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Thoughts and ideas from Owlfi

    July 8, 2020 at 5:00 AM
    Have you started saving for retirement yet? That is an easy question to answer; it’s either yes or no. If you have not started yet, the next question is why not? Many people justify and have reasons why they are not saving. Do you see yourself in any o...
  • Benefits of a Health Savings Account
    June 30, 2020 at 5:00 AM
    Are you aware of the benefits of a Health Savings Account (HSA). The HSA came out of the Affordable Health Care Act and is one of the most powerful pieces of a health care strategy. OverviewA health savings account (HSA) is a tax-favored savings account cr...
  • Aging Parents and Finances
    June 23, 2020 at 5:00 AM
    Many parents want to maintain their independence as they age and do not want to reverse rolls and have their children care for them. Aging parents and finances can be tricky to navigate. The conversation can be awkward or be met with resistance.A 2010 Inve...
  • Dispelling Common Misconceptions About Estate Planning
    June 19, 2020 at 6:00 AM

    Estate planning is one of the most important preparations you can make when considering your family and wealth. It’s not always an easy process, but it makes an invaluable difference to your family and loved ones.

  • Get to Know OWLFI: Your Personal CFO
    June 18, 2020 at 6:00 AM

    When you choose OWLFI, we take the time to get to know you and your financial needs and goals to give you the best path forward.

  • Home Insurance
    June 16, 2020 at 5:00 AM
    When people shop for home insurance, they are actually seeing not just one type of coverage but possibly several different varieties. Homeowners insurance, renter’s insurance, and condo insurance are all typically included within the category of home insur...
  • Find the Best Interest Rates
    June 9, 2020 at 5:00 AM
    Are you investing for the short term like to buy a car or take a vacation next year? Are you investing for the long term such as retirement in 20-25 years? Why are you investing is one of the most important questions to answer. If you are saving for the sh...
    June 1, 2020 at 4:00 AM
    Purchasing life insurance is one of the most important financial moves you can make. The coverage from this type of policy protects your family from financially worrisome situations if you are not there to provide for their needs. When you work with an ind...
  • 10 Tips for Managing Your Household Budget
    May 27, 2020 at 2:30 PM


    Everyone would like more money in the bank at the end of the month. The good news is that it’s never too late to start saving and investing. Here are some tips to help you grow your wealth by creating a budget.

    1. Start saving now. Financial advisors recommend having at least three months’ salary saved in case of emergency. Even if you can’t afford to save a lot of money each month, it’s important to put a small amount away regularly.

    2. Track your income and expenses. Every budget starts with knowing how much you’re earning and spending. Use a spreadsheet or online budgeting tool to record your after-tax income and expenses.

    3. Set goals. By setting goals, you can make smarter budgeting choices and keep your spending on track. Make a list of what you’d like to achieve over the short, medium, and long terms and record how much you can allocate to them every month.

    4. Follow the 50/30/20 rule. To differentiate between your “needs” and “wants,” put 50 percent of your income toward fixed expenses (“needs”), 30 percent toward variable expenses (“wants”), and the remaining 20 percent against your financial goals.

    5. Track your spending. Tracking your spending over time helps you understand the impact of impulse buying versus contributing to longer-term goals. Get in the habit of recording your daily expenses.

    6. Get everyone involved. A budget only works if everyone in your household commits to it. Make sure everyone understands what’s expected of them and hold regular meetings to review everyone’s spending.

    7. Know your credit score. Your credit score follows you for life and can dramatically affect your ability to borrow money, secure a mortgage, and qualify for a low-interest credit card. Scores of 800 and above are considered “exceptional.”

    8. Schedule bill-paying days. Banks, credit card companies, utilities, and cell phone companies all bill on a monthly cycle. Create calendar alerts and stick to them to avoid missing a payment and incurring interest charges.

    9. Pay your credit card balance in full every month. Your balance will quickly grow beyond your means if you only make the minimum payment. Charge only what you can afford to pay off every month, even if your credit limit is much higher.

    10. Pay attention: Many budget items can change over time. You may get a raise, or you may have achieved a goal. Conversely, food prices may go up, or your car may need an unexpected repair.

    Contact OWLFI to talk about saving and investing your money! 913-441-8380

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