Managing Your Finances- Takeaways

By Andrea Young on November 17, 2022

Money can be stressful for many, especially when the economy has ups and downs like this past year. The rising cost of gas, food, housing, etc., has forced many to look closely at their financial situation. We were fortunate to have Kerry Luria of Lexington wealth share some helpful and practical insights into managing your finances.

Start Early

You would think saving early would be obvious, but so many don’t. There is no set number when it comes to saving, so even if you don’t have a lot to put away, even the littlest bit helps. Also, by teaching your children to save when they are younger, you will help set them on the path to financial success. 

Budget

No one wants to budget, but certain circumstances can call for it. Whether you’ve fallen on hard times due to Job loss, an illness, an injury, or maybe you want to save for a big purchase, budgeting can help. It’s always wise to go over bank and credit card statements. You may realize that you’ve been spending a lot on going out to eat, or you have accumulated multiple subscriptions to streaming services that you don’t use anymore. When you can see where your money is going, it will help you to cut back. One thing to consider when spending is, do I need it or do I want it? If it isn’t something you absolutely need, then it might be something you can put off.

Get Support

Working with a financial advisor can help you realize your financial goals and how to achieve them. In addition, they can help you determine how much you will need to save for your retirement to live the life you want.

HighTower Advisors, LLC is a SEC registered investment advisor 

Lexington Wealth Management is a group comprised of investment professionals registered with Hightower Advisors, LLC, an SEC registered investment adviser. Some investment professionals may also be registered with Hightower Securities, LLC, member FINRA and SIPC. Advisory services are offered through Hightower Advisors, LLC. Securities are offered through Hightower Securities, LLC. This is not an offer to buy or sell securities. No investment process is free of risk, and there is no guarantee that the investment process or the investment opportunities referenced herein will be profitable. Past performance is neither indicative nor a guarantee of future results. The investment opportunities referenced herein may not be suitable for all investors. All data or other information referenced herein is from sources believed to be reliable. Any opinions, news, research, analyses, prices, or other data or information contained in this presentation is provided as general market commentary and does not constitute investment advice. Lexington Wealth Management and Hightower Advisors, LLC or any of its affiliates make no representations or warranties express or implied as to the accuracy or completeness of the information or for statements or errors or omissions, or results obtained from the use of this information. Lexington Wealth Management and Hightower Advisors, LLC assume no liability for any action made or taken in reliance on or relating in any way to this information. The information is provided as of the date referenced in the document. Such data and other information are subject to change without notice. This document was created for informational purposes only; the opinions expressed