ORLANDO, Fla. – How’s your summer spending going?
Tuesday’s segment of “Breakfast with Bridgett” dished up some mid-year money management advice with some tips from financial advisor Eric Hutter from Osprey Retirement Solutions.
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In the interview, Hutter talked about saving and spending strategies for every age, stage and income. While prices and rates remain high, Hutter says there are still ways to make more, save more and spend less through different management techniques.
Here are some of the tips he shared in the interview:
- Hutter recommends using a payment method other than your credit card to avoid paying back high interest rates. Alternatives include tapping your debit card or using set amounts of cash.
- With hurricane season here, it is important to ensure that you have enough emergency funds for any unexpected costs caused by this period of unpredictable weather, like insurance deductibles to income changes, according to Hutter.
- Hutter also mentioned that whether you got a tax refund or had to pay, remember to check your withholdings and 401k contributions.
“I would advise you go to IRS website find out if you’re underpaying and if you want to increase your withholdings. I always say I don’t want to overpay the taxman. A lot of people have trouble writing that check at the end of the year because they didn’t save enough to be able to write that check,” Hutter said.
For more money management tips or financial advice, check out the full interview at the top of this story.
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