Wealth Management Advisors West Memphis AR

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.

Dianne Berry
Berry Financial Services, Inc.
(901) 757-4447
1917 Hazelton Drive
Germantown, TN
Expertises
Ongoing Investment Management, Helping Clients Identify & Achieve Goals, Estate & Generational Planning Issues, Financial Issues Between Generations, Advising Medical Professionals
Certifications
NAPFA Registered Financial Advisor, CFP®, CPA, MBA

Mr. Jason B Frazier, CFP®
(901) 578-4615
50 N Front St Fl 18
Memphis, TN
Firm
Raymond James & Associates, Inc.

Data Provided by:
Mr. William E. Davis, CFP®
(888) 532-0560
119 South Main Street
Memphis, TN
Firm
The Options Group, LLC
Areas of Specialization
Investment Management
Key Considerations
Average Net Worth: $1,000,001 - $5,000,000

Average Income: $250,001 - $500,000

Profession: Self-Employed Business Owners

Data Provided by:
Mr. Chris M. Brandon, CFP®
(901) 377-9772
6328 Acorn Dr
Bartlett, TN
Firm
Aul Financial Group, LLC.

Data Provided by:
Mr. Jason Lee Peeples, CFP®
(901) 322-0292
618 Oakleaf Office Lane
Memphis, TN
Firm
Capital Financial Group, LLC
Areas of Specialization
Asset Allocation, Comprehensive Financial Planning, Education Planning, Estate Planning, Insurance Planning, Investment Management, Investment Planning
Key Considerations
Average Net Worth: $1,000,001 - $5,000,000

Average Income: $250,001 - $500,000

Profession: Medical/Dental Professionals

Data Provided by:
Mr. Micah J. Coleman, CFP®
(870) 735-9619
P O Box 1685
West Memphis, AR
Firm
Colemans Insurance Agency

Data Provided by:
Ms. Tanya L. Hart, CFP®
(901) 579-2721
300 Court Ave
Memphis, TN
Firm
First Tennessee Bank

Data Provided by:
Mr. Scott W Foster, CFP®
(901) 327-0057
748 Charles Pl
Memphis, TN
Firm
Foster Accountancy Inc

Data Provided by:
Mr. Randal E. Ellzey, CFP®
(901) 372-0375
2755 summer oaks drive
bartlett, TN
Firm
randal e. ellzey, cpa, pc

Data Provided by:
Mr. Andrew W Vinson, CFP®
(901) 322-9118
618 Oakleaf Office Ln Ste 300
Memphis, TN
Firm
Capital Financial Advisors

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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