How can I create a budget and stick to it?

A spending plan can begin with an individual looking back three to six months, categorizing where their money is being spent into groups such as food, rent, entertainment (among others) and total how much they have spent month over month. Once you have your financial history understood, forecast what amounts you’d like to spend in each category; this is budgeting. You can also set goals in your budget such as move $100.00 to your savings, or decrease your total spend by 20%

How can I reduce my debt and improve my credit score?

A great debt plan will understand the current debt picture and understand which debt is the most expensive (highest interest). Based on your budget from here you can plan to pay off your debts in a manner that makes the most financial sense.

How can I save and invest for my future?

Start small, put away money in amounts you agree to in advanced, then make it a goal to increase the amount you are saving. Do this by reducing expenses or increasing your income. From there you’re on your way to grow your savings.

What types of insurance should I consider to protect my assets?

There are many policies such as umbrella policies, which will cover damages over your other existing policies, and business insurances to protect owners from damages caused by the business. Speak to your insurance professional to understand what policies can protect the assets you have in mind.

How can I pay for my children's college education?

Student loans come in a variety of instruments, from standardized loans, subsidized loans from the government, or private loans. Choosing the right one depends on your financial situation. 

How can I make the most of my tax deductions and credits?

Make sure to speak with your tax professional if you are looking to optimize your tax strategy and getting the most out of your tax return.

About the Author

Kal Salem

Kal Salem

MA Accounting - Arizona State University

A CPA and finance professional working with small businesses to educate owners and grow alongside their businesses. He holds a Masters in Accounting and a BS in Supply Chain Management. Owner at Salem CPA Services LLC.

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