Wealth Management Advisors Pawtucket RI

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.

Rebecca Preston
Preston Financial Planning
(401) 421-1777
251 Olney Street
Providence, RI
Expertises
Middle Income Client Needs, Women's Financial Planning Issues
Certifications
NAPFA Registered Financial Advisor, CFP®

Maxine Johnson
Foresight Personal Financial Planning, LLC
(508) 728-9454
P.O. Box 1059
Attleboro, MA
Expertises
Estate & Generational Planning Issues, Ongoing Investment Management, Investment Advice without Ongoing Management, Socially Responsible Investments, Retirement Planning & Distribution Rules, Planning Concerns for Corporate Executives
Certifications
NAPFA Registered Financial Advisor, CFP®, CTFA, MBA

David McPherson
Four Ponds Financial Planning, LLC
(508) 403-0060
20 Cabot Boulevard, Suite 300
Mansfield, MA
Expertises
Retirement Planning & Distribution Rules, Retirement Plan Investment Advice, Ongoing Investment Management, Middle Income Client Needs, Hourly Financial Planning Services, Planning Issues for Business Owners
Certifications
NAPFA Registered Financial Advisor, CFP®

Walter Herlihy
Beacon Financial Planning, Inc.
(508) 230-3588
45 Bristol Drive, Suite 101
South Easton, MA
Expertises
Helping Clients Identify & Achieve Goals, Retirement Planning & Distribution Rules, Estate & Generational Planning Issues, Retirement Plan Investment Advice, Charitable Giving - Trusts & Foundations
Certifications
NAPFA Registered Financial Advisor, ChFc, CLU

Susan Brown
Sound View Financial Advisors, LLC
(508) 660-8982
40 Lewis Avenue
Walpole, MA
Expertises
Ongoing Investment Management, Retirement Plan Investment Advice, Cash Flow/Budgets/Credit Issues, Women's Financial Planning Issues, Divorce Planning, Helping Clients Identify & Achieve Goals
Certifications
NAPFA Registered Financial Advisor, CFA, CFP®

Angela Thomson
Coastal Financial Planning, Inc.
(401) 727-8151
12 Breakneck Hill Road, Suite 100
Lincoln, RI
Expertises
Retirement Plan Investment Advice, Ongoing Investment Management, Retirement Planning & Distribution Rules, Women's Financial Planning Issues
Certifications
NAPFA Registered Financial Advisor, BA, CFP®

Joan Gagnon
Gagnon Wealth Mangement, LLC
(508) 339-8339
P.O. Box 334
Mansfield, MA
Expertises
Ongoing Investment Management, Helping Clients Identify & Achieve Goals, Retirement Planning & Distribution Rules, Women's Financial Planning Issues, Professional Athletes or Entertainers, Charitable Giving - Trusts & Foundations
Certifications
NAPFA Registered Financial Advisor, CFP®, CPA, MST, PFS

Kevin Nulton
Titanium Advisors, LLC
(508) 528-3120
471 West Central Street
Franklin, MA
Expertises
College/Education Planning, Estate & Generational Planning Issues, Ongoing Investment Management, Planning Issues for Business Owners, Retirement Planning & Distribution Rules, Tax Planning
Certifications
NAPFA Registered Financial Advisor, CFP®, JD

Linda Gadkowski
Beacon Financial Planning, Inc.
(508) 230-3588
45 Bristol Drive, Suite 101
South Easton, MA
Expertises
Ongoing Investment Management, Advising Employee Benefit Plan Participants, Women's Financial Planning Issues
Certifications
NAPFA Registered Financial Advisor, BS, CFP®, M.Ed.

Mr. Joseph E. Donovan Jr., CFP®
(401) 323-9526
241 Dora Street
Pawtucket, RI
Firm
Joseph Donovan
Areas of Specialization
Accounting, Asset Allocation, Budget Development, Comprehensive Financial Planning, Debt Management, Education Planning, Elder Care

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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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