Cortburg Speaks Retirement
Tune in every Wednesday to "Cortburg Speaks Retirement," your go-to podcast for the latest insights on investing, financial planning, and retirement strategies!
Join Certified Retirement Counselor, Miguel Gonzalez, as he delves into timely investment topics, offers expert advice on money management, and addresses common concerns about navigating the stock market.
Cortburg Speaks Retirement
Post-Holiday Recovery: Smart Financial Tips to Rebuild Savings and Pay Off Debt
Miguel Gonzalez, a Certified Retirement Counselor with 20+ years of experience, shares practical tips to help you get back on track after overspending during the holidays. Learn how to tackle debt, rebuild savings, and prepare for a stress-free holiday season next year.
Cortburg Retirement Advisors is a boutique financial planning firm committed to helping you grow, protect, and preserve your assets from your first job to retirement. We specialize in wealth management, estate and tax planning, group retirement, employee benefits, insurance, and retirement planning to navigate any economic climate.
Miguel Gonzalez, a Retirement Specialist with 20+ years of experience, offers expertise in retirement income planning, investment management, and retirement plan design. With an MBA from Columbia Business School, and professional experience with JP Morgan Chase, Merrill Lynch, and more, Miguel is a trusted advisor for his clients.
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Welcome to Cortburg Speaks Retirement Podcast
with Miguel Gonzalez, MBA, AIF®, CPFA®, CRC®
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INTRODUCTION
Welcome to Cortburg Speaks Retirement
An audio podcast about investing in the stock market, financial planning, money management and retirement planning. Each Wednesday, we help investors at all stages of life learn how to potentially grow and preserve their money from first job through retirement.
Now here is your host, Miguel Gonzalez.
HOST
Good morning and welcome to the CORTBURG SPEAKS RETIREMENT audio podcast.
It’s been about a month now since the holiday season ended and while it’s a season of giving, rejoicing, and celebrating, sometimes, being joyous means having to spend some money.
If you’re feel the pinch once the season is over, don’t worry! The following tips may help you get back on your feet after overspending on the holidays.
Take a Look at Your Spending
To be able to start fresh, the very first thing you need to do is account for exactly how much money you spend. If you haven’t already, look at your bank and credit card statements to get a good idea of where your money went. You might be surprised at how quickly you spend money. But you need to figure out the full extent of your spending to make a solid plan to, hopefully, get back on track.
Create a Payoff Plan
Make a monthly repayment plan by listing your debts and determining how much to pay each month. Also, try to pay more than your minimum payment on each debt. Each extra dollar lowers your total in the long run and saves interest expense. It is wise to set up monthly automatic payments from your checking account.
Cut Back on Extras
To help get some of your financial wellness back, you may want to forgo any extra spending for a few weeks (or even months). Cook at home more, avoid shopping trips, and cancel monthly subscriptions that aren’t necessary. Those small changes add up and free up money to pay off holiday bills more quickly.
Start a Savings Challenge
One of the easiest ways to rebuild your savings accounts after the holidays is by making it a challenge. One popular method is the 52-week challenge, where you save a dollar more each week. Start with $1 for the first week, then add $1 to save $2 for the second week, and so on. At the end of the year, you save $52 for the 52nd week.
If you do not miss any weeks, you end up with a surprising cumulative sum of $1,378 in savings.¹
Another easy way to save is to fill a coin jar with all your change.
Plan Ahead for Next Year
With your holiday spending experience behind you, it’s a good time to plan for next year. Start a holiday savings fund, ideally early in the year. Set aside a bit of money each month to prepare for next year’s holidays; perhaps you may not have to go further into debt.
Make sure to visit our website, www.CortburgRetirement.com. Our site is filled with educational videos, eBooks, publications, and financial calculators designed to help you learn more about your finances. As you search our site, send us a note regarding any questions you may have about any particular investment concepts or products. We will get back to you quickly with a thoughtful answer.
This is Miguel Gonzalez, Certified Retirement Counselor (CRC) and Managing Partner, with Cortburg Retirement Advisors signing off for this week’s educational podcast.
