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The Ultimate Guide to Managing Your Personal Finances


Hefren-Tillotson's guide to managing your personal finance

It’s no secret that our personal finances present a wide array of variables and challenges. That’s why keeping your life organized is so important. Here are some of the areas we know might need a little attention…

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personal financing - financial planning
Financial Planning

Financial planning is important to ensure you and your family can live the lives you planned for. With a solid plan in place, you can greet tomorrow with confidence.

Should I Own or Rent?

Do you plan on staying in the area for a while? If you anticipate needing to move for work, or wanting to move to a different location before settling down, renting is probably for you. In time, owning can be a good investment , but buying and owning a home is costly, from the , down payment to  mortgage payments, taxes, insurance, and fees associated with closing a real estate deal. Owning also involves repairs and maintenance, costs that are often covered by a landlord when renting. Read more.

Having Tough Financial Conversations

Often times, we avoid awkward or difficult conversations with our family members during this time because we want to focus on more joyful matters.  But there are some topics that can’t be avoided forever. Read more

When Should I Use a Credit Card?

Maxing out multiple credit cards, missing monthly payments, or only making minimum payments and racking up loads of interest are all consequences of poor credit card usage.  For some people, using a credit card just isn’t wise due to their temptation to spend. In the right circumstances, though, credit cards are actually very useful tools for building a financial foundation! Read more.

Download Our Family Finances eBook

From piggy banks to inheritances, kids who have learned about money and finances from their parents, and who understand budgeting and planning, have acquired valuable life skills to pass on to their own children. In the meantime, however, you should find comfort in their knowledge and fiscal responsibility in handling your affairs as you age in place. In this ebook, we will share some key points about how to have these discussions and ensuring their success. Download the ebook here.

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For more tips on financial planning, check out the rest of the Hefren-Tillotson blog

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financial planning - taxes

There are only two sure things in life, and one of them is taxes. With so many factors affecting your tax return, it’s important to stay up-to-date on what’s happening in Washington as well as understanding how you file. 

Year End Tax Planning

When the year is winding down, it is beneficial to consider certain actions that can  result in a lower tax bill this year and in years to come. Keep reading for a number of strategies you may wish to utilize prior to December 31. Read more

Charitable Giving Strategies

The charitable contribution deduction was mostly untouched by the Tax Cuts and Jobs Act (TCJA) passed in December of 2017. The two biggest changes were an increase in the limitation for cash donations to public charities from 50% to 60% of AGI, and donations to colleges in exchange for athletic event seating rights are no longer deductible. While the increase in the AGI limitation is advantageous for donors, the increased standard deduction has created a new barrier to receiving a meaningful charitable deduction for donations. Read more.

Download The Tax Planning Strategies Guide

The Tax Cuts and Jobs Act (TCJA) was passed in December of 2017 and made a number of reductions and adjustments to the tax code. Most of the provisions of the Act took effect this year and many are set to expire after 2025. In this e-book, we will share some ways that you may be able to save money in light of these recent revisions. Download the guide here.

Discover more strategies for your annual taxes by browsing the rest of the Hefren-Tillotson blog.

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Hefren-Tilloston guide to managing personal finances - retirement

financial planning - retirement

Retirement Goals

Planning for the future with your life partner is something you should enjoy doing together. Decisions made about retirement will play key roles in your overall success. That’s why most advisors tactfully prefer both partners being present and involved, not only so they both have their say, they both understand the process, but also so the advisor knows where they both are coming from. Read more

New Retiree Challenges

Unlike their parents, when today’s 50-somethings think retirement, they think preservation of lifestyle. However, regardless of age, redefining the next stage of life has its challenges and rewards. Individual needs, wants and financial situations vary. Therefore, each age group shares similar anxieties that go together with lengthy retirements: cash flow, management and expense management. Read more.

Managing Your Money Throughout Retirement

Managing your retirement is comparable to managing your own small business. You fund it, set realistic goals, see that they are attained, stretch the dollar, buy the deals, control the profits, monitor the results, take a paycheck and pay your taxes. You work at it every day because you are the money manager with an eye on longevity. Read more.

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financial planning - investing

When it comes to investing, you must trust your financial advisor’s knowledge and expertise. Whether you’re just starting out, or need to give your portfolio a jumpstart, discover some of our best tips for preparing and planning to help investments meet your goals. 

Successful Investing Begins with a Plan

“Where do you want to be in five years?” It’s a common question on job interviews, but it definitely applies to your investment strategy as well. Having the right answer to this question will help steer your investments in the direction you want them to go. Discover which questions you need to ask here

The 3 Biggest Risks Investors Face Today

What are the biggest risks that investors face? . With  71 years’ of experience, we have found the biggest risks faced by investors include not investing enough, overspending and cashing out of their portfolio at market lows.. Read more

2 Charts Every Investor Needs to Know

Economists produce all manner of tables and graphs to track the economy’s performance.  However, there are two charts every successful needs to fully understand as they build their portfolios. Learn how to analyze Weekly Jobless Claims and High Yield Corporate Bond Spreads here

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financial planning - lifestyle

Achieving the lifestyle you want doesn’t have to be out of reach. With the right tools and knowledge, you can navigate any financial situation life throws your way. These tips should become habits as well as  part of your daily, weekly, yearly routines. 

3 Money-Saving Life Habits

Smart saving starts with smart spending. How  we choose to purchase everything from groceries to airfare need to be done with some deliberation—at least initially. Get into routines that form smart, money-saving habits to help you reach your financial goals. Read more.  

Preventing Identity Theft

Ensuring that you and your family don’t fall prey to identity theft requires a good amount of preparation to safeguard your information. From internet security, reducing access to your personal information and forming safe habits, there are a number of actions you can take to keep your identity safe. Learn more

Planning for Divorce and Other Life-Changing Events

If divorce is imminent, it is crucial to secure a qualified estate planning attorney and certified divorce financial analyst before any legal proceedings begin. 

Learn more strategies to prepare yourself for a pending divirce. Download Hefren-Tillotson’s Divorce Planning Checklist to protect yourself and your estate. 

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Hefren-Tillotson guide to managing your personal finances - lifestyle

Explore More Articles and Resources

Visit the Hefren-Tillotson blog page for an entire library of articles on topics such as investing, insurance, market reports and much more. Additionally, we have a number of downloadable resources to take on the go. Browse our ebooks, checklists and other planners here.  

Download the Hefren-Tillotson Ultimate Guide to Financial Planning

No matter what life throws your way, Hefren-Tillotson can help you keep your finances on track. Click below to download the full PDF version of this guide.

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DISCLAIMER: Past performance does not predict future results. This report is based on data obtained from sources we believe to be reliable. Hefren-Tillotson does not, nor any other party, guarantee the accuracy or completeness of this report or make any warranties regarding results obtained from its usage. All opinions and estimates included in this report constitute the firms judgment as of the date of this report and are subject to change without notice. This report is for informational purposes only and is not intended as an offer or solicitation to buy or sell the securities herein mentioned.

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