Lesko Financial: Quick, Fast Finance TipsPosted: Updated:
Briana: Many people avoid working on their finances because they fear it’s too hard or takes too long. But Greg Lesko from Lesko Financial has some quick tips to make it easier.
Greg: Maybe you began the year with the best financial intentions but got off track. Now, you’re procrastinating there are so many things to enjoy this time of year that plans to manage your money better always end up at the bottom of the list. But what if you could feel good about your finances in just five minutes? Here are tips that could help. First, write down a few goals. Don’t make the list too long or complicated--just one or two things you’d like to see happen.
“Saving five hundred dollars by the holidays” is one idea. “Opening a retirement account” could be another.
Briana: What do you do once you have these goals?
Greg: Find one thing in your usual spending to eliminate. Is it fewer entertainment channels? Packing your own lunch? Passing up specialty coffees? Limit yourself to just one item and remind yourself that it isn’t forever just until you achieve those goals. Next, remove temptation. Stop receiving online offers and catalogs in your email. Mark them as “spam” and don’t even browse.
Briana: Any tips on growing your savings?
Greg: Yes automate it. Direct your bank to put money into a savings account when you get paid. Think of that money as “off limits.” You can also automate an investment account if you want to make your money work harder and build wealth. All of this should take just a few minutes and be a great confidence booster about your ability to manage money.