March 20, 2017

Tom Sirois’ 4 Golden Rules On Money Management

Tom Sirois has been described by many as one of the most competent financial advisers in the Country. That can be understood as he has more than 20 years of bank management experience. He has worked with local branches like Banknorth Massachusetts and Fleet where he served as a mortgage manager. Over the years, he has interacted with both local and international investors an experience that has seen him earn strong connections in the local financial community.

Tom’s banking experience taught him firsthand how present-day consumers and sizeable business owners often buy products not because of their respective needs but because of concerted efforts by manufacturers to make profits. He soon noted that individuals and local families could benefit from detailed objective advice in regard to money matters.

Raised in a family of 15 with a mother who was keen on debt handling, planning and budgeting, Tom realized at a very early age the value of money management. He has a degree in Economics from Skidmore College, NY. He furthered his studies at College of St.Rose in Albany where he majored in financial planning before joining Boston University School of Finance. He lives in Stockbridge with Michele, his wife and their three children.

According to Tom, efficient money management should be fun and easy. He notes that you do not have to go for perfect money management tips to be rich or to attain financial independence. He believes that one should be able to generate a personal system where money can be automatically saved. He believes that this can be achieved through the following tips.

Minimizing expenses

As far as minimizing expenses is concerned, Tom believes in one golden rule; that your expenses should at all times be less than your earnings. While this sounds like a cliché rule to many, Tom points out that it is by far one of the most effective money saving tips. He adds that one must also be willing to think about money in a positive way so as to come up with a smart and automatic savings system.

Saving money painlessly

Tom agrees with respected financial advisers that you should be able to save money without any pain. In other words, there should not be any form of impact on your social life or on the lifestyle of your immediate loved ones in the name of saving. Home supplies should not be affected. To make your savings easier, you should invest in items that can guarantee high returns.

Savings without restrictions

Tom Sirois explains that you do not have to forego your vacations in your pursuit for financial independence. Your children do not have to play without their favorite toys either. Your best bet is to therefore come up with a system that will enable you to save and spend a little on entertainment and other social issues.

Spend wisely

This sounds like a cliché yet again. But like you will learn with time, spending wisely is like learning a new artistic skill. It is hard at first but easy as time goes. All you need to do is be disciplined. Tom therefore advises that you should be keen on the amount of money you spend every month on things that do not matter. This, he says will eventually see you run bankrupt. He asserts that spending wisely is all about coming with a budget for everything. He then adds that there are two main ways to have more money. One is by cutting down expenses and the other is by saving.

To achieve the above mentioned ways of making more money, you must have impressive organizational skills and be disciplined. These are skills that can be acquired over a short period of time. You only need to be consistent and stick to your rules to the last word. You also need to be realistic with your goals and be keen on expenses like insurance and mortgage. He supports seeking assistance from other financial experts where one feels stuck.

Tom is active on social media especially on Facebook where he occasionally shares money management weeks. He also has a good rating on Yelp especially from people who have in one way or another benefited from his advice.

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