to invest so they can also earn money. This is where fee only financial planners in Vancouver such as Chalten Advisors are most helpful. You can get the most objective advice from them.

3. Know what credentials to look for.

The array of credentials many financial advisors include in their portfolio might be confusing. Just make sure the one you are hiring has either of the two basic credentials – RFP (Registered Financial Planner) or CFP (Certified Financial Planner).

Once you find the right financial planner, you should be on your road to becoming more financially stable.

To know more About Chalten Fee-Only Advisors Ltd please visit our website: chaltenadvisors.com

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