It’s the end of the year. Most people are spending. We spend, not only during the holidays, but all year. The most important thing we can do to protect our money is to know our expenses. If we know are expenses, we then know what we have going out and what is left to save and invest. Every year, I make this request. Call my Delta office, or go to our website at www.moneytalk.org, and request a Cookie Jar Expense Checklist. This is a great tool for developing a plan to know your exact expenses. Once you know your expenses, then you can invest. However, you really shouldn’t invest until you know exactly what your expenses are, cover them and then, with the money left over, invest accordingly.
And that’s my Money Minute.
The interpretations and organization of these ideas do not represent the opinions of Berthel Fisher and Company Financial Services, Inc.