Wealth Management Advisors Farmington NM

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.

Ms. Rhonda L. Ledford, CFP®
(505) 599-4541
4601 E Main Ste 1
Farmington, NM
Firm
Wells Fargo

Data Provided by:
Mrs. Beverly J. Hatley, CFP®
(505) 334-2403
PO Box 126
Aztec, NM
Firm
Four Corners Financial
Areas of Specialization
Accounting, Asset Allocation, Banking, Budget Development, Business Succession Planning, Comprehensive Financial Planning, Debt Management

Data Provided by:
Bank of America - Farmington West
(505) 599-3755
719 West Main St.
Farmington, NM
Type
Banking Center
Services
Banking Center Services: Commercial Deposits, Night Deposits, Drive Up
Outdoor ATM Services: Open 24 Hours, Talking ATM, Braille, Accepts Deposits, Drive Up, Deposit Image
Languages
English, Spanish, Chinese, Korean, French, Russian, Portuguese
Office Hours
Monday 9-4
Tuesday 9-4
Wednesday 9-4
Thursday 9-4
Friday 9-6
Saturday Closed
Sunday Closed
Drive Up Hours
Monday 8-6
Tuesday 8-6
Wednesday 8-6
Thursday 8-6
Friday 8-6
Saturday Closed
Sunday Closed

Wells Fargo - Animas Valley Mall
(505) 566-2580
4601 E Main St
Farmington, NM
Type
Branch
Office Hours
Mon-Fri 08:00 AM-06:00 PM
Sat 08:30 AM-04:00 PM
Sun Closed

Wells Fargo - Farmington Main
(505) 324-9500
100 E Broadway
Farmington, NM
Type
Branch
Office Hours
Mon-Thu 09:00 AM-05:00 PM
Fri 09:00 AM-06:00 PM
Sat 09:00 AM-04:00 PM
Sun Closed

Mr. James F. Sandbothe, CFP®
(505) 327-1985
5150 E Main St Ste 112
Farmington, NM
Firm
Edward Jones
Areas of Specialization
Asset Allocation, Education Planning, Insurance Planning, Investment Management, Long-Term Care, Retirement Income Management, Retirement Planning

Data Provided by:
Bank of America - Farmington Main
(505) 599-3600
2200 East Main St.
Farmington, NM
Type
Banking Center
Services
Banking Center Services: Change Order, Commercial Deposits, Night Deposits, Drive Up
Outdoor ATM Services: Open 24 Hours, Talking ATM, Braille, Accepts Deposits, Drive Up, Deposit Image
Languages
English, Spanish, Chinese, Korean, French, Russian, Portuguese
Office Hours
Monday 9-4
Tuesday 9-4
Wednesday 9-4
Thursday 9-4
Friday 9-6
Saturday 9-12
Sunday Closed
Drive Up Hours
Monday 8-6
Tuesday 8-6
Wednesday 8-6
Thursday 8-6
Friday 8-6
Saturday 9-12
Sunday Closed

Wells Fargo - 20Th Street
(505) 566-7220
501 E 20Th St
Farmington, NM
Type
Branch
Office Hours
Mon-Fri 08:00 AM-06:00 PM
Sat 09:00 AM-04:00 PM
Sun Closed

Wells Fargo - Farmington Main Mb
(505) 324-9569
101 E Broadway
Farmington, NM
Type
Motor Bank
Office Hours
Mon-Fri 08:00 AM-06:00 PM
Sat-Sun Closed

Wells Fargo - Bloomfield
(505) 632-3331
1200 W Broadway Ave
Bloomfield, NM
Type
Branch
Office Hours
Mon-Fri 08:00 AM-06:00 PM
Sat 09:00 AM-04:00 PM
Sun Closed

Data Provided by:

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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