For many people, personal finance is a difficult subject to understand. Few people feel confident about their financial future. Richard Dwayne Blair is a professional financial planner who helps hundreds of people each year. He focuses on a few key areas that each person can improve.
Budgeting is critical to financial success. Few people track their spending each month. Budgeting helps people track their spending in significant financial categories. Richard Dwayne Blair firmly believes that most people can have financial success by reducing spending in key categories. As the economy improves, more people are willing to borrow money for major purchases. Car loans are at a multi-year high. Borrowing money to purchase an expensive car is a bad financial decision. Credit card debt is also increasing. Few people focus on improving their financial position.
Some people do make enough money from their job to support themselves financially. There are more opportunities than ever before to work an additional job. Starting a side hustle is a proven way to increase income each month. Some people only work a few days per week to earn extra income.
Richard Dwayne Blair is a strong proponent of developing additional sources of income. Not only does it help people reach their financial goals, but an additional income source also reduces a person’s overall financial risk.
Investing is essential to reaching financial goals. Some people choose to avoid investing because they are worried about losing money. Richard Dwayne Blair has an investing plan for each client based on their overall financial goals. Younger people can afford to invest in asset classes with more volatility. As a person gets closer to retirement age, their investment allocation must shift to more conservative asset classes. Richard Dwayne Blair is excited about the future of his financial planning business. He plans to offer additional products and services in the years ahead.