January 30, 2017

Tom Sirois On How To Manage Personal Finance

For more than 20 years, Tom Sirois has endeavored to share his insights on personal finance to help people manage their finances. He is active on Facebook where he regularly engages his followers on money management skills. His Yelp profile can also be resourceful for those who wish to follow his insights closely. His experience in the mortgage and finance sector as well as his in depth knowledge and skills in money matters makes him one of the most respected financial advisors in the country. According to Tom, one should observe the following personal finance rules so as to achieve financial independence. 

Come up with a plan
A comprehensive financial plan will go a long way to help you stay grounded. It is in fact, one of the best ways to improve the quality of your lifestyle.  Be smart and start exploring ways that can help you protect your assets and financial resources.  That way, you can reduce future uncertainties significantly. TOM SIROIS notes that you can avoid debts only through control of your financial affairs.  With a comprehensive financial plan, you can avoid bankruptcy and depending on others for financial security. 

Tom further advises that a comprehensive plan can also improve the quality of your personal relationships. You can then have an easy way communicating with anyone who may be affected directly and indirectly with your financial decisions. As you develop a plan and see it come into fruition, you will attain a sense of financial freedom. Your decision making skills will also improve because you will have to make hundreds of money decisions daily.  With a good plan, your personal financial matters should be able to address three crucial needs.
·         Spend – your plan should make it easy for you to spend on things that matter the most. In other words, your plan should help you to know when and how to prioritize your needs.
·         Save – what is left after you have taken care of all pressing needs? Address this question then start saving. You should however note that the best way to save is to have an automated system that can make prompt deductions from your income and save some amount before you can start spending.
·         Share – consider what you share as the surplus from what is left after you have saved and spend what you need to.

Fulfill your goals
This can be easy if you have a plan that is realistic. With such a plan, you should be able to set financial goals that can you can fulfill without struggling. Tom advises that the goals you come up with should be developed according to your current situation.  In other words, be realistic and observe your income and expenditure trends before you can set financial goals. The goals should not deprive you your comforts or force you to live a hard life. You should have access to quality food, decent housing and enjoy your social life with friends and loved ones.
Once you have your goals in place, make a habit of reviewing the goals on a consistent basis. This will help you note where you have tripped and where you need to make prompt adjustments. In the end, you will find it easy to fulfill both long term and short term financial goals. 

Come up with alternatives
These are Plan B’s. TOM SIROIS advises that following your financial plan without alternatives is not a smart move.  He notes that you should be able to analyze and assess your plan so as to know what to expect each time you make a decision. You may have to make rushed decisions which can easily have an impact on your lifestyle and plan. With a good alternative, you will get back on your feet without hurting your finances or without feeling like you have taken a thousand steps back. He further points out that your plan B should be easy to implement within a short time. 

Day to day expenditure
This has a lot to do with your spending habits. Tom explains that your purchase power has a direct link with the rise and fall of inflation. Therefore, your decision to spend on any time should be based on the cost of that item and the kind of impact such expenditure will have on your plan. In a nutshell, make purchases and spend on items that last. The items should also have positive long term effects on your finances.

January 11, 2017

Tom Sirois on personal finance!

TOM SIROIS offers simple tips for efficient money management. You will not want to be perfect to be rich. You will not want to be a smart person to become rich. If you set your goals and forget about them, your goals are not achieved. There should be consistent efforts to realize your dreams. You should generate a system so that the money will be saved automatically. In this process, you will invest in right places so that the money will grow automatically and the risk will be minimized.

Minimize your expenses

There will be sufficient funds to spend on various aspects so that there will not be any issues. You should enjoy true financial freedom. To invest wisely, you will not want to go through the voluminous information. The golden rule is that your expenses should always be less than your earnings. You will not fall into debts when you minimize your expenses.

TOM SIROIS says that if you go into debts, the debts will siphon off your savings. On the other hand, you will not have funds to handle emergencies. When debts increase, you will go through a situation where the interest paid on debts will be very high and it will impact the quality of life as well. To start savings, you will not want to go through the compound interest charts. High level of financial education is not required.

You should have the willingness to think about money. By applying your mind to save in different forms, you will have great prospects to save money on a monthly and annual basis. If you go through the conventional money advice, there will be a great deal of frustration. You will be confused to apply the right strategy. When you create an automated system, you will spend less and the savings will increase.

Saving money painlessly

You should be able to save money without any pain. There should not be any impact on the family members in your endeavor towards better savings. The supply of household items will not be halted. You will not put a full stop to reasonable comfort that you will enjoy at high. There will not be any
relationship issues when you follow the simple and effective steps suggested by TOM SIROIS.
Beginners will be able to invest on items where great returns are guaranteed. It is possible to eliminate debt in the best possible way so that there will not be any issues. You will come out of debts in a painless manner. You will understand ways to take your money to the next level through prudent saving options. The skills that you derive through the systematic education will help you manage your finances in a better way, and there will be absolute satisfaction.

Saving without restrictions

When you follow the tips offered by TOM SIROIS, you will be able to save without any limitations. You will not want to forgo vacations. You will not want to withhold buying your favorite items. When you place systems in place, there will not address any issues. You will not want to beat the market to invest your money.

You will enjoy many benefits when you can save money for the future. It is possible to help your parents to save money for their retirement. You will build a system so that the money will work while you are sleeping. You will implement best strategies to save money and pay your bills without any issues. The investment options are hassle-free, and it will be done automatically.

You will enjoy life’s guilty pleasures, and the saving will take place in a painless manner. If you have a credit card debt, it can be cleared very easily by following the best strategy.

Tapping the hidden income

The money that you are throwing away on every month will let you get into unfair advantage. When extra cash flows into all your accounts, you will be able to manage many things in an effortless manner. By spending less, there will be more money to invest. You will not go through strict budgets so that there will not be any compromise on your vacation.

TOM SIROIS will let you understand the fact that there are two ways to have more money. On the other hand, you can cut down your expenses. If you can manage best negotiation skills, there is scope for significant savings.

You will not want to cut those things that you love, and you will avoid those things that you hate. By following best negotiation practices, you will pay lower prices. There will be lower prices on bank & credit card fees, car insurance and cell phone. If you can cut down few 5 minute phone calls, there will be great savings. TOM SIROIS will teach you easy ways to save money on car insurance and cell phone bills. Saving thousands of dollars on an annual basis is possible.

It is quite common that most of the customers will choose the insurance premium and they will not go through the details. If there is coverage which will not serve your interests, you will pay a fraction of the insurance in an unprofitable way. If you can eliminate the unwanted component from the insurance premium, you can save hundreds of dollars every year.

Right coverage

Before purchasing an insurance plan, you should go through your requirements. You can also go through the reviews presented by experts so that your needs will be fulfilled in the best possible way. You should go through the current plan. You should spend time and effort to go through the details. If you are aware of the current coverage, you can take steps to save money. If you visit the official website, you will understand various riders through which the coverage can be increased. On the other certain riders which are not relevant to your circumstances should be unsubscribed. Thus, there is great potential to save money on insurance premium. Similar logic can be applied to your personal insurance as well.