Site Registration | Find a Copy | Event Calendar | Site Map
The Voice of the Black Community
CPF Inaugural Golf Tournament
My business story

Weíre in the business of telling the Queen City story with an African-American perspective.www.thecharlottepost.com

Posted by The Charlotte Post on Monday, March 7, 2016


5 financial habits to build true wealth
Straight forward advice on managing finances
Published Thursday, March 14, 2013
by Brandpoint

Money can be complicated. From spending and saving to making charitable donations and investing, itís not always easy to know exactly what to do with your finances. But there are smart ways you can begin to use your money to your advantage today.

ďMoney itself doesnít matter,Ē said award-winning financial services advisor Bruce Helmer. ďItís the people and things you love that provide real wealth in life. Using your time and money to support what you value is the foundation of a rewarding financial plan.Ē

Helmer is co-founder of Wealth Enhancement Group and the author of ďReal Wealth: How to Make Smart Money Choices for What Matters Most to You.Ē He believes in a straightforward, values-based approach to managing wealth and recommends adopting the following money habits:

1. Spend it

Everyone spends money. The key is to make thoughtful choices and determine necessities versus luxuries. Itís important to take a realistic look at your priorities because necessities will vary based on your personal values. Then, determine what you need now and what can wait for the future.

Remember to avoid consumer debt and only spend what you currently have for day-to-day expenses. If you canít pay off a credit card each month, donít use it.

2. Save it

There are three main reasons to save: emergencies, spending and investing. Start with an emergency fund. Prior to the Great Recession, most people saved three monthís worth of expenses. Today, with continued economic instability, six months is a wiser choice. Life is unpredictable, and you never know when injury or job loss will affect your income.

How much of your income should you save? A good goal is at least 10 percent. Remember, saving and investing are different. Saving puts money in a secure place readily available to you - making it a liquid asset. Investing puts money away, allowing it to grow for future use.

3. Invest it

Investing is a key part of growing your finances and securing your future. Smart investors make it a habit to pay themselves first, meaning each payday they designate a specific amount of money to investment accounts. Remember, a long-term investment plan with consistency and stability will overcome market swings.

It is wise to start investing as soon as you can. The first step is identifying your individual goals and how much time you have to achieve them. Then talk with a trusted financial advisor about expected rate of return and risk levels of different investments to diversity your portfolio.

4. Manage your tax burden

Taxes are an often-overlooked part of financial planning. But knowing how your money will be taxed today and in the future can help you make wise decisions. Itís safe to say most people want to pay as little taxes as possible, and your decisions today will help you do that.

Balance taxable investments like CDs, money market accounts and bonds with tax-deferred investments like 401(k)s and traditional IRAs. Do not forget about the importance of tax-advantaged investments like Roth IRAs and life insurance too. Balancing these three types of taxable investments is important to a long-term financial strategy.

5. Give it away

At face value, giving money away may sound a little crazy, but sharing your wealth can be a rewarding part of a financial plan. Whether it be to a nonprofit, a faith community or to your own children, sharing money either during your lifetime or upon death is gratifying and can have many economic benefits.

Charitable donations done now are tax deductible this year, but other types of giving provide benefits in the future. For example, donating money in a will can possibly lower the estate tax liability to your heirs. Because tax laws are complex, itís important to work with a professional who can guide you in the right direction.


Welcome to the great brotherhood... Are you looking for the world where wealth, fame, connection, business, prosperity, control, influence, good health etc will be your watch word? join the great brotherhood today and enjoy all the benefit in it. like recieving $500.000 instantly after been decleared member,you can also earn $250.000 every month as a member . and you you will be given the chance to choose a home anywhere you wish to live in the world like other brotherhood out there,the sweetest part of it is that you will be opportuned to meet with most famous rich men and women who are the caucus of this most powerful and mighty club.Human sacrifice is not needed. Apply if interested via email greatbrothersilluminati@gmail.com.or call +2347038174961.
Posted on August 11, 2013
Love the science..and how true...now to impliment into action..
Posted on June 6, 2013

Leave a Comment

Send this page to a friend

Upcoming Events

read all

Collection of Meteorites

The meteorite collection is on display throughout


Black Chamber of Commerce : 30 Under 30 Recognition Event

From entrepreneurs and CEOs to philanthropists,


Eats, BEAKS, and BREWS

Eats, Beaks, and Brews! Starting July 7 through

Latest News

read all

Charlotte Independence take to road against Montreal

Second match in four-game swing

Itís cool to be weird, as long as itís creative

JCSU professor headlines Creative Mornings forum

Forumís aim: Bridge the digital divide with involvement

Symposium looks to close tech gap