Wealth Management Advisors Brookings SD

I hope you can help. What does an independent, savvy single woman do when most of her single income is tied up in a mortgage and living costs? On the one hand it's great to be financially independent, but it doesn't leave anything left over to socialize and meet potential partners. Any advice would be gratefully appreciated.

Dr. Kathryn J. Morrison, CFP®
(605) 688-5196
Box 2275A
Brookings, SD
Firm
South Dakota State University

Data Provided by:
Mr. Tracy R. Odegaard, CFP®
(605) 692-1814
419 8th Street South
Brookings, SD
Firm
TRO Investments Inc.

Data Provided by:
Wells Fargo Advisors
(605) 692-5501
309 4th St
Brookings, SD

Data Provided by:
Ms. Sarathi Giridhar, CFP®
(605) 225-1047
320 6th Avenue SE
Aberdeen, SD
Firm
Schwan Financial Group, LLC
Areas of Specialization
Estate Planning

Data Provided by:
Ms. Marla A. Starr, CFP®
(605) 352-0691
110 3rd St SW
Huron, SD
Firm
Ameriprise Financial

Data Provided by:
Mr. Erich L. Olson, CFP®
(605) 692-6643
307 6th St.
Brookings, SD
Firm
Thrivent Financial for Lutherans
Areas of Specialization
Insurance Planning, Investment Management, Retirement Planning
Key Considerations
Average Net Worth: $500,001 - $1,000,000

Average Income: $50,001 - $100,000

Profession: Not Applicable

Data Provided by:
Wells Fargo - Brookings
(605) 692-6245
527 Main Ave
Brookings, SD
Type
Branch
Office Hours
Mon-Fri 07:45 AM-06:00 PM
Sat 09:00 AM-01:00 PM
Sun Closed

Richard Kahler
Kahler Financial Group
(605) 343-1400
1010 9th Street, Suite 1
Rapid City, SD
Expertises
Real Estate Investments, Ongoing Investment Management, Helping Clients Identify & Achieve Goals, High Net Worth Client Needs, Retirement Planning & Distribution Rules, Planning Issues for Business Owners
Certifications
NAPFA Registered Financial Advisor, CFP®, ChFc, MSFP

Mr. John D. Wenande, CFP®
(605) 977-2709
200 E 10th St Ste 500
Sioux Falls, SD
Firm
Eide Bailly LLP

Data Provided by:
Mr. Douglas E. Amen, CFP®
(605) 335-7949
310 S Conklin Ave
Sioux Falls, SD
Firm
Douglas E. Amen, P.C.

Data Provided by:
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So Many Living Expenses There's no Money Left for my Life!

Q: I hope you can help. What does an independent, savvy single woman do when most of her single income is tied up in a mortgage and living costs? On the one hand it's great to be financially independent, but it doesn't leave anything left over to socialize and meet potential partners. Any advice would be gratefully appreciated... -KLM, Australia


 

First congratulations for being a home owner! That is very savvy of you. With that being said, you don't want to be in a situation where your finances are so tight there is no room to breathe or socialize!

Start by coming up with a realistic number of how much extra you need a month. Once you have that number, you can start looking for it in other places in your budget. Perhaps you can bring your lunch to work, so you have extra money to go out at night. Or maybe you don't need your cable TV or other monthly subscriptions we tend to forget about. You can also carpool to work to help with commuting costs.

The next place to examine is your fixed expenses. Do you have a gym you aren't using? Or are your car payments too high? If so, consider a less expensive model. If you carry credit card debt, the interest payments can really weigh you down as well. Deal with the debt and eliminate it as fast as you can.

On a final note, if your mortgage is too much to handle right now, perhaps you need to refinance and get a better rate. Or consider moving to another home where your payments will be less.

These are all great habits to integrate whether you are single or in a relationship!


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