The Reviews Are In, Let Hawkeye Associates Lead the Way to a Bright Financial Future

Let Hawkeye Associates lead the way to a bright financial future

The past year’s events brought about a renewed awareness to the importance of being financially sound. If your finances are not where you want them, it’s time to make necessary changes regarding your money. Thankfully, there are many things you can do to promote financial wellness and enjoy a bright financial future. 

Reeling in Debt

Debt is something that most Americans have. However, when it comes from multiple sources combined with several credit cards featuring high balances, it’s difficult to maintain. The good news is you have a few options to reduce your debt. 

Consolidation Loan

One way to eliminate credit card debt is to apply for a consolidation loan with a company like Hawkeye Associates. This is a loan that covers all of your current debt, allowing you to pay it off and then focus on just one payment.

The single monthly payment with a lower interest rate will consume less money from your budget allowing you to reduce debt faster. The experts at Hawkeye Financial will work with you to get that process started and put you on a path to a bright financial future. 

Paying With Cash

Everyone has something they want. The difference is how you acquire it. If you use credit to buy something you otherwise can’t afford, you’re piling on debt to your budget making it harder to maintain your monthly expenses. However, if you save up for it, you own it outright. There are no additional bills or interest due. 

Eliminating Wasteful Spending

If you buy a coffee each morning on the way to the office and order lunch out, you could be spending several hundred dollars monthly. Add in ordering takeout for dinner once weekly and the total becomes much greater. Instead, bring your coffee and lunch to work from home and on Friday treat yourself. 

Establish Savings

If you live on a shoe-string budget then anything extra that comes along will cause turmoil regarding your finances. Unfortunately, homes and autos require regular maintenance. Without money set aside for emergencies, even a small unexpected expense can cause you to push off a bill to make the repair. 

When you have money in reserve, you go on as normal. You can start out small, putting as little as twenty dollars away each pay period and increase the amount as you pay down debt. 

Funding Retirement

Many people live life now putting nothing away for their retirement. Unfortunately, Social Security will not provide the same quality of life you enjoy today. It will supplement your income. If you work for a company that offers entry into a 401(k), take it. 

Most of these same businesses match your contribution up to a percentage, allowing you to double your investment. If your company doesn’t provide these benefits, you can acquire your own 401(k) or a personal Roth IRA. Planning for retirement in your 20s and early 30s will allow you to grow a sizable nest egg.   

Importance of Budgeting

A household budget makes you aware of your expenses. Many people who start a budget for the first time didn’t realize the amount of debt they accumulated. 

Budgeting keeps spending in check. You have a set amount of money that’s yours. The rest, use to pay down debt, save for long-term and short-term goals and your retirement. It basically ensures that you live within your means. The good news is budgeting is quite easy. It’s sticking to it that can be much harder. However, once you see your bills reduce and your goals realized, you’ll want to remain on a budget for life. 

Maintaining a Good Credit Score

Poor credit, a score of 580 or less, can cost you dearly. It can make it difficult to buy things like a home or a vehicle or secure a personal loan for school. When you have poor credit, you can also expect to pay more. If you rent a home, you’ll need additional security and a deposit for utilities. Sometimes, poor credit can even cost you a job. Having good credit gives you access to the best interest rates, credit cards and reputable insurance companies. 

Having a bright financial future is possible. Reel in debt, establish savings and become smart regarding the management of your money. In the end, you’ll have the things you want and money in the bank.