Fete Lifestyle Magazine April 2021 - Spring/Fashion Issue | Page 26

Two Special Extras…

Put Your Stimulus to Work

If you received a stimulus check, or are expecting another one, take this time to put some or all of that money to work. Here are some potential uses:

1.Paying for outstanding debt (highest interest notes first)

2.Creating an emergency fund (3 months’ worth)

3.Investing in your 401K, 403B, or Roth IRA – I won’t get into all the details, but what I would NOT suggest is using this newfound money to purchase “unneeded stuff”. If you really have excess $$ from the stimulus, then fine… use maybe up to 15% of it for something fun.

Ask for a Raise or, Prepare for One

Saving a large percentage of your income is much easier to do when you have a larger income. If you have a mid-year review (or whenever it may be), the time to prepare is now! Use the mentality of “spring cleaning” to demonstrate your value by standing out from the crowd. If you own your own business, provide a new service or product that is better than your competitors. Show your rock star status!

I would not try tackling all of these tips at once. Rather, focus on getting a specific 1 or 2 completed before moving onto the next.

I would then try to tackle as many as you can before the season yet again changes. If you don’t set a deadline, it likely won’t get done!

Not only will you feel great when you get through your financial spring-cleaning checklist, but your bank account will also thank you. The financial results that we desire are always controlled by our actions. Let’s use this Spring to our advantage.

For more information and more personalized financial lifestyle planning contact Richard Chew at [email protected], www.1stcig.com, 312-952-8040/Cell, 312-243-3907/Office