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FINANCE
THE TOP FINANCIAL MISTAKES
THAT ARE EASY TO AVOID
by Jill Ciccarelli Rapps, CFP® is because we have so many choices for how
Financial Advisor to spend our money! Smart spending is an
important outlook to have; thinking not only
B eing satisfied and successful in life means a lot of different about today, but also what your spending could
things to different people, and what it means to you should be mean in the future.
the focal point when setting goals for yourself. Money matters
often rank at the top on people’s list of things to focus on. • Assume Things Will Never Change –
While you likely have some clear financial goals in place,achieving your Let’s face facts here: the future is uncertain, no
goals isn’t just about taking the right steps – it’s about avoiding the matter how much you wish the opposite to be
wrong ones. true. While you might currently have a stable
job, good career trajectory, and fairly low bills,
KNOWING THE BIG MISTAKES the reality is that things can change. Instead of
moving through your life assuming that everything will remain how it
Many people end up making major financial mistakes without even is, you should plan for rough waters ahead. Failure to do so can place
realizing it. If you want to reach your financial goals, several things are you in a serious bind.Thoroughly enjoy the great moments in your life;
worth keeping in mind. Here are the top financial mistakes you should however, when things get rough, be prepared for the change. Keep a
avoid: positive outlook, knowing that the rough times shall also pass.
• Managing your Credit Score – Your credit score has a huge impact The key financial mistakes people make today are related to either
on your financial health! Having too many credit cards or credit open unwise spending or just poor planning overall. If you avoid these
can damage your score, and is difficult to keep track of. Not only should mistakes, you can take major steps towards ensuring a better, more
you avoid having too many cards, but you need to be cautious about stable financial future.
the cards you get. For example, in-store, high interest cards will likely
do more damage than good for your finances. Pull your credit report To help you feel more comfortable about your future, contact
at least once each year (free at myfloridacredit.com) to make sure it is Ciccarelli Advisory Services, Inc. today. We will provide you with
accurate. guidance to help you achieve your goals.
• Failure to Budget – Sure, a budget can seem like a pain in the neck Jill Ciccarelli Rapps, CFP®
and something that you can do without. But the reality is that setting www.CASMoneyMatters.com
up even the most basic budget can tremendously impact your finances.
Take a moment to list your income and expenses, and then determine Ciccarelli Advisory Services, Inc. is located at 9601
how much money you actually have to spend above those expenses. If Tamiami Trail North, Naples, FL (239.262.6577)
you ignore a budget, your finances will suffer.
Jill Ciccarelli Rapps, is a certified financial planner and a trained
• Failure to Communicate – This especially applies to couples who life coach and is a Partner of Ciccarelli Advisory Services Inc., a Family
plan on getting married. Failure to talk about financial goals before you
get married could lead to significant problems in the future. A financial Focused Wealth Management Firm in Florida and New York.
advisor can facilitate this conversation, and help you decide if any
planning should be accomplished before your wedding day. Ciccarelli Advisory Services, Inc. is located at 9601
Tamiami Trail North, Naples, FL (239.262.6577)
• Minimal Investment in Insurance – Insurance can seem like an
expense that you can avoid, especially when you’re younger. But one Investment advisory services offered through Ciccarelli Advisory
major illness or injury, or a death, and you could find yourself facing a Services, Inc., a registered investment adviser independent of FSC
huge bill. Protecting yourself from the “what if ’s” in life will help you Securities Corporation. Securities and additional investment advisory
and your family feel more comfortable. services offered through FSC Securities Corporation, member FINRA/
• Minimal Investment in Retirement – It’s easy to overlook long- SIPC and a registered investment adviser.
term planning when it comes to your finances. But saving a little extra
today leads to bigger and better retirement levels in the future. Failure
to invest in your retirement plan is a major mistake to avoid.
• Overspending – It’s easy to spend money, especially when you feel
financially secure. Americans tend to be over-spenders. Perhaps this
76 Life in Naples | May • June • July 2016
