Money Management

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Money Management

See how Financial Dream Team can help you create an appropriate Money strategy.

Tell us about your goal for retirement, college, or what's ahead.
We'll see where you're at and help you identify an asset mix that can
help you target your goal.

Get a complimentary analysis of your current portfolio.
We'll compare your current portfolio to your target asset mix so you can
evaluate areas that may need adjustment.

Learn how to get your investments on track.
We'll suggest an investment mix to help you to better align
your portfolio with your goal.
Money management is the process of knowing where you are spending your money today, and having a well thought-out plan in place for where you want it to go in the future. This program will cover the core concepts of money management, and will teach you how to:

Set Goals
Get Organized
Cut Spending Waste
Build a Budget
Save Money
Set Goals

Setting financial goals is exciting – it is your opportunity to decide what you truly want to do with your money, and to achieve those goals without having to borrow for them.

Get Organized
Organization is key to efficient money management. Once all of your information and paperwork is in order and accessible, you'll never have to waste time searching for important documents, wonder about account balances, or miss bill payment deadlines.

Cut Spending Waste
“Waste” is spending money on things you don’t really care about or need, simply because you are not paying attention to your shopping habits. You can increase your spending and savings power by identifying where waste lives in your budget and taking steps to eliminate it.

Build a Budget
Do not be intimidated or put off by the word “budget.” It is nothing more than a plan for what you want to do with your money. A well-designed budget is not restrictive, allows you to make the most of every penny you earn, and will keep you on track with goal achievement. Though everybody’s budget is different, there is one consistent rule: expenses should never exceed income.

Save Money
Setting aside cash on a regular basis is a habit worth getting into. While saving money may at first seem difficult or even impossible, in most cases all it takes is a commitment to the process and adopting an efficient savings system.

Establish an emergency fund
An emergency fund is an important part of every savings plan. Having three to six months worth of essential living expenses set aside will guard your finances against unexpected job loss, medical problems, and high expenses. Good places to keep your emergency fund include:

    Share and passbook savings – Traditional share and savings accounts are insured and will allow you to withdraw funds penalty-free at any time. In exchange for total liquidity and stability, these accounts provide very low investment returns.
    Money market deposit account – The interest rates for money market deposit accounts tend to be slightly higher than passbook savings accounts while providing a similar function. Though these accounts are insured and withdrawals are penalty-free, the number of allowable transactions is limited.
    Money market mutual fund – While not insured, the investments in money market mutual funds are low-risk. They provide immediate access to funds without early-withdrawal penalties, and typically offer higher rates of return than passbook savings and money market deposit accounts.