As many people struggle with making ends meet, a budget can offer structure and help. Tony Amaradio, financial advisor, offers 5 simple steps to achieving financial goals. The co-author of best selling book, “Faithful with Much” demonstrates that economic prosperity in a household involves both discipline and strategy, as well as adapting to any changes or disruptions that occur along the way. Despite a turnaround from recession within the U.S economy in recent years, nearly half of the country still lives paycheck to paycheck, according to a study cited by Esquire contributor Jack Holmes. Such circumstances require a measured and calculated approach when working towards a stable and abundant outcome. Tony Amaradio suggests first developing a realistic financial goal, and tailoring a plan to fit it. The next step is to review any outstanding debts, whether it’s credit card debt, or a mortgage. In many cases, there is leeway in regards to renegotiating the debt at a more conducive interest rate. “Debt-laden consumers can negotiate with credit card issuers to reduce the amount they owe or create a more palatable payment plan—if they know what to do,” writes Fox Business contributor Donna Fuscaldo. Securing a favorable deal can result in lower payments, while also decreasing the amount of debt owed. This makes a surplus of funds that can be put towards savings. The third step put forth by Amaradio is to identify spending habits. New York Times contributor Carl Richards emphasizes the examining of purchases from the past 30 days to get a better insight. “The point of this is not to beat yourself up about your spending,” Richards says, but rather to create a sense of awareness with your tendencies. After charting your expenses, create a monthly spending plan, allocating a reasonable amount of money towards every category, with strict adherence to each. The final step in the process is an ongoing one; adapting to any setbacks or changes that occur along the way, such as a medical emergency, car troubles, or home repair need. When faced with an unexpected expense, the best course of action is to either reallocate the money from a different category, or use an emergency fund established beforehand. Carefully aligning your finances with these proven steps set forth by Amaradio will lead to the desired financial goals in the future. As a 35-year veteran within the financial services industry, Tony Amaradio provides what he has coined as “best in class” service to a wide and diverse range of clients. Upon graduating with an MBA in both Finance and Taxation, Amaradio’s skillset was quickly noticed and retained by a prominent Fortune 500 company. After receiving numerous accolades in the financial services industry, he left to establish his own firm, citing desire to forge his own path to success. Today, Amaradio oversees both Select Portfolio Management Inc. and Select Money Management Inc., and is known for his radio talk show “Market Talk“. Together with his wife, Carin, they contribute to a number of nonprofit organizations in the Southern California area, and have co-authored a revolutionary book titled “Faithful With Much – Breaking Down The Barriers To Generous Giving”.
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