You are currently viewing Ask A Financial Advisor

Ask A Financial Advisor

Creating a budget that works for your life can help control your spending and allow you to save more money for retirement.


Keep track of what you spend out of pocket each day. Record everything, including purchases that cost only a few dollars. There are apps you can download to your smartphone and online budgeting tools you can use to make this task easier.


Add up what you spend each month on food, housing, transportation, clothing, health care, etc. Also figure out the monthly savings needed to pay bills that come only once or twice a year, such as insurance and property taxes.


Once you see exactly where you’re spending your money, you can look for areas where you can cut back. Spur-of-the-moment purchases are a good place to make cuts. And if you pay a lot for auto and homeowners insurance or wireless services, shop around for more affordable alternatives.


After you have your spending under control, you can start saving more for retirement. Simply increase the amount you contribute to any retirement plans or savings accounts you may have. Over time, even a small boost can make a big difference in the amount you’ll have available when you retire.



By making a larger credit card payment each month, you’ll pay off your balance a lot faster, reduce the amount you spend on interest, and have more money available to save for retirement. For example, compare the results of paying off an initial $5,000 balance at $100 per month with paying the same initial balance off at $250 per month.

Gormley Furlong Wealth Advisory Group of Janney Montgomery Scott LLC. 1010 Stony Hill Road, Suite 300, Yardley, PA 19067. Phone: 267.751.3010 Janney Montgomery Scott LLC. Member: NYSE, FINRA, SIPC

Janney Montgomery Scott LLC Financial Advisors are available to discuss the suitability and risks involved with various products and strategies presented. We will be happy to provide a prospectus, when available, and other information upon request. Please note that the information provided includes reference to concepts that have legal, accounting and tax implications. It is not to be construed as legal, accounting or tax advice, and is provided as general information to you to assist in understanding the issues discussed. Neither Janney Montgomery Scott LLC nor its Financial Advisors (in their capacity as Financial Advisors) give tax, legal, or accounting advice. We would urge you to consult with your own attorney and/or accountant regarding the application of the information contained in this letter to the facts and circumstances of your particular situation. Janney Montgomery Scott LLC, is a full-service investment firm that is a member of the NYSE, the FINRA and SIPC. Prepared by DST Systems, Inc. Copyright 2019.

Please be advised that any materials provided to you by a financial advisor have not been reviewed or approved by the Carpenters. These materials have been prepared solely by the respective financial advisors. The information provided to you is for information and illustrative purposes only and does not purport to show actual results. It is not, and should not be regarded as investment advice or as a recommendation regarding any particular security or course of action. Opinions expressed therein are current opinions as of the date appearing in this material only and are subject to change without notice. Any information provided to you is done so with the understanding that you will make your own independent decision with respect to any course of action in connection herewith and as to whether such course of action is appropriate or proper based on your own judgement, and that you are capable of understanding and assessing the merits of a course of action. The Carpenters do not purport to and do not, in any fashion, provide tax, accounting, actuarial, recordkeeping, legal, broker/dealer or any related services.