Jay was quoted on some financial planning best practices for couples starting (or thinking about starting) a family. Have you considered how your financial health will change with a growing family?
“One way to manage new budgeting items is to create a detailed spreadsheet of what’s coming in (inflow) and what you expect to be going out (outflow). From there, you can separate your outflows into buckets to determine where you can scale back or eliminate items you might not really need, said Jay W. Rishel, a Certified Financial PlannerTM (CFP) with Overman Capital Management who specializes in working with young families. “Luckily, there are apps out there that automate some of this,” he added. One he likes, Truebill, can help you see what your spending and income looks like on a weekly, monthly, and quarterly basis, which can be a good motivator to change some of your spending habits." Read more of Jay's thoughts on the subject by clicking the link below.
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