Finance Tips By Lone Peak’s Kyle Tomlin

1. Top 4 Basic Personal Finance Tips By Lone Peak’s Kyle Tomlin Investment professionals often end up being approached by friends and family members to provide financial guidance. It is no different for Kyle Tomlin at Lone Peak Capital Group, LLC. He says that, despite being an ex-portfolio manager, he is always happy to provide personal financial tips to help out a friend but quips that the tips may only be “worth what they are paying for it” (nothing). Here are top 4 basic personal finance tips by Lone Peak’s Kyle Tomlin: 1. Keep track of your net worth The difference between your personal assets and your personal debt is your Net Worth. Keep track of it, set realistic long-term goals, make sure you are moving towards your goals, and never let the latter exceed the former! If it does, it may be time for a strategic change. The point is, it will prudently drive you to save a little more, which is always a good thing. 2. Create a budget No matter whether you are a millionaire or an individual living paycheck to paycheck, it is important that you create a realistic budget. Always be aware of where your money is going, and stick to your budget. This will help you to minimize imprudent binge buying, and staying on your “net worth goals” path. However, don’t forget to allow for “small indulgences” to reward you for consistently spending within your budget. 3. Consider an All-Cash Diet Studies have shown that we tend to spend more when we have debit and credit cards with us. When you are spending money, restricting yourself to only enough cash to stay within your budget reduces the odds of budget-busting spending sprees. 4. Set Specific Financial Goals and Write them Down As noted above, setting up specific financial goals can help an individual to realize his dream of saving money and achieving net worth goals. Write your financial goals down so that you implant it firmly in your mind, which creates greater odds of achieving your goals.