Wealth Management Advisors Tiverton 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.

Lynne Nahigyan
Seamark Financial Services, Inc.
(508) 758-6159
109 Fairhaven Road, Suite F
Mattapoisett, MA
Expertises
Estate & Generational Planning Issues, Retirement Planning & Distribution Rules
Certifications
NAPFA Registered Financial Advisor, CFP®

Mr. John A. Varao, CFP®
(508) 678-4844
435 Columbia St
Fall River, MA
Firm
The Tax Consultants Inc
Areas of Specialization
Accounting, Employee and Employer Plan Benefits, General Financial Planning, Retirement Planning, Small Business Planning, Tax Planning, Tax Preparation

Data Provided by:
Ms. Cheryl J.C. Blanchard, CFP®
(508) 916-2480
275 Martine St
Fall River, MA
Firm
Ameriprise Financial Services

Data Provided by:
The Burney Company
(401) 218-0984
283 Carriage Drive
Portsmouth, RI
 
Mr. Neal Borges, CFP®
(508) 837-6443
275 Martine St.
Fall River, MA
Firm
Ameriprise Financial Services,
Areas of Specialization
Asset Allocation, Business Succession Planning, Comprehensive Financial Planning, Employee and Employer Plan Benefits, General Financial Planning, Insurance Planning, Investment Management
Key Considerations
Average Net Worth: $500,001 - $1,000,000

Average Income: $100,001 - $250,000

Profession: Not Applicable

Data Provided by:
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®

Ms. Sandra Reynolds, CFP®
(508) 636-6521
1125 State Rd
Westport, MA
Firm
Financial Planning Alternative

Data Provided by:
Raymond E Berberick Jr., CFP®
(401) 682-2007
1016 East Main Rd.
Portsmouth, RI
Firm
Edward Jones

Data Provided by:
Mr. Scott D. Illingsworth, CFP®
(508) 916-2480
275 Martine St
Fall River, MA
Firm
Ameriprise Financial Services, Inc.

Data Provided by:
Mr. Thomas J. Pavlovich, CFP®
(508) 916-2480
Suite 300
Fall River, MA
Firm
Blanchard & Associates, a financial advisory practice of Ameriprise Financial Services, Inc.

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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