Can you cut expenses and improve lifestyle?
Running Point and its chief investment officer, Michael Ashley Schulman, CFA, were quoted by Investor’s Business Daily in an article—by Paul Katzeff, “Cut Yearly Expenses By $2,000, Boost IRA Savings By $140,000”—regarding ways clients of different ages can save on their monthly expenses; great life lessons for the family.
Reduce expenses, spend better, eliminate waste, boost savings!
A bright and dynamic Millennial cut her expenses nearly $200 per month by eliminating a few monthly boxed subscription services for cruelty free makeup, sustainable clothing, and vegan food. She still believes in the causes, but found that the convenience of subscriptions had become overkill and more burden than enjoyment. Proper financial planning would probably mean that she already saves appropriately, so new found gains could go towards travel and entertainment. Cut subscriptions, simplify routine, reduce complications, conserve, and have fun!
Quoted article excerpts are below:
Michael Ashley Schulman, founding partner and chief investment officer of Running Point Capital, guided a 30-something, Los Angeles female client who founded a technology company into canceling monthly deliveries….
Schulman said, “In round numbers, we look at the big picture when advising and coaching.” Cost-cutting also helps clients simplify their routines and makes life less complicated, he says.
“She still believes in the causes, but found she was traveling so much that all the extra convenience of the subscriptions had actually become overkill and more of a burden than an enjoyment,” Schulman said.
Disclosure: The opinions expressed are those of Running Point Capital Advisors, LLC (Running Point) and are subject to change without notice. The opinions referenced are as of the date of publication, may be modified due to changes in the market or economic conditions, and may not necessarily come to pass. Forward-looking statements cannot be guaranteed. Running Point is an investment adviser registered with the U.S. Securities and Exchange Commission. Registration does not imply a certain level of skill or training. More information about Running Point’s investment advisory services and fees can be found in its Form ADV Part 2, which is available upon request. RP-22-49